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Published: Feb 07 2018

Ferguson Enterprises to Ensure FASB/IASB Compliance with Accruent Software

Largest wholesale plumbing supplier in North America to gain transparency into lease portfolio.

Austin, Texas, February 7, 2018 - Accruent, the world's leading provider of software and services that enable organizations to manage the lifecycle of their physical resources, announced today that Ferguson Enterprises ("Ferguson") has selected Accruent's Lucernex lease administration and accounting software to ensure FASB/IASB compliance.

With more than 1,400 locations and serving customers in all 50 states, the Caribbean, Puerto Rico, and Mexico, Ferguson needed a solution to report on equipment and real estate leases. Accruent's lease accounting software is a configurable, scalable solution that can manage costs, deliver robust reporting, and increase transparency.

"We are very confident in the FASB/IASB capabilities of Accruent's solution," Carl Breiner, Vice President, Real Estate and Facilities Development, Ferguson Enterprises. "Within one platform, we also have the ability to grow and add solutions."

In addition to optimizing leases and controlling costs, Accruent's solution enables its customers to adopt the new FASB/IFRS lease accounting standards. The solution helps process core financial data for the generation, management and reporting under the new leasing standards.

"With Accruent, Ferguson can use a single provider and build on one platform to support compliance, mitigate risk, and gain transparency into their entire lease portfolio," said John Borgerding, CEO, Accruent. "We are helping our customers transition smoothly to the new lease accounting standards with our FASB/IASB-ready solution."

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