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Dan Galenkamp Instrumental In Delivering Industry-leading Lease Accounting Software Solution

Dan Galenkamp instrumental in delivering industry-leading lease accounting software solution

Daniel Galenkamp has been appointed Vice President of Product Management and Development at CoStar Real Estate Manager. CoStar is the industry-leading lease management software provider.

In this position, Galenkamp is responsible for the roadmap of application development projects based on market, sales and user needs. Galenkamp also works closely with the application development teams to design, build and deliver software.

Galenkamps’ extensive experience in lease management and customer support is a valuable addition to CoStar’s lease accounting, lease administration, portfolio, project and transaction management solutions.

“Dan’s hands-on support approach aligns with our focus on customer support,” said Andy Thomas, president of CoStar Real Estate Manager. “In today’s environment, the shift in accounting policy has affected businesses across many industries. We are excited to add Dan’s expertise to the CoStar team. He can help us further our commitment to helping companies face the challenge of complying with the new lease accounting rules.”

Today, as companies race to comply with new lease accounting standards by FASB and IASB, CoStar comes highly recommended as a comprehensive end-to-end solution. The new standards must be implemented by year-end and require companies to recognize practically all obligations for real estate, equipment and other leased assets on their balance sheets. CoStar’s Lease Manager software is a software-as-a-service (SaaS) and offers out-of-the-box functionality that includes balance sheet impact, classification tests, amortization schedules, journal entry processing and GL system integration. CoStar also completes an SSAE 18 audit annually to ensure compliance with Sarbanes Oxley’s requirement to demonstrate effective internal controls and procedures for financial reporting.

CoStar has numerous success stories associated with compliance with new lease accounting standards. And supports every aspect of the lease lifecycle, enabling corporations to better manage the execution of set strategies and meet company goals.