LeaseCrunch® provides a comprehensive, cloud-based software solution to help companies implement the new lease accounting standards, ASC 842 and IFRS 16.
The team at LeaseCrunch® is made up of CPAs, former Big 4 public accounting auditors, software development veterans and a former member of the FASB staff. We are headquartered in the Greater Milwaukee Area, where the long Wisconsin winters give us more time to focus on improving lease accounting.
Crunching the Numbers
We chose “Crunch” to be part of our name in order to convey our ability to ‘crunch the numbers so you don’t have to.’ We put a ton of work into simplicity of design in order to minimize the time the user needs to be in the software, get all their lease crunching done and produce all the necessary reports. Also, since ‘crunching the numbers’ is a common joke about accountants, we thought it was an ode to our culture to keep things light and poke fun at ourselves, while building serious enterprise software that solves a real need in the marketplace.
Knowing the tremendous fee pressure on CPA firms, our solution is essentially an ‘audit in a box’ for lease accounting. The LeaseCrunch® deliverables reduce the time it takes clients to prepare for an audit and reduce the time it takes CPA firms to perform the audit. We make CPA firms and their clients happy with the efficiency that they can achieve.
We knew that each company’s desire for their CPA’s involvement would vary significantly, from accounting outsourcing to DIY clients. To accommodate the spectrum, our single interface allows the CPA firm to either act in a bookkeeping capacity or easily invite and hand off the bookkeeping role to their clients. LeaseCrunch® is designed to accommodate the needs for companies with large, complex portfolios, while still being a cost-effective solution for companies with as little as 1-5 leases, who most likely have an office lease material enough requiring full implementation.
What We Are Not
LeaseCrunch® is not an accounting module bolted onto existing Lease Management software; thus, we are not constrained by a solution’s history whose main purpose is to manage the lessee’s maintenance and life cycle of the lease.
We are not a solution with a million screens that requires a lengthy user manual to navigate and use the software, large implementation fees and extensive training just to get up and running. We solicited feedback from our large network of CPAs and end users with an intense focus on building an intuitive interface, with only the minimum required fields, tooltips to guide you in your decision making process, effortless reporting and no need for a user guide.
We are not a solution sold directly to an end user. 100% of CFOs interviewed said they would be engaging with their CPA firm for assistance in implementing the standard. Since the CPA firm will assist with implementation and ultimately audit the final records, the CPA firm’s familiarity with the software and it’s reporting will create efficiencies that will be shared by both the firm and the client.