Welcome to CREDO, Your Partner in Common Sense

23rd January 2020

Oudestraat 113

B-2630 Aartselaar

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Streamline your lessee accounting using our SAAS-based IFRS16 module

Try our robust IFRSX platform, scrutinized by the Big 4 and proven in actual IFRS reporting.

Gather your leasing contracts in a single tool and treat all contracts within the same asset class consistently.

Automate a time-consuming (semi-)manual reporting process and reduce operational risks.

Have the flexibility to deal with various accounting choices to be made in accordance with IFRS 16, such as renewal-, purchase-, termination options, variable lease payments, split lease vs non-lease components, contractual changes, etc.

Measurement of sublease contracts is covered as well.

Benefit from the governance/compliance support underlying all IFRSX components.

On-premise or Cloud-based.

Functional components

  • Generation of ROU depreciation and LL amortization tables and extra quantitative inputs needed for disclosures
  • Configuration level to set common parameters for groups of contracts (e.g. indexation)
  • Possibility to correct/overrule data inputs if needed
  • Sign-off: formal validation of results before final booking
  • Booking engine: standard output interface with event- and inventory messages

Optimal mix of proven and new technologies

  • Component-based/service-oriented architecture in Java
  • Cloud-technology allows easy deployment across groups
  • In-memory cache for optimal performance

Supporting technical components

  • Clearly documented standard data interfaces (XML)
  • Flexible workflow: process flow not hard coded into the solution
  • Rules engine for flexible discrete decisions
  • Secure access to the software
  • Audit trail: all manual modifications subject to functional audit trail
  • Logging of all events
  • Error manager