FinQuery and IRIS Software Group have announced that FinQuery has acquired Innervision, IRIS's lease accounting platform, establishing a dedicated UK operation named FinQuery UK. It matters because it hands FRS 102 and IFRS 16 compliance expertise, and an existing UK customer base, to a platform that can now automate lease accounting workflows for those customers at greater scale than a standalone specialist could.

FinQuery is an Atlanta-based subledger platform used by more than 8,700 organisations worldwide to manage financial obligations and capital assets, automating lease accounting, fixed asset tracking, debt management and prepaid expenses through its proprietary Accountable AI technology.

Innervision is a UK lease accounting and lease portfolio management specialist that had operated as IRIS Innervision within IRIS Software Group, a UK-headquartered business software provider, helping medium-sized and enterprise organisations automate compliance with IFRS 16 and FRS 102 standards.

The acquisition targets integration of Innervision's localised accounting expertise into FinQuery's broader enterprise software portfolio, merging Innervision's regional compliance functions with FinQuery's primary subledger system.

Existing Innervision customers will keep their current services while gaining access to FinQuery's wider financial technology over time, with onboarding designed to migrate existing lease balances rather than require re-entry.

FinQuery chief executive Joe Schab said: "The UK is an important growth market for FinQuery, and Innervision gives us something we value enormously: an established customer base, deep local expertise, and a team that understands the accounting needs of UK organisations."

Schab added: "By bringing Innervision into FinQuery, we can combine that expertise with the scale, product investment, and broader capabilities of the FinQuery platform. Our goal is straightforward: give UK accounting and finance teams a better way to manage complex accounting today and a platform that can grow with them well beyond lease accounting."

For the sector, folding a UK compliance specialist into a larger US subledger platform signals that lease accounting automation is consolidating around a small number of scaled platforms rather than remaining split between regional compliance specialists and generalist finance software providers.

Source: Portal ERP / CPA Practice Advisor