Nakisa Lease Administration is a lease management and accounting solution designed to accelerate compliance with IFRS 16 and ASC 842 by automating, centralizing, and simplifying lease accounting operations.
Is there a limit to the number of users?
There’s no limit on the number of users. However, number of users is a pricing factor, so keep that in mind!
What type of training services are offered?
Administrator and train-the-trainer programs are available through remote and onsite offerings. These programs are designed to accelerate user adoption and get you independent on day-to-day operations.
What types of leases does the solution handle?
The solution is designed to meet the needs of complex lease portfolios and can handle all operating and capital leases for lessees.
Technology & Cloud
What types of ERPs can you integrate with?
Nakisa Lease Administration is a designed to leverage data from your existing ERP. Native integration and 3rd party system integration is available for a variety of ERP systems.
Does the solution have to be connected to an ERP?
No, Nakisa Lease Administration can be deployed as a standalone solution to fill the white-space left by your existing finance and accounting systems.
Is the solution scalable? Is there a limit to the number or types of agreements?
Yes, its scalable and there’s no limit! Our customer’s range from mid-size to enterprise and require full scalability to deal with their global lease portfolios - many with well over 250,000 active agreements.
What measures have you taken to ensure compliance with the new standards?
Designed with market-driven feedback, Nakisa Lease Administration is the result of close collaboration with our co-innovation customers and has been reviewed and validated by more than one of the “Big-4” accounting firms and other independant firms.
What standards are supported?
The solution was built from the ground up to support the new lease accounting standards: IFRS 16, ASC 842, and GASB 87.
Can you support determination or classification under the new standards?
Yes, the solution includes functionality to assist in the classification of contracts under the new standards and will guide users towards an assessment with final determination based on each customer's corporate accounting policies.
How do you support compliance with the comparative reporting requirements of the new standard?
The solution supports the comparative reporting requirements for transition accounting purposes. This can be achieved through the set up of multiple accounting standards and via standalone mode.
Can you leverage leases or contracts maintained in spreadsheets?
Absolutely, many of our customers are migrating from spreadsheet-based solutions. We can accept virtually any flat-file and upload most mandatory fields automatically.
What types of reporting and analytics are supported?
The solution provides out of the box disclosure reporting capabilities and also includes additional reports such as dashboards for internal decision making and analysis, and transaction reports for reconciliation purposes. Additional capabilities are supported through integration with 3rd party BI tool.
Does your solution support lease amortization, retirement, and revaluation?
Yes, and available out of the box with no configuration required.
What types of audit reports are available?
Audit reports are available out of the box and include a full change log and audit trail which captures each time-stamped event with user ID, comments, and other relevant details. This information is always available and always remains linked to your contracts.
What data elements are captured in the solution and are these elements customizable?
The solution can capture all data elements to manage, assess and perform the appropriate accounting for master lease agreements as well as addendums, schedules, and contracts. Data elements are easily configurable to support each individual customer's business processes.
How are middle of the term changes to a lease recorded and documented?
The solution is designed to handle all lease-life events including renewals, terminations, re-assessment and casualties in the appropriate accounting period.
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