Accruent, the world’s leading provider of software and services that enable organizations to manage the lifecycle of their physical resources, announced today that it has entered into a joint business relationship with PwC, collaborating to prepare customers for FASB/IASB lease accounting changes.

The joint business relationship enables PwC and Accruent to work together, where permitted by professional and regulatory requirements, to leverage PwC’s experience in delivering lease accounting services and Accruent’s expertise in developing and implementing software for lease administration and accounting.

As companies prepare to become FASB/IASB-compliant by first quarter of 2019 for public companies and 2020 for private companies, the focus has shifted from simply understanding the new regulations, to actively selecting a compliant lease solution with a company that has a proven history of successful data conversions, implementations and integrations.

Accruent’s solution enables customers to make needed lease reporting changes in real time by actively monitoring the changes to the lease accounting standards and incorporating them into its lease administration software. The solution also manages core financial data for the generation, management and reporting of lease standards. In addition to ensuring lease compliance and controlling costs, Accruent customers can report on both operating and finance lease obligations as well as forecast future assets and liabilities.

“Accruent’s proven solutions with PwC’s expertise in the field is a powerful combination,” said John Borgerding, CEO, Accruent. “Our customers can leverage the strengths of this relationship as they prepare to become FASB/IASB-compliant.”

About Accruent

Accruent is a global software company that helps organizations achieve superior performance by transforming how they manage their physical resources. Its innovative, industry-leading cloud-based software and services enable organizations to optimize all stages of real estate, facilities and asset management from capital planning through to IoT-based monitoring and control. With a proven track record across two decades, Accruent has created the only integrated SaaS-based framework and reporting platform for full lifecycle physical resource management. Over 6,000 global customers depend on Accruent solutions to drive out hidden costs, extend asset lifecycles, protect their brands, ensure compliance and deliver on the missions of their organization. Headquartered in Austin, Texas, Accruent serves a wide range of industries in 149 countries around the world. www.accruent.com, @accruentllc