Lease accounting and management software is a specialized type of business software designed to help organizations effectively manage and account for their lease agreements. It supports compliance with accounting standards such as ASC 842 and IFRS 16 by automating lease classification, measurement. It also generates comprehensive reports on lease liabilities, assets, expenses, and other financial metrics to facilitate financial statement preparation and analysis. This software is critical for companies that lease assets such as real estate, equipment, and vehicles, enabling them to adhere to relevant accounting standards and regulations.

Lease Accounting and Management Software

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In the world of IT, there's so much more emphasis on buying as opposed to building. That’s the model for IT going forward; there’s much less focus on the heavy-duty R&amp;D work. And it means that you have to be very skilled at orchestration and configuration. But you need some form of architectural discipline. Otherwise, one day you’ll discover that your SAP environment is configured so much that you've customized yourself into a corner, and you're adversely impacting the business. Concerning the security space, the configs that have gone haywire in your environment are an attack surface; so what you thought was secure turns out not to be. That's a tough issue to address because in some respects, the SAPs of the world make it too easy to customize all these configs.

Having gone through that process of building and recreating snowflakes of ERP packages through SAP and Oracle, among others, I have a few scars there. But there are a couple of dynamics to consider. If you look at it from a superficial perspective, there's a buy versus build dynamic. The buying aspect is just dropping everything into one line, which is not reality. Then there's another dynamic that starts to change that, depending on what other components go with it — how much is it tied to your core business, and what is the cost to be able to manage it? And that gets you to the second phase. 

If you move from a project perspective to a program or product perspective, you start to realize that while you could customize something, you need to know the cost of that customization over time. And you have to project that cost from day one. If you instill that thinking in your staff, they start to see customization very differently. They’re able to recognize when the cost to customize something outweighs the value we're going to get out of it. That changes the dynamic.

Buying, no question at all, at least in hi-ed IT. 10 years ago, maybe 50/50. But now "building" a system almost does not come into discussion for any substantial needs/systems.

Absolutely buying. This actually allows a dynamic environment. When you put your efforts on building it is usually for a large scale solutions which means putting lots of resources. When a change is required, you will be opposed by management as it will be hard to explain why all that effort should now be thrown away. When buying, the efforts invested are usually way lower thus easier to replace.

Our organization  emphasized but over build for several years. This has led to quite a mess of SaaS solutions and frustration from our business partners that they never truly have the solutions they need. Custom built solutions are still necessary but have become they solution of last resort for many teams.

I think that today, with uncountable tools that you can grab from the market, having a huge Development Team is like trying to reinvent the weel.
Customization is a different chapter from DEVELOPMENT, may be Personalization. In doing these activities you will need a small but broad team (internal and/or external) with flexible capabilities.
On the other hand, we must discuss Low-Code/No-Code apps, I was using one for more than a year, and really is amazing the power and time saver that could be for your IT team.  Sometimes other areas are looking for quick-esay-cheap apps/response, from my perspective that's no longer Development in-house.

Buying is the focus specially industry is on cloud and SaaS is going trend.

As with everything with IT, it depends. I think there are great commercial solutions out there that provide core capabilities that business needs.  Why build accounting and financial solutions when there are are solutions available?  But if there’s something unique to your company that can give you a competitive edge, build it yourself.  Don’t buy what everybody else is doing.  Find that niche that makes you different, build your own systems and leverage the heck out of that with your customers. In a B2C world, that makes a world of difference.

Buying, hands down. There neither is time or resources to go through the heavy PM/Design/Development process when you can easily choose from available options in the market. However, the selection process is also thorough and take it’s sweet time from starting the search to POCs to negotiations and then final rollout.

It depends on if you are separating the IT team from software development team. If you are, then IT mostly buys solutions. It's very rare they build them. If you include the software team, then they build solutions by definition, but they're also buying solutions at the same time. There are a lot of solutions that are used by the software team that need to be bought.

With few exceptions, the focus is on buying solutions, then attempting to use the various pieces to support an overall strategy. Creating and supporting a team that can build a solution is difficult and time-consuming, and is typically unable to match other existing solutions. Carefully managing the various SaaS environment is the "new IT".

It's been changing to geared towards buying instead of building. It's cost effective, more flexibility, security and reliability. Hands off maintenance and upgrades.

In my current organization (very large state university system) there is a strong emphasis on buying off-the-shelf solutions, especially in our centralized IT division.  This makes sense because OTS software minimizes the burden of support on the purchasing organization.  It also pushes the responsibility of security and accessibility compliance onto the vendor.  However, OTS software still requires integration, and as such there remains a need to retain technical skills in the organization to ensure all the OTS software plays nicely with each other.


