YOUR AUTOMATION SOLUTION Lease accounting software done right
Compliance with IFRS 16 and ASC 842 is time-consuming, complex, and susceptible to manual error. With Cradle as your web-based command center, these issues disappear.
Companies from around the world trust Cradle
A better way to do lease accounting
Automate arduous tasks that come with complying with the new lease accounting standards. Standardizing your lease financial reporting process across your entire organization not only drastically reduces the opportunity for manual error but also consolidates reports in a click of a button.
Automate Compliance
Significantly reduce your time spent managing and accounting for your lease portfolio. Cradle automatically does complex present value calculations, modifications, journal entries and all of the required financial reporting needed to stay compliant.
- Engineered for your portfolio
- The best software is meaningless if it can not handle your portfolio requirements. At Cradle, we understand this. We have engineered our software to offer ultimate flexibility, no matter the payment structure, complexity of modifications, or nuance reporting requirements.
- Instant financial reports
- Once your lease portfolio is added, the financial reporting requirements are done according to the applicable lease accounting standard.
- Foreign exchange accounting
- Enter your applicable foreign exchange rates, and all foreign-dominated leases will be converted to your functional currency in accordance with IAS 21 (IFRS) and ASC 830 (US GAAP).
Know the status of your portfolio
Whether it’s receiving an email reminder to follow up regarding the renewal of a leased asset, or a request from the CFO to know the current impact of the consolidated portfolio on the financial statements—you can do it all with Cradle.
- Configurable lease management
- We understand that every company's lease administration needs are different. Having a standardized experience would fall short of our customer's needs. This is why we have an incredibly robust and customizable lease management system. Your lease administration can be tailored to suit your portfolio requirements.
- Work together
- Cradle brings the benefits of software to lease accounting. By replicating a company's corporate structure, it allows ultimate flexibility in how teams can work together on portfolios while maintaining oversight. Have a foreign subsidiary with a sizable lease portfolio? Add a superuser to that subsidiary and let them handle that specific lease portfolio.
- Ease of use
- There is more to choosing the correct lease accounting software than just functionality. If the software is strenuous to learn and unintuitive to use, it can often be more time-consuming than just doing it manually. We've designed our software specifically for how an accountant operates. With our intuitive user interface, you can get started with little to no training.
"Cradle has been a joy to work with. They have no red tape and our queries are dealt with promptly and efficiently. They were able to make custom enhancements with ease and have been very helpful and instrumental in our success for transition. Would highly recommend."
All-in-one platform
Everything you need for your lease accounting
Improve the speed, accuracy, and reliability of your lease accounting. By leveraging a combination of data and process standardization, embedded internal controls, and real-time reporting, have clear visibility into your lease portfolio.
- IFRS 16 and ASC 842
- From initial recognition to modification accounting, Cradle is a complete lease accounting solution.
- Foreign exchange accounting
- After adding your fx rates, Cradle can automatically handle all of the conversions, taking into account all the nuances that come with accounting for a lease in a foreign currency.
- Consolidated reporting
- You can run all of your reports on individual agreements, for their respecitive subsidiaries, or on the entire organization as a whole.
- Custom fields
- We understand that every company has their own needs, therefore you have the capability to customize your agreement templates to add any relevant fields or sections you want.
- Notifications
- You can add email notifications to any relevant events for an agreement.
- User roles
- By choosing from a variety of different user roles, you can be assured that only the relevant employees will access the appropriate information.
- Customer support
- If you do run into a roadblock your queries will be answered promptly.
- Straight forward pricing
- Transparent pricing that makes the return on investment unquestionable.
Frequently asked questions
- Does Cradle integrate with my accounting system?
You can configure Cradle to replicate the general ledger and cost centre environment of your applicable general ledger. Once set up, exporting your accounting data into your accounting system takes seconds.
- How much does Cradle cost?
Our pricing starts at $199 per month. This plan allows you to manage up to 20 agreements. If you have a larger portfolio, please book a demo or call +1 (888) 738-8030.
- Is Cradle worth the money?
It comes down to how you value your time. Lease accounting can easily take hundreds, if not thousands of hours, depending on the portfolio's size. By using Cradle, you can streamline your month-end reporting requirements to be done in minutes instead. It even removes the risk of manual calculation errors. Another benefit is that it allows teams from multiple business areas to work together. Not to mention the ability to have all your critical information regarding your lease portfolio at your fingertips.
- How do we get our lease data into Cradle?
We offer a number of different options. You can, of course, enter the data yourself or request us to help. Depending on the size of your portfolio, you can also leverage one of our partners. For more information, please reach out to sales@cradleaccounting.com.