Streamline your lessee accounting using our SAAS-based IFRS16 module
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.
- 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