Artificial Intelligence firm LEVERTON and lease accounting solution LeaseSolution have signed a partnership which will see the two companies provide a comprehensive solution for the new IFRS 16 /ASC 842 accounting standards.
LEVERTON automatically extracts the required data from clients’ lease files and structures it to make sure data records are always kept up to date.
The LeaseSolution LS2 platform helps clients to manage their entire lease portfolio regardless of asset type.
Richard Belgrave, managing director LEVERTON, said: “Great technology will be a key component to be able to make the transition into the new accounting standards. We’re very excited about the partnership with LeaseSolution as our combined solution makes it possible for our clients to significantly speed up this transition.
Vince Baczor, founder and director LeaseSolution, added: “Together with LEVERTON, we’re bringing both the required data and easy management of lease files together in one package. This will be a crucial asset for companies to be able to manage the transition into the new IFRS 16/US GAAP accounting standards on time.”