Before you search: Know your current contract
You need to know exactly what your current contract says. Many SaaS (Software as a Service) agreements are designed to be sticky – meaning they may have clauses that make it inconvenient or expensive to switch. To see what you are dealing with, ask your procurement or legal team for the Master Service Agreement (MSA) and the most recent Statement of Work (SOW). Look for answers to these 3 questions:
1. What are your opt-out requirements?
Switching often isn’t as easy as letting your current contract expire. Check your current contract for the following:
- The auto-renewal clause: Most enterprise contracts renew automatically unless you provide formal notice by a specific deadline. Miss that window, and you’re likely locked in for another full term – usually a year.
- The notice period: Auto-renewals typically require 30, 60, or 90 days’ notice. If your contract ends December 31 with a 90-day window, you must cancel by October 1. Ensure you allow time to use the contractually required method (like certified mail) to make it official.
- Termination for convenience: If you’ve already missed your renewal deadline, check for a “termination for convenience” clause. You may have to pay a buyout fee, but it’s helpful to know your “walk-away” price.
2. What do you need to know to move your data?
You own your financial data, but that doesn’t mean it will be easy to move it from one system to another. Check your contract for information on:
- Export rights: A data export clause used to be a courtesy item, but due to changing regulations they are becoming the default. Though nearly all contracts will guarantee you rights to a data export, the stipulations around the export will vary.
- Export window: Most contracts give you 30 to 90 days after the contract ends to retrieve your data. After that, the vendor is legally (and often contractually) obligated to delete it.
- Format: Standard clauses usually promise a “machine-readable format.” In 2026, this typically means JSON, CSV, or SQL. But watch out for proprietary formats that you may not be able to open elsewhere.
- Conversion fees: Watch out for data extraction fees. Some vendors charge to export your data or convert it from a proprietary format. If your contract requires manual assistance for the move, budget for that exit cost now.
3. How much solution overlap should you plan for?
You can’t simply flip a switch on Friday and go live on Monday. A smooth transition requires an intentional overlap.
To protect your data integrity, plan for the following:
- 1 month of parallel running: Run both systems side-by-side to verify accuracy.
- 3–6 months of read-only access: Maintain access to your old system to troubleshoot discrepancies.
- Full audit support: Keep access through your first year-end audit. Auditors will want to see the old math to validate that the migration was handled correctly.
The timeline impact
Don’t let your current contract dictate your future tech stack. To avoid a forced renewal, you need to work backward from your notification deadline.
If your contract requires 90 days’ notice, start your search 7 months out. This creates a buffer to:
- Vet new providers without rushing.
- Implement the new system before the old one expires.
- Run both systems side-by-side for 30 days as a safety net.
Pro tip: Always ask potential new vendors if they have a conversion tool or template specifically for moving data from your current provider. For example, LeaseQuery’s Existing Balance Migration Solution simplifies the process of moving data from your prior provider in an audit-ready way.
Final thoughts
If you are thinking about switching lease accounting softwares, you probably have a very good reason. Make the switching process easier on yourself with the right preparation. By understanding your current exit rules and giving yourself adequate runway, you can move from a system that holds you back to one that moves your finance team forward.
