LeaseAccelerator
بواسطة insightsoftware
LeaseAccelerator typical implementation process:
Initial Assessment & Planning: The implementation begins with a readiness assessment that identifies the organization’s lease volume, complexity, accounting standards (ASC 842, IFRS 16, or GASB 87), and ERP ecosystem needs. Data quality, reporting gaps, and internal resource availability are evaluated to create a tailored implementation roadmap.
Data Collection & Abstraction: Lease data is gathered from multiple sources, such as Excel sheets, PDFs, and legacy systems. During this phase, lease abstraction tools (including AI-powered extraction) standardize terms, payment structures, and asset details before importing into LeaseAccelerator.
System Configuration: The platform is configured to align with organizational hierarchies, reporting structures, and currencies. User roles, accounting policies, and financial calendars are set up, and integration with ERP systems (e.g., SAP, Oracle, NetSuite) is established through API or SFTP methods.
Data Migration & Validation: Cleaned lease data is migrated into the system either via bulk import or API integration. The data undergoes validation checks to ensure compliance, correct classification, and proper reporting structure consistency.
Testing & Parallel Run: Pilot testing is conducted in a controlled environment, comparing LeaseAccelerator results to existing systems. Parallel runs ensure accurate journal entries, right-of-use asset calculations, and compliance reports before going live.
User Training & Change Management: User teams undergo guided configuration workshops and best practice sessions. LeaseAccelerator provides support through LeaseAccelerator University and training materials to equip internal teams with the skills needed to manage ongoing operations.
LeaseAccelerator can be customized across integrations, configurations, workflows, reporting, and localization to fit specific business needs.
Offers secured RESTful APIs for inbound and outbound integrations with ERPs, real estate administration, fleet management, fixed assets, and other systems that can call REST and process XML.
Supports file-based integrations for both exports and imports, including XML, CSV, TSV, pipe-delimited, fixed-width, and XLSX, with optional PgP encryption over SFTP and schedulable report-driven data feeds.
API coverage includes synchronizing reference data, importing leases and subledger entries, recording lifecycle events (terminations, renewals, buyouts), generating ledger exports and asset-level reports, pushing due payments to AP, importing disbursements and FX rates, search endpoints, and SSO user provisioning.
Provides configurable workflows for lease origination and application processing to align with internal approvals and controls.
Implementation method includes a solution architecture phase to tailor business rules, data fields, validation scenarios, exception handling, data exchange frequency, and flows to each client’s process.
The build phase explicitly allows “customizations – if any,” governed through professional services with test planning and sustainability considerations for upgrades and security changes.
The reporting engine can be leveraged as a data export mechanism with automatic scheduled transfers via SFTP at client-defined frequencies for downstream systems.
Third-party sources also note customizable reports and dashboards, plus custom fields and data import/export to meet specific analytics and compliance outputs.
Supports customizable critical-date alarms and notifications (e.g., rent escalations, deposit maturities, expirations), which can be tuned to client thresholds and events.
Provides audit trail and compliance management features that can be aligned to internal control frameworks and review procedures.
Supports synchronization and extension of key reference data elements (e.g., lessees, projects, tax authorities, addresses, business units, entities, funders, geographies, contacts), facilitating tailored master data structures.
Allows importing detailed lease asset and deal data, enabling client-specific data capture and mapping aligned to portfolio nuances.
Offers localization to operate in multiple languages and currencies to match regional requirements, useful for global or multi-entity deployments.
LeaseAccelerator provides structured, multi‑tiered training and comprehensive user support through its LeaseAccelerator University, on‑demand education services, and customer success programs.
Offers role‑based, interactive, hands‑on training with simulated environments that mirror the production system. Courses combine walkthroughs, videos, and assessments to build platform proficiency while reinforcing lease accounting skills.
Includes three practice environments:
Implementation environments for administrators and implementation partners, with minimal preconfigured data to allow realistic scenario testing.
Center of Excellence (CoE) environments for data managers who maintain standards without altering tenant‑level parameters.
Daily User environments, fully preconfigured for operational end users focused on recurring workflows such as data entry, modifications, and reporting.
Users can certify on the platform by completing exercises in master data setup, lifecycle management, end‑of‑term activities, reporting, and user administration.
Provides instructor‑led and online training through recurring Velocity and Center of Excellence (COE) sessions.
Velocity training focuses on deep dives into specific system topics or business processes, allowing participants to discuss real‑world scenarios and ask targeted questions.
COE training targets new clients during initial implementation or onboarding new members of internal lease accounting teams. It can also serve as a refresher course for existing users.
