Cradle Pricing, Features, Reviews & Alternatives

Cradle

Lease Accounting Done Right

4.5/5 (2 reviews)

Cradle overview

What is Cradle?

Cradle’s Lease Accounting solution is specifically designed to orchestrate and accelerate your lease accounting compliance with ASC 842 and IFRS 16.

The new lease accounting standards are not only complicated; they're material to your financial statements. Lease accounting involves large amounts of data from disparate sources, inconsistent processes and controls, and an enormous amount of manual activities, all while following strict financial reporting guidelines. Work is often completed on spreadsheets and "tracked" with email and paper documents, making it nearly impossible to find when requested by auditors. Rushing to meet deadlines while hoping to detect material errors before they cause problems is practically impossible and not sustainable. Worse, the integrity of financial reporting is at risk.

Cradle provides tools that work in unison to manage and meet your financial reporting requirements under the new lease accounting standards. By embedding process standardization and leveraging accounting automation technology, Cradle becomes your web-based command center, from which you can
manage and account for your entire lease portfolio.

Cradle provides everything you require of the standard and to manage your lease portfolio:
- Ability to capture any contractual payment permutations
- Net present value calculations
- Modification accounting
- Financial reports, including journal entries that can be run at any date range
- Ability mirror a company's GL environment run at any date
- Foreign Exchange accounting
- Custom Fields & Events
- Email reminders

Pricing

Starting from
$79/month
Pricing options
Free
Free trial
Subscription
Value for money
View Pricing Plans

Devices

Business size

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Cradle user reviews

Excellent
1

Very good
1

Average
0
Poor
0
Terrible
0
Value for money
Features
Ease of use
Customer support
  5.0
  4.5
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Danea T.

Cradle - Lease accounting software

Used monthly for 6-12 months
Reviewed 2020-10-16
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Frank P.

IFRS 16 Transition

Used monthly for 6-12 months
Reviewed 2020-07-20
Review Source: Capterra

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Cradle pricing

Starting from
$79/month
Pricing options
Free
Free trial
Subscription
View Pricing Plans

Cradle offers a 60-day free trial, after which the software is available at $79 per month for 10 leases. Contact Cradle for more pricing information

Cradle features

Accounting
Accounting Integration
Activity Dashboard
Compliance Management
Data Import/Export
Reporting & Statistics
Reporting/Analytics

API (404 other apps)
Alerts/Notifications (331 other apps)
Audit Trail (277 other apps)
Billing & Invoicing (363 other apps)
Customizable Reports (256 other apps)
Electronic Payments (239 other apps)
Expense Tracking (262 other apps)
Invoice Management (308 other apps)
Invoice Processing (236 other apps)
Multi-Currency (320 other apps)
Recurring/Subscription Billing (231 other apps)
Third Party Integrations (347 other apps)
Workflow Management (271 other apps)

Videos and tutorials

Additional information for Cradle

Key features of Cradle

  • Amortization Schedule
  • Budgeting & Forecasting
  • Critical Date Alerts
  • For Equipment Leases
  • For Real Estate
  • Payment Tracking
  • Reporting/Analytics
View All Features

Benefits

ENGINEERED COMPLIANCE Increased accuracy is driven by removing human error from standardized lease accounting processes through automation; this reduces the risk of misstatement and ensures regulatory compliance and increased financial statement integrity.

STREAMLINE MONTH END Run your financial reports in your chosen currency—in compliance with ASC 842 &
IFRS 16—instantly, and make your month-end effortless.

KNOW THE STATUS OF YOUR PORTFOLIO Key events that impact lease accounting are captured in one place. Everyone involved, from staff accountants to the controller, and other teams in the organization can access critical leasing information when it counts.

DO MORE WITH LESS By automating important but repetitive tasks, accounting can be more agile to your
business's needs. As demands on the organization grow, you are ready to scale to meet the challenge.

CENTRALIZE DOCUMENTATION Attach and store all supporting documentation in one secure location.