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Fortune 500 Companies Select Lease Accounting Software Solution for Compliance to New Standards

ATLANTA – (August 2, 2018) – More than 25 companies ranked within the Fortune 500 space have selected PowerPlan for their lease accounting software solution as they prepare for IFRS 16 and ASC 842. The companies span across the utilities, oil and gas, manufacturing, retail and technology industries.

Global companies face great challenges with the new lease standards since they need to support complex leases with international and local reporting requirements. PowerPlan gives users the ability to optimize the management of leases regardless of type, currency, location, and regulations – under a single account.

“Fortune 500 companies are turning to PowerPlan’s Lease Accounting Solution because of its ease of use yet intricate functionality to manage large quantities of lease assets across multiple sets of books,” said Dillion Blakes, Senior Product Manager at PowerPlan. “With the deadline quickly approaching, these global customers value our extensive experience in lease accounting software because we are able to help them get on track for quick compliance.”

PowerPlan, is a leading solution for the largest public and private corporations in the United States. Public business entities must comply with IASB’s and FASB’s new standards by the start of 2019 and privately held companies have until the start of 2020 for compliance.