Participants can earn Continuing Professional Education (CPE) credits, with detailed course objectives and prerequisites managed through the insightsoftware training portal.
The integrated Ask Alex onboarding assistant provides contextual, real‑time help and a guided checklist for new users once in production. It streamlines onboarding and reduces the need for full classroom training.
Training content covers master data configuration, deal and asset lifecycle events, reporting, and user management, aligned to ASC 842 and IFRS 16 compliance workflows.
InsightSoftware’s customer success team offers responsive live support, application‑specific consultation, and assistance with system adoption.
New users are supported by Customer Success Managers who guide integration, compliance alignment, and performance optimization.
Clients gain access to documentation, release notes, user guides, and advisories through the LeaseAccelerator support portal.
LeaseAccelerator’s partnership with digital adoption platform solutions has reduced training costs by up to 75%, increased engagement, and improved retention rates through interactive guidance and task automation.
LeaseAccelerator employs a multilayered security and business continuity framework incorporating technical, organizational, and procedural controls to safeguard customer data across its SaaS platform.
Platform access is restricted through username/password controls or Single Sign-On (SSO), enabled with RSA 128‑bit encryption independent of HTTPS during login.
Role-based access ensures users see only the data and functions aligned with their privileges, configured by senior engineering staff under supervisory approval.
Privileged accounts are tightly limited and reviewed quarterly, and user access is promptly revoked upon employee termination.
All session traffic uses HTTPS/TLS encryption, and all data transmissions between users or third-party systems are encrypted.
Customer data is stored in logically isolated database tablespaces to prevent cross‑tenant access.
Data at rest is encrypted where purchased as an option, and backups are encrypted across all media.
Passwords are securely hashed and never stored in plaintext or logs, with resetting possible only through secure administrative processes.
LeaseAccelerator retains system and transaction logs for over one year, reviewing them daily for anomalies and responding immediately to any irregularities.
Sensitive or unauthorized features are omitted from rendered web content, and URL manipulation is protected with session and tracking identifiers.
Technologies defend against cross‑site request forgery (CSRF), and all web forms use POST submissions for input validation.
Employees with access to production data or customer networks must pass criminal background checks and undergo annual security awareness training.
No employees have direct password visibility, and privileged access is stringently controlled.
Systems are hosted in data centers certified under ISO 27001, SOC 1, SOC 2, and PCI standards, ensuring physical and operational compliance with global benchmarks.
Only limited backup copies of data exist, stored in secure facilities consistent with business continuity design.
LeaseAccelerator undergoes annual SOC 1 Type 2 and SOC 2 Type 2 audits, producing attestation reports reviewed and remediated according to industry standards.
Audit summaries can be made available to customers through its online trust-sharing portal upon request.
The LeaseAccelerator Trust Center maintains publicly available updates on certifications, controls, and data privacy compliance.
Customers may request sandbox‑based penetration tests or vulnerability scans, subject to controlled conditions and coordination with LeaseAccelerator’s security team.
Any verified critical vulnerabilities identified are promptly remediated according to impact severity.
The system includes daily production backups and a documented Business Continuity and Disaster Recovery Plan, tested annually to validate resilience.
In the event of disruption, clients are notified within two business days, and data restoration from the latest backup is prioritized at no customer cost unless the cause is external.
Governed by a Data Processing Addendum (DPA) aligned with GDPR and global privacy law, emphasizing lawful processing and minimal retention.
LeaseAccelerator operates on a quarterly release cycle supplemented by periodic maintenance and patch updates, managed under InsightSoftware’s structured release governance framework.
Major and minor releases—identified by version numbers such as 25.1, 25.2, and 25.3.1—are issued approximately every quarter, introducing new features, UI improvements, and performance enhancements.
Smaller maintenance releases (e.g., “.1” or “.2” versions) address bug resolutions, report updates, and minor optimizations between major cycles.
Yearly collections include up to four core releases (R1 through R4) and incremental “fix” updates as necessary.
Releases are deployed using staged rollout procedures, with detailed release notes published on the LeaseAccelerator documentation portal before production updates.
Each release is accompanied by a Product Advisory, outlining timeline, downtime expectations, and required customer actions such as rescheduling retired reports or retesting custom integrations.
Updates are automatically applied to cloud tenants, with Insight Software handling patch installation, regression testing, and security validation before rollout.
Every update undergoes multi‑phase quality control, beginning with development QA, followed by UAT verification through test environments accessible to customers.
Clients are encouraged to validate key workflows and integrations in their sandbox environments before production updates, ensuring that internal processes remain stable.
