Nakisa Lease Administration Release 1 2022: Oracle EBS integration, supercharged data management, off balance sheet lease accounting and more insightful reporting
As our clients’ global lease portfolio management needs become more nuanced, Nakisa Lease Administration product experts continue to unveil new features. The latest version of our lease administration system can now integrate with Oracle E-Business Suite (EBS), handle low value leases (a local GAAP requirement) and has been equipped with additional process automations.
Handling off-balance sheet leases for local GAAP
Low value lease calculations are equivalent to the previous standard (IAS 17)’s operating lease calculations and some regions are still required to report on these types of leases. For organizations looking for a way to handle this local GAAP requirement, through a special configuration of a “local GAAP” reporting standard in the back end, system administrators can now enable this feature for end-users.
Integration between Nakisa Lease Administration and Oracle E-Business Suite (EBS) and consolidation support
Oracle E-Business Suite (EBS) is a group of applications that automates Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) and Supply Chain Management (SCM), and is now easily integrated with Nakisa Lease Administration. Through switches in the back end, power users can configure the flow codes and ledger IDs - for each transaction mapped to a specific general ledger (GL) and document type - to push data into Oracle EBS. Meanwhile end-users will also benefit from a new EBS Transaction Report for each compliance standard (IFRS 16, ASC 842 and “local GAAP” described above).
Data management improvements: mass changes and scheduled jobs made easier
When modifying leases in bulk, users will now be able to export data by drilling down from master agreements to contracts and activation groups for multiple company codes. For faster search results, users can also filter by IDs when performing bulk changes. Further expediting the full modification process, users will also be able to mass import data into 20 staging areas at one time. Users will enjoy faster processing of any lease modifications performed in the system.
To facilitate greater automation for users posting to their SAP ERPs, the SAP Posting Bot has a new job in its arsenal: “auto updating line-item status” that is scheduled to run every hour by default. This automated job will update the Postings view in the financial schedules. Meanwhile, batch job postings have been powered up with the speed of less than a second per posting1 to the ERP. With this enhanced performance, our enterprise-grade customers will be able to complete their month-end processes in a matter of hours.
More reporting dimensions for deeper drill down into financial health
With a series of extra features in Nakisa Lease Administration’s reports and dashboards, users can get a deeper understanding of their lease portfolio:
- Decision-makers will now be able to extract Compliance and Additional Reports with two new filters based on Vendor and Lease Type
- In Disclosure Reports, users will also benefit from viewing line items against the following columns: “Vendor,” “Lease Type,” “Useful Life (in months)”
- All relevant reports have also been boosted with the displays of the discount rates applied – Contract Rate and/or Incremental Borrowing Rate (IBR)
- More columns – “Network,” “Room,” “Location,” “Evaluation Group,” “Responsible Cost Center,” and “Plant” – have been added to Consolidated Transaction Reports
- The two disclosure reports - Weighted Average Discount Rate and Weighted Average Lease Term – have also been given a refreshed look
Miscellaneous administrative controls
For greater security controls, system administrators will now be able to control the data view contained in lease components and activation groups for certain users. Meanwhile, the maximum number of “RFC Traces” displayed on the “RFC Traces” page has been upped to 1,000 entries – that can be reconfigured in the back end.