LeaseQuery announced the launch of its LeaseManager solution. LeaseManager, able to house an unlimited number of leases free-of-charge, is a self-service lease management solution for lessees and tenants. As companies and organizations across every sector reconsider their leasing needs given the global pandemic, this new solution from LeaseQuery can help optimize the lease portfolio.

LeaseManager makes it quick and easy for lessees and tenants to manage all their equipment leases and real estate so they can avoid late payments and overpayments. It tracks leases in a central repository, generates critical alerts and provides lease abstracts for a straightforward comparison of leases, all completely free-of-charge. LeaseManager also enables businesses to accurately catalog their leases laying the foundation for a successful transition to the new lease accounting standards, FASB ASC 842, IFRS 16 and GASB 87.

“As leasing needs shift in a changing economy, it’s more important than ever to find an affordable, time-saving solution to manage leases accurately and unlock more liquidity,” said Chris Ramsey, CRO at LeaseQuery. “LeaseManager empowers confident lease administration by enabling organizations to keep track of their leases, report on current leases in real-time and make informed financial decisions.”

LeaseManager features include:

• Payment and Contract Tracking: Set automated critical date reminders about contract items to enable making renewal decisions with time to negotiate lease terms.
• Visibility into Lease Data: A cloud-based, central repository provides reliable, convenient tracking for all lease information in one place, consistent lease abstracts for easy comparison, and a searchable database to find critical dates and clauses.
• Robust Reporting and Compliance Suite: The ability to generate accounts payable reports, quickly calculate lease and expense obligations and build custom reports with multiple ways to analyze lease data, all while ensuring audit trail functions and SOX compliance.

As companies’ needs evolve, LeaseManager can be seamlessly upgraded to LeaseQuery, which provides lease accounting compliance for all sectors reporting under FASB, IFRS, and GASB.