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Jay Song, CTO“We aim to offer advanced lease accounting software that streamlines the process of recording and reporting lease accounting transactions,” says Jay Song, CTO of UGAAP.
Developed from an accountant’s perspective, UGAAP’s software caters to finance and accounting departments. The firm’s commitment stems from the understanding that lease accounting is labor-intensive. Consequently, its software provides clients with easy access to a comprehensive data repository, which is essential for preparing financial reports on time. Incorporating the data sourced from the software directly into the footnote expedites and streamlines the lease accounting process.
UGAAP’s competitive advantage lies in its technical accounting expertise. Most of its support staff comprises Certified Public Accountants (CPAs), who assist clients during the implementation phase and ongoing lease accounting process. The firm’s CPAs are well-equipped to provide guidance and solutions to clients due to their extensive exposure to complex accounting scenarios.
In addition to technical proficiency, UGAAP places a strong emphasis on customer-centricity. The firm accommodates various customer requests for new features, which allows it to adapt to evolving needs. Its commitment to customer satisfaction is also exemplified by round-the-clock technical support.
“Data security and customer data privacy are non-negotiable priorities for us,” adds Song.
UGAAP’s software adeptly manages a high volume of leases through robust automation. It simplifies lease tracking, especially for crucial dates like lease expirations. UGAAP’s software and support team also handles lease modifications, providing precise journal entries and compliant reports. The software effortlessly manages the complexities of remeasurement and currency translation for international clients through automated processes and user-friendly mechanisms for rate updates.
One of the company’s distinctive features is its unwavering commitment to user-friendliness. The software is easy to use due to its customizability and intuitive structure. The firm’s interface design offers straightforward navigation and accessibility, ensuring a seamless and hassle-free user experience.
Our mission is to offer advanced lease accounting software that streamlines the process of recording lease accounting transactions.
Using its software and technical prowess, UGAAP has assisted multiple businesses in streamlining their lease accounting. For instance, when new accounting standards were introduced, Madison Industries, a global powerhouse with over 80 subsidiaries in 20 countries, first delegated the management of lease accounting to its subsidiaries. To meet audit deadlines, a subsidiary purchased UGAAP lease accounting software. Following their recommendation and recognizing the need for a unified solution, Madison Industries opted for UGAAP for global lease accounting. The firm collaborated with the client and restructured processes to align subsidiaries across continents, resulting in streamlined operations, simplified lease imports, robust exchange rate mechanisms, and vital financial support. This partnership gave Madison Industries unprecedented visibility of its lease portfolio within a single platform.
UGAAP’s comprehensive solution addresses the complex challenges of lease accounting while streamlining the process, enhancing compliance, and providing invaluable support to clients worldwide. The firm’s commitment to customer satisfaction, data security, and continuous improvement enables it to remain at the forefront of lease accounting innovation, helping organizations to easily achieve their financial and compliance goals
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Company
UGAAP
Management
Jay Song, CTO
Description
UGAAP offers a comprehensive and user-friendly software solution for lease accounting management. Its features, such as generating reports, providing transition support, and offering dedicated consultation, coupled with the backing of accounting experts, make it a unique and valuable tool for businesses navigating lease accounting standards changes.