Additionally, many departments in my organization have very acute and specific needs that simply cannot be met by OTS software -- or if they can be met, the solutions provide so much extraneous functionality (at great cost) as to not be remotely feasible as a solution.  As a technical project manager in such a department, I manage a team of developers who build custom software solutions specifically to address such acute/specific needs.  We also integrate a lot of OTS software into our custom solutions.


In summary: central IT defers to buying solutions but many departments require small, niche-specific custom solutions to be built in-house.

There's a practical rule of thumb: cost of opportunity, the time needed for development vs. deploying an existing solution.
Also, the more core-business the less you're likely to find an external "tailored" solution, adaptations are to be expected for business practices and software.

Buying, hands down. There neither is time or resources to go through the heavy PM/Design/Development process when you can easily choose from available options in the market. However, the selection process is also thorough and take it’s sweet time from starting the search to POCs to negotiations and then final rollout.

Is IT more focused on buying or building solutions?

I'm in IT mostly because I like technology and people ask me for help no matter what. My career literally started at the help desk because back in the late ‘90s, people would ask me for help and I'd be able to help them. Next thing you know, my career evolved into engineering and architecture and then leadership.

I stumbled upon the Apple Macintosh in university in ‘86 and became hooked on tech. I found it was something I was really good at. It just came naturally and I became the person to answer everyone’s questions. It was my passion and I’m fortunate that I could make it my career. “Do what you love.” 

I still love the “techie” stuff, maintaining my home network, talking to family and friends about gadgets, and “geeking out” with the team. But I’ve long since been out of the daily operational aspect of IT, focusing on leadership and mentoring while connecting IT to the business mission… transforming IT from a service organization to an enterprise solution engine.

My original degree was in Atmospheric Science/Meteorology. While I was doing a Masters degree I discovered I was spending ~20 minutes a day thinking about the science and 12 hours translating that into code (the Pascal P-System on an Apple II.. my how times have changed).

That seemed backwards to me so I went back to school for a PhD in Comp Sci to see if I could figure out how to help other scientists use technology to solve hard problems. 

I'm still working on it.

To be honest, it was Napster... I wanted to pirate all the latest songs, and so I set out to build a new computer from scratch. Going through that process helped me learn the ins and outs of a computer. Needless to say I had one of the biggest MP3 collections out there... As I progressed with my understanding of computers and the internet, I got an interest in moving into computers in higher education. Unfortunately since I did not plan properly in highschool, I had no science or math courses under my belt! I was not fit for any computer science programs out there, so I had to find a loophole and get into a business degree focused in IT. From there, it was smooth sailing all they way to where I am today 👏

I chose IT as career in 1996 as a counter intuitive measure. I was doing M Tech in Industrial Engineering where I realized that next set of activities i.e. optimization and business value can be derived from IT system much more than time and motion studies. During M Tech - some of the projects I did and witnessed convinced me to take IT as a career

Grew up on a farm in a small town in Iowa and knew early on that I hated farming. Started programming in High School thanks to a great Algebra teacher, majored in Computer Science and had a fantastic internship at Control Data Systems (dating myself) that quickly taught me the skills of SysAdmin/IT

Always enjoyed computers and programming.
And found accounting far too boring.
So IT is was.

I was majoring in Electrical Engineering in the 70's but got hooked when I took a required programming course.  Then I did a co-op stint with the government and I was doing data profiling, text analysis and network traffic simulations on mainframes and minis.  I feel lucky to be part of the first generation that found ways to speed up and transform business processes across many industries and disciplines.

Providence. During my college days way back in early 80s a friend advised that I should look for a career in the field of computers. I didn’t think much about it but somewhere in the back of my mind there was a niggling thought “can I” ?

After getting my degree in Physics the available opportunities dried quickly, and I happened to chance on a newspaper advertisement (the era before the internet) for applications for a Hardware Engineer. My interest in tinkering with electronics in school and college came in handy in the interview and I was in. 

As a Field Engineer I aspired to be in the customers shoes - the EDP and IT Managers. Got myself a degree in Software Technology which made a great combination of Hardware and Software. Opportunities came for this unique combination and the rest is history. 

The journey was exciting and if I had to relive my life, I would probably change nothing.

My focus is business transformation, connecting technology to a business strategy and process. Based on org alignment it can fall either in IT or in business.

