PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and equipment and related depreciable useful lives as of December 31, 2020 and 2019 are composed of the following:


	2020		2019
Furniture and equipment: 2-5 years	$	6,818	$	7,851
Software development costs	10,308		7,529
Software: 3-5 years	2,808		3,970
Leasehold improvements: shorter of the lease term or life of the improvement	1,658		1,221
Total property and equipment	21,592		20,571
Less accumulated depreciation and amortization	(13,311)		(12,704)
Property and equipment, net	$	8,281	$	7,867

We record the amortization of our finance leases as depreciation expense on our Consolidated Statements of Comprehensive Loss. Depreciation and amortization expenses relating to property and equipment were approximately $3,504 and $2,370 for 2020 and 2019, respectively.

We acquired software development costs from prior acquisitions and we continue to invest in software development. We are developing products which we intend to offer utilizing software as-a-service (“SaaS”). We follow the guidance of ASC 350-40, Intangibles- Goodwill and Other- Internal Use Software, for development costs related to these new products. Costs incurred in the planning stage are expensed as incurred while costs incurred in the application and infrastructure stage are capitalized, assuming such costs are deemed to be recoverable. Costs incurred in the operating stage are generally expensed as incurred except for significant upgrades and enhancements. Capitalized software costs are amortized over the software’s estimated useful life, which management has determined to be three years. During the years ended December 31, 2020 and 2019, we capitalized $2,780 and $2,756 of software development costs, respectively.