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Fiserv & LeaseQuery to Streamline Lease Accounting Processes
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Fiserv, Inc. yesterday announced a collaboration with specialized consulting-services and software-provider LeaseQuery.
LeaseQuery’s CPA-approved software helps remove lease-accounting errors. The collaboration will provide Fiserv’s Prologue Financials accounting-software users access to it.
Users will be in a better position to streamline their financial-accounting processes with the help of Prologue Financials’ built-in automation and controls as they now get additional support from LeaseQuery’s cloud-based lease-accounting capabilities that include automated lease assets, journal entries and disclosure reports.
Notably, Fiserv’s shares have declined 13.1% year to date against 3.9% growth of the industry it belongs to.
The move makes sense as the process of tracking leases has become cumbersome due to a huge increase in lease liabilities in balance sheets after the Financial Accounting Standards Board issued ASC 842. This new standard for lease accounting demands recognition of operating leases for retail branches and office space upon initiation of the lease.
"The continually changing accounting environment is a catalyst for automation, which can improve not only the efficiency of the lease accounting process, but also its accuracy," said Aldor Delp, senior vice president and general manager, Digital Efficiency Group at Fiserv.
The long-term expected earnings per share (three to five years) growth rate for IQVIA Holdings, ICF International and NV5 Global are 9.9%, 10% and 13.7%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Fiserv & LeaseQuery to Streamline Lease Accounting Processes
Fiserv, Inc. yesterday announced a collaboration with specialized consulting-services and software-provider LeaseQuery.
LeaseQuery’s CPA-approved software helps remove lease-accounting errors. The collaboration will provide Fiserv’s Prologue Financials accounting-software users access to it.
Users will be in a better position to streamline their financial-accounting processes with the help of Prologue Financials’ built-in automation and controls as they now get additional support from LeaseQuery’s cloud-based lease-accounting capabilities that include automated lease assets, journal entries and disclosure reports.
Notably, Fiserv’s shares have declined 13.1% year to date against 3.9% growth of the industry it belongs to.
The move makes sense as the process of tracking leases has become cumbersome due to a huge increase in lease liabilities in balance sheets after the Financial Accounting Standards Board issued ASC 842. This new standard for lease accounting demands recognition of operating leases for retail branches and office space upon initiation of the lease.
"The continually changing accounting environment is a catalyst for automation, which can improve not only the efficiency of the lease accounting process, but also its accuracy," said Aldor Delp, senior vice president and general manager, Digital Efficiency Group at Fiserv.
Zacks Rank and Key Picks
Currently, Fiserv has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are IQVIA Holdings (IQV - Free Report) , ICF International (ICFI - Free Report) and NV5 Global (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for IQVIA Holdings, ICF International and NV5 Global are 9.9%, 10% and 13.7%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>