My mother had a saying, “If you have not done something to improve a human’s life in some way, then you have not truly lived,” and I wanted to follow in her footsteps and become a doctor to make an impact on the world. 

Unfortunately, being two years younger than my classmates, I was deemed ineligible to pursue medicine for another year at least. Rather than waste a year waiting for eligibility, my mother persuaded me to take up engineering, my father's profession. She said that there were many ways to impact humans and that opportunity would always present itself to people who had the desire to help others. I took that to heart, and though I pursued engineering and later computer science, I focused on smart technologies for healthcare applications in my Masters and Ph.D. 

While teaching and research were fulfilling, I felt that there was more that I could do to improve people's lives, and so I left academia and joined IT. I am passionate about using technology to enhance the human quality of life and very excited about seeing our impact on humanity!

It was a fast-growing area when I started my career. Over the years, I became passionate about solving business issues through technology. It is good to see the fruits of labor when sales go out and sell more, finance pay the bills, collect the money, Support serving the customers, of course, HR rewarding employees. All of that requires IT systems in one way or another. There is so much joy in doing it. I love it every day.

Passion, I've been passionate about technology and electronics since childhood

I started playing with technology at school, so taking a degree in it came naturally. Then started as a graduate in IT within a large company and worked my way up from there.

I liked the idea that IT was a meritocracy and provided a chance for all.

Grown up in a small town of Pakistan. Done BCS in 2004 and jumped in to programming field. Still working with my  technical teams and also train them .  IT is my passion and love to work with new technologies .Helping the society with new solutions.

from a very early stage in my childhood, from apprx. 11yrs of age, it was undoubtedly obvious to me that my future was in technology. Guess what? back then there was no clue about IT nor a PC nor a MAC - nor any of the exciting technologies that got exposed to in our life. Back then it was "electronics" and whatever else there was able to move, illuminate, rotate etc by the magic of electrical engineering.
Then, at some point in my life I got my hands on a 8088 powered "computer" and the big question mark on my face of "what the hack do I do with that "assembler" language? However, the seed has been planted and blossomed when I came across my 1st x286, DOS, Pascal language, IBM token-ring networks, 3270 for mainframe access, modems, muxes,... etc.
Wow, feels like ages ago but still today, technology and what we can get from it or accomplish with it, is as exciting to me as it was back when I was at the age of 11...

Back in high school, we did this "one day in the life" type of activity where we would spend a day working with a professional in a field of our choice.
Since I always liked computers and spent so much time working on one, it made sense for me to spend it with Denis, a programmer my dad had hired to help with his library business. 



3 years later I had my first IT job as a programmer working with the same Denis, and then parted ways to be a technical writer, then BA and then PM.


13 years later, out of the blue, Denis died of a heart attack. His main client needed help and since I had worked for them previously for many years, many of my previous projects still being used, I got the job of IT Director for that company and found out I had some serious leadership skills. 


It's a strange feeling knowing that your big break happened because someone died, so I try to be as appreciative as possible and make the very most of it.

I was always a process improvement and out of the box thinking person and IT has such a long history of change to it. This is what originally brought me to IT was the always expect change to occur environment. I truly love what I do and always looking to better my outcomes through ensuring that my organization is successful in theirs.

While at college majoring in Economics, my best buddy, who was majoring in computer science, got me interested in taking some computer courses. I got hooked. Long story short, I ended up with a Masters degree in Management of Technology, wrote a few mobile apps, and climbed the technology ladder to where I am now as Director of IT for an MSSP.

I am in IT because my employeers heavily invested in their IT departments. 

My background: started as a consultant in a boutique consultancy comparable to Gartner for Data &amp; Analytics, I wanted to consult independently customers on business software and best practices especially on data analytics strategy. 

After becoming father I joined In house positions and most of my roles were assigned to IT department. I am flexible in department issues - because it is only a small part in delivering great results in a data analytics iniative.

I was majoring in Electrical Engineering in the 70&#39;s but got hooked when I took a required programming course.  Then I did a co-op stint with the government and I was doing data profiling, text analysis and network traffic simulations on mainframes and minis.  I feel lucky to be part of the first generation that found ways to speed up and transform business processes across many industries and disciplines.

Best Lease Accounting and Management Software Reviews 2024 | Gartner Peer Insights

Leascake is a valuable tool for me to compile data from multiple properties across our portfolio with different clients and operating platforms. 

I'm a daily Leasecake user. It makes my work more efficient and I'm able to accomplish more with the organizational tools offered through the product.

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