It's that time of year again: peer-to-peer reviews aggregator, G2, has released its quarterly rankings, sharing the very best of business software, as ranked by actual users. In the Winter 2024 reports, NetLease topped the charts in multiple categories for Lease Accounting Software — meaning users like you really love our platform.
We're grateful to those from the thousands of companies NetLease serves who submitted reviews. Our rankings soar above the competition, and we couldn't have done it without you!
Lessees and lessors reporting under FASB, GASB, IFRS, and FASAB need to maintain compliant, accurate finance and operating lease accounting. The NetLease platform helps users comply with the new lease accounting standards with features such as journal entries, reports, and disclosures.
NetLease by Netgain shines in G2's Winter 2024 Reports, named a Leader in the Lease Account grid, and scoring:
- #1 in Relationship Index for Lease Accounting
- #1 Momentum Grid for Lease Accounting
- #1 Results Index for Lease Accounting
Why use Lease Accounting Software?
Reporting requirements for lease accounting have significantly expanded, and organizations of all sizes need to comply. Keeping up with accounting standards, such as the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic (ASC 842) and the International Financial Reporting Standards (IFRS 16), is crucial to ensuring a smooth audit, but it can be a challenge for accountants with a lot on their plates.
Lease accounting systems, such as NetLease, help companies maintain compliance with regulations like the IFRS 16 and ASC 842. This automated software ensures accurate, transparent reporting of lease obligations, reducing the risk of noncompliance penalties while increasing efficiency — making accountants' lives easier.
Benefits of lease accounting software include:
- Improving accuracy and reducing manual effort: Automating tasks like lease data entry, calculations, and reporting processes saves time and resources while reducing the risk of manual errors.
- Increased visibility and transparency: Manage your entire lease portfolio all in one place and standardize lease data, ensuring transparency in financial statements and disclosures. Easy access to lease terms, payments, renewal options, and other important details improves lease management and informs decision-making.
- Better financial planning and analysis: Lease accounting software offers insights into the financial impact of leases and enables analysis of different lease scenarios, allowing deeper insights that inform long-term forecasting.
- Reduced risk: Specialized software helps teams stay on top of lease expirations, renewal dates, and compliance deadlines. Solutions like NetLease also include audit trail functionality and support documentation that demonstrates compliance during audits.
Why Choose NetLease?
With so many systems out there, what makes NetLease shine? Our software simplifies complex lease accounting processes while delivering the technical functionality your organization needs. Customers love its ease of use and praise our responsive support team.
NetLease integrates seamlessly with any Enterprise Resource Planning (ERP) system, allowing accountants to easily manage in-house leases, whether your organization has a handful or a huge portfolio of leases.
Our automated features ensure compliance and save you time and money by reducing manual effort and errors. These include:
- Lease amortization schedules and disclosures
- Posting to the general ledger
- Disclosure reporting
- Roll-forward and waterfall reports
- Automated modifications and terminations
- Support for operating and financial leases
- A complete audit trail
With NetLease, you'll stay GAAP compliant without the hassle.
NetLease is also a must-have for NetSuite users because NetLease is embedded and customizable within NetSuite.
But don't take our word for it. Here's what our customers are saying in the G2 Winter 2024 Reports:
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#1 in Relationship Index for Lease Accounting
Real estate is all about relationships. Tenants and owners need to have accurate, up-to-date information and communicate effectively with each other to manage lease portfolios and meet reporting requirements — and the same goes for their lease accounting software provided. Both lessees and lessors need to know that their software vendor will get them up and running quickly and easily and be there when they need help with the platform.
Here's where Netgain shines. NetLease came in first place for Best Relationship — meaning our software had the highest overall Relationship Score among 60 vendors in the category. With a score of 97%, NetLease ranks almost 10 basis points higher than the category average of 88%.
The Relationship Index factors in rankings for Ease of Doing Business With, Quality of Support, and Likelihood to Recommend, combined with the total number of reviews — another marker of trust. Users not only like working with our team, they're telling others about our software. NetLease ranked several basis points higher than the category average for Likelihood to Recommend — 96% over 91%.
#1 Momentum Grid for Lease Accounting
With customer relationships like these, we're growing fast. NetLease is also number one in G2's Momentum Grid, which ranks trending software platforms. While the average Momentum Grid score is just 45%, NetLease soars ahead of the competition at 77%.
Current users love NetLease, and the proof is in our upward trends. The Momentum Grid includes rankings for customer satisfaction, popularity, quality, and the age of the reviews.
The Momentum Grid score also factors in employee, web, reviews, and social growth, including year-over-year changes. NetLease more than doubled the category average for review growth — 98% vs. 48% — and soared ahead in web growth, scoring 81% over 49%.
#1 in Results Index for Lease Accounting
But none of this matters if it's not producing results. NetLease delivers a category-leading Overall Results Score of 91% — 10 basis points higher than the 81% average.
To stay current with your lease portfolio and meet reporting deadlines, you have no time to waste getting started. Using NetLease, you'll go live 37% faster than with other products ranked in this category. Our Time to Go Live is just 2.85 months vs. the 4.49-month average.
In addition, NetLease is more than twice as fast as the category average for Return on Investment, with an ROI time of 9.5 months, compared to the category average of just under 20 months.
Ready to get started? Contact us for a product demo and learn how NetLease can streamline your processes, improve accuracy, and maintain compliance across your lease accounting ecosystem.
