George Azih was born on October 1979 in Nigeria. He is the founder and CEO of LeaseQuery, an accounting software company that uses CPA-approved lease accounting software to help over 10,000 accountants and other financial professionals prevent lease accounting problems.
Azih immigrated to the USA from Nigeria at the age of 16. The threshold for success has always been high for Azih since he comes from a well-educated Nigerian family and his siblings have excellent careers in law and medicine.
George Azih studied accounting at the University of Georgia (UGA) between 1998 and 2003. He credits the groundwork he gained at UGA from professors like the late Dan Smith for his success. Azih donated a sizable donation to the Dan Smith Support Fund in 2020 to endow a chair in Dan Smith’s memory. Azih is still devoted to his alma mater despite difficult circumstances.
“When things are difficult, that’s when people should be more generous. We’re all in this together.”
George Azih’s brother, Emmanuel Azih, is a double major in electrical engineering and computer science and engineering. Emmanuel was very helpful in getting George to familiarize himself with the field of technology. George’s first entrepreneurial venture began with a firm formed by Emmanuel. At the time, George Azih was initially a business accountant who disliked technology. However, he understood that successful start-up firms embrace technology. As a result, he sought help from Emmanuel. Emmanuel’s new firm dispelled George’s phobia of technology and taught him that someone could develop any software provided they understood the task assigned to them.
The invention of LeaseQuery occurred during the 2008 financial crisis. The founder of LeaseQuery, George Azih, was compelled to work as an accountant for a Fortune 500 firm due to the financial crisis. When the firm was audited, it was determined that there was an issue with lease accounting. Azih discovered that businesses needed software that could help them with lease accounting. As a result, he utilized the knowledge he gained from his accounting course and developed such software in March 2010.
Since its incorporation in September 2011, Azih said LeaseQuery had grown to have more than 1,000 clients. The firm got its first customer check-in in January 2014. A chain of restaurants was one of LeaseQuery’s initial customers. Given how many restaurants lease space, Azih anticipated that other eateries would be interested in the software he developed to help businesses with lease accounting. Azih and his team later realized that lease accounting wasn’t merely a real estate issue at that point.
According to CEO George Azih, accounting software firm LeaseQuery has hired roughly 100 new employees this year, increasing its total full-time headcount to over 350. He also said there are plans to add 50 employees by the end of the year.
Through its CPA-approved lease accounting software, LeaseQuery assists more than 10,000 accountants and other financial professionals in addressing lease accounting problems. It is the first accounting software designed specifically for lease accounting issues. LeaseQuery makes it easier for businesses across all industries to comply with regulatory changes by offering specialist consulting services.
Azih attributes LeaseQuery’s driving forces to his employees, who work tirelessly to ensure all customers feel welcome. He believes that happy employees lead to satisfied customers. According to Azih, LeaseQuery is constantly evolving with an eye for its employees’ and customers’ best welfare. They are not afraid of change but embrace it, ensuring they are prepared for any future scenario.
LeaseQuery and its founding CEO have achieved numerous accolades since its inception. The SIIA recognized LeaseQuery as one of 46 winners in 45 business technology categories, including seven leadership categories. The Best Places to Work award is the latest in a long line of achievements for LeaseQuery. Additionally, because of its enormous popularity, LeaseQuery appeared top of the Bulldog 100 list and is recognized as the fastest-growing business owned or controlled by an alumnus of UGA.
Other notable awards for LeaseQuery this year include the CODiE Award for Best FinTech Solution, inclusion in the Inc. 5000 and Georgia Fast 40, and multiple top G2 Crowd rankings. These honors highlight LeaseQuery’s business principles, which include responsibility, customer dedication, empathy, integrity, enthusiasm, a sense of urgency, and collaboration.
With over 10,000 accountants utilizing the LeaseQuery software throughout the USA, the company is on course to double in growth this year. With digitalization, the marketplace has shifted dramatically, with more businesses seeking affordable leasing options. LeaseQuery is evolving with technology to stay on top of its industry.
Azih’s entrepreneurial story is inspiring, but there’s more to it. He ventured into a space he once found too challenging and succeeded tremendously, becoming one of the most successful and well-known entrepreneurs in Atlanta.
George Azih is part of our Black Founders50 Series. Download the complete 2023 BBVA Founders50 list here.