Brunswick Corporation Selects Accruent for Lease Accounting Software
Multibillion-Dollar Company to Adopt New FASB/IFRS Lease Accounting Standards with Accruent’s Solution
Austin, TX, April 10, 2018 – Accruent, the world’s leading provider of physical resource management solutions, today announced that Brunswick Corporation (NYSE: BC), has selected Accruent’s lease accounting software.
Brunswick Corporation (“Brunswick”) is a leading global designer, manufacturer, and marketer of recreation products including marine engines, boats, fitness equipment, and active recreation products with over 15,000 employees worldwide. As a multibillion-dollar company, Brunswick was focused on compliance with the new FASB/IFRS standards and ease-of-use with the lease accounting solution.
After seeking input from external auditors and analysts, Brunswick selected Accruent’s software because of key functionality such as multiple languages and control points, including security and configuration.
“The most important criterium for us was a vendor partner that had sustainability and scalability,” said Al Marchetti, Assistant Corporate Controller, Brunswick. “We wanted a strong product from a vendor with enough implementation experience and resources to get us compliant quickly.”
In addition to adopting the new FASB/IFRS lease accounting standards, Accruent’s solution helps process core financial data for reporting under the new standards, while calculating rent and expense obligations.
“Brunswick is looking to Accruent for a smooth and complete implementation,” said Greg Rivera, Senior Vice President, Retail, Accruent. “They saw Accruent as a vendor not offering promises, but the functionality they need to ensure FASB/IFRS compliance.”
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. More than 7,000 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.
Headquartered in Mettawa, Illinois, Brunswick Corporation’s leading consumer brands include Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Lankhorst Taselaar, Payne’s Marine and BLA parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.