Reports, dashboards, and APIs are versioned (for instance, v1 vs. v2 reports) to maintain backward compatibility during transitions.
All changes—feature introductions, UI redesigns, report retirements, and compliance improvements—are detailed within the Release Notes Center (accessible via the LeaseAccelerator Success & Support Portal).
Notifications for upcoming changes are distributed through the central insightsoftware communication hub (“insightsoftware Central”), replacing legacy channel references.
LeaseAccelerator’s policy ensures that customers retain full legal ownership of their data and have comprehensive data portability options, supported by secure export and integration capabilities.
Under the LeaseAccelerator Services Subscription Agreement, all data uploaded or entered by customers remains the property of the customer.
Customers have legal control over their lease portfolio information, lifecycle data, and reporting outputs; LeaseAccelerator acts only as a data processor/host, not the owner.
Customers specify their preferred regional data processing location (EU, US, or ANZ) before contracting; data is processed and stored in those regions unless legal compliance or service delivery requires otherwise.
Data is not transferred outside the chosen jurisdiction except for lawful compliance, service needs, or with client permission, fully honoring GDPR and similar requirements.
LeaseAccelerator offers robust outbound data export tools, including manual and scheduled exports in XML, CSV, TSV, fixed-width, and XLSX formats.
Data can be exported at any time by users and scheduled for automated delivery to client-controlled SFTP folders and email, ensuring ongoing portability and access for migration or backup.
APIs allow for synchronized exports/imports of all critical reference data, lease events, ledger entries, payments, and reports; this supports full migration to alternative systems or consolidation into downstream applications.
LeaseAccelerator’s contract renewal and cancellation terms are managed through its Services Subscription Agreement, combining flexible renewal options, defined termination rights, and transparent data handling at contract end.
Contracts typically run on annual (“Contract Year”) cycles, renewing at agreed intervals based on initial or extended Subscription Terms.
Renewal options may be set for auto-renewal, opt-in extension, or mutual agreement, depending on the original contract and client negotiation. Notice periods for intent to renew or opt-out are usually defined in the order form.
Renewal may be conditional on performance (e.g., non-payment is a breach that voids renewal rights), and terms can include price adjustments or modifications for subsequent periods.
Either party may terminate the agreement for material breach (with 30 days’ written notice and opportunity to cure), including non-payment by the customer.
Termination is also permitted immediately upon insolvency, bankruptcy, business discontinuation, or assignment for creditor benefit by either party.
After termination:
Customer must stop all use of the services and confidential information.
Both parties must delete or return confidential information in their possession.
Customer must pay all outstanding fees for services rendered up to termination.
Professional Services (if contracted) discontinue immediately; fees incurred to the termination date are payable.
LeaseAccelerator will, at customer written request (within 90 days of termination), provide a downloadable CSV file containing all customer content; after the 90-day period or earlier client instruction, all customer content is deleted from systems except for required archival or compliance retention.
LeaseAccelerator meets a wide range of compliance standards in global lease accounting, data security, and privacy, covering financial regulations, industry certifications, and legal requirements.
ASC 842 (US GAAP): Compliant with US Financial Accounting Standards Board requirements for lease accounting, including right‑of‑use (ROU) asset and lease liability recognition, classification, and disclosure protocols for both lessees and lessors.
IFRS 16 (International): Fully supports International Financial Reporting Standards for lease accounting, including unified processing and reporting for lessee and lessor contracts per IASB rules.
GASB 87: Many features extend to compliance with the Governmental Accounting Standards Board lease agreements for public sector reporting.
SOC 1 Type 2: Twice‑yearly audits confirm operational effectiveness and financial controls required for systems impacting financial reporting.
SOC 2 Type 2: Covers security, privacy, availability, processing integrity, and confidentiality. Independent third‑party audits are performed, including all five Trust Services Principles, evidencing strict cloud/SaaS security operations.
ISO 27001-certified hosting: All infrastructure partners comply with international standards for data protection, incident response, and risk management.
GDPR: Data Processing Addendum ensures full conformance with EU General Data Protection Regulation, including customer data ownership, consent, erasure, and data residency management.
PCI DSS: Payment Card Industry Data Security Standard requirements are applied within platform and hosting layers, ensuring secure handling of any payment data or financial statements integrated with third-party systems.
Other privacy laws: LeaseAccelerator meets requirements of additional regional regulations (such as CCPA in California and similar laws worldwide) via configurable privacy controls and residency.
Annual penetration testing, disaster recovery, business continuity reviews, and employee security vetting assure ongoing conformance with internal and customer-driven compliance frameworks.
