About Cradle

Cradle is a cloud-based lease accounting solution designed to help small to large businesses calculate lease entries and prepare journal reports, balance sheets and cash flow statements. Key features include data export, role-based permissions, forecasting, secured document access and lease disclosures.

The application enables property managers to categorize leases by companies/subsidiaries and add and manage lease agreements at a centralized database. Team members can initiate the automated accounting of agreements by uploading related details such as start date, payment frequency, amounts and discount rates. Additionally, the solution helps professionals handle various types of modifications including scope increments/decrements, market rent reviews and ass...


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Supported Operating System(s):

Web browser (OS agnostic)

2 Reviews of Cradle

Overall rating

4.50 / 5 stars

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October 2020

Danea from Sierra Funds

Company Size: 11-50 employees

Industry: Investment Management

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

October 2020

Cradle - Lease accounting software

Fantastic. Everything has gone to plan, the software does what it's required to do without a fault and it's very fast.

Pros

Accounting for my leased assets now takes minutes and I have the peace of mind that the calculations are correct. Since using Cradle the time spent on my month-end close for lease accounting has been dramatically reduced. Cradle is also very easy to use, so there's no need to familiarize yourself or re-train your staff members when you haven’t used an aspect of the software e.g. modification accounting.

Cons

Since signing-up, Cradle has already released a number of features that have greatly helped my lease accounting/management. I appreciate the fact Cradle not only take on my feedback but roll-out functionality to specifically address these points. Noting this, there are some additional features I’d like e.g. lessor accounting. However, it's been communicated that will be rolled out in the coming months.

Reasons for Choosing Cradle

Cradle's pricing is far more competitive. Cradle had all the functionality I required to meet my company's month-end requirements.

July 2020

Frank from Exco Technologies Limited

Company Size: 5,001-10,000 employees

Industry: Executive Office

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

July 2020

IFRS 16 Transition

Cradle has been a joy to work with. Being a smaller company, they have no red tape and our queries with dealt with promptly and efficiently. They were able to make custom enhancements with ease and have been very helpful and instrumental in our success for transition to IFRS 16. Would highly recommend.

Pros

Does exactly what we need it to do. It is straight forward and easy to use even for the most basic user. Implementation was very fast and seamless. Able to roll out to individual divisions with ease.

Cons

Consolidation and FX functionality would be nice to have, but was not a critical factor for us. Help menus could be more intuitive, with better field descriptions.

Reasons for Choosing Cradle

Was only a handful of software packages that filled our need of IFRS 16 accounting without all the other expensive frills. Pricing was right as well as being a local Canadian company.