PowerPlan Inc.: PowerPlan Announces Technology Partnership with LEVERTON to Accelerate Adoption of the New Lease Standards

ATLANTA, May 31, 2018 (GLOBE NEWSWIRE) -- PowerPlan, a leading provider of lease accounting software, has announced a strategic technology partnership with LEVERTON, the leading AI-based document and data abstraction platform. The partnership, which involves the product integration of PowerPlan and LEVERTON, allows users to streamline management of all leases, including the automatic extraction and structuring of data from lease asset documents. This comes at a crucial time as public companies are rushing to meet IASB's and FASB's new lease accounting standards (IFRS16 and US GAAP ASC842) deadline of January 1, 2019.

With many corporations uncovering a number of leases up to five times greater than they originally expected, it's key to be able to find and manage leases quickly according to the new standards. LEVERTON gives organizations the ability to gather and centralize their data in over 30 languages and PowerPlan simplifies holistic lease management and adoption planning. "The integration will save users time and money, in addition to ensuring that they uncover all of the data in their leases that need to be reported for GAAP, IFRS or FERC financials," said Brent Burns, Chief Operating Officer of PowerPlan. Together, LEVERTON and PowerPlan help organizations support faster compliance with the lease standards.

"Both PowerPlan and LEVERTON are committed to helping global companies solve their lease accounting challenges efficiently and strategically. We are pleased to introduce the partnerships to our markets and joint customers who have already benefitted immensely from this integration," said Abhinav "Abe" Somani, CEO of LEVERTON. The integration is now available worldwide.

About PowerPlan

PowerPlan software provides financial insight into how complex rules and regulations impact your organization - empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email [e-mail] (mailto:[e-mail]) or visit www.powerplan.com (http://www.powerplan.com/).

About LEVERTON
LEVERTON provides deep insights from unstructured data found in corporate and legal documents. Trusted by over 100 leading companies to create value through structured data with its AI-powered, deep learning, data extraction platform, LEVERTON is located globally, with offices in New York, Dallas, London, and Berlin. Better Data. Smarter Decisions.
Contact us at www.leverton.ai (http://www.leverton.ai/).

Contacts

PowerPlan

Drea Toretti
VP, Marketing
[e-mail] (mailto:[e-mail])
678 202 1680

LEVERTON

Catherine Ostheimer
VP, Marketing
[e-mail] (mailto:[e-mail])
203 921 9700

For more information, contact:
[e-mail] (mailto:[e-mail])

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Source: PowerPlan Inc. via Globenewswire