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.”