Nakisa® Cooperates with SAP on Development and Deployment of Lease Administration Application on SAP HANA® Cloud Platform
First SAP® solution extension offering leveraging SAP HANA Cloud Platform to help customers prepare for upcoming lease accounting regulations
MONTREAL, Canada – July 07, 2015 Nakisa today announced that through cooperation with SAP SE (NYSE: SAP), it has developed and released its Lease Contract Administration by Nakisa® solution powered by SAP HANA® Cloud Platform, which SAP resells as a solution extension under the name SAP® Lease Administration application by Nakisa. Both versions of the solution offer customers a choice of deployment on premise or in the cloud, enabling them to prepare for the new lease accounting standards under consideration by the FASB and the IASB. These standards aim to bring more transparency to financial statements related to financial assets and financial liabilities associated with leasing activities.
“We are very excited about the new opportunities SAP HANA Cloud Platform brings for us and our customers,” said Babak Varjavandi, president and chief executive officer, Nakisa. “Developing on SAP HANA Cloud Platform has been an excellent experience, enabling us to build an innovative solution providing choice and flexibility to our customers. We are constantly working on integration with SAP’s latest innovations and will continue to deliver finance and human capital management solutions leveraging them.”
SAP HANA Cloud Platform is a platform-as-a-service providing unique in-memory database and business application services to quickly build, extend and integrate modern, mobile-first business apps. Leveraging this platform, both Lease Contract Administration by Nakisa and SAP Lease Adminstration provide optimized functionality to collect lease information to support the upcoming leasing regulations. Both versions of the solution will allow users to improve operational efficiency and reduce costs by helping ensure that payments are aligned with leased asset inventory. They will also provide global visibility into the lease portfolio to align asset supply with business demand.
Lease Contract Administration by Nakisa and SAP Lease Administration can also assist companies in preparing for the new revenue recognition standards. See the following Webinar for more information: New revenue recognition standards: What the rule changes mean for your business.“Nakisa is an agile, innovative partner,” said Prakash Darji, senior vice president and general manager, Platform as a Service, SAP. “Using SAP HANA Cloud Platform, Nakisa has developed a solution that will help customers address regulatory requirements while giving them the flexibility to run the solution in the cloud, on premise or in a hybrid environment.”
For more information on Lease Contract Administration by Nakisa and SAP Lease Administration, view the following Webinar: Upcoming changes in lease accounting standards: How technology can help with costs savings today and regulatory compliance tomorrow.
A global leader in enterprise business solutions for Human Capital Management (HCM) and Finance, Nakisa delivers innovative, forward-thinking and robust human resource and financial management solutions that advance your business strategies. Available on premise and in the cloud.
Working with a global network of partners and as one of the few Solution Extension (SolEx) partners of SAP® since 2007, Nakisa serves 800+ enterprise customers and over 4 million subscribers in 24 industries. Nakisa is proud to work with some of the world’s most renowned brands. For more info, visit: www.nakisa.com
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