Nakisa Updates Its Lease Accounting Solution To Better Enable Compliance With IFRS 16 And ASC 842 Leases Standards.

 

Nakisa launches a new version of its end-to-end lease accounting solution that enables lease accounting compliance and accelerates lease administration processes.

 

Montreal – Canada Nakisa announced that version 3.1 of Lease Administration by Nakisa has been released. Lease Administration by Nakisa is an SAP Solution Extension, co-developed with SAP and sold by SAP as SAP Lease Administration by Nakisa and is the only compliant equipment leasing solution sold and supported by SAP. SAP Lease Administration by Nakisa is an accounting, compliance and reporting solution that combines holistic contract management, a powerful lease accounting engine, and native integration to SAP ERP. The 3.1 release passed SAP’s stringent testing and validation process and is available today.


SAP Lease Administration by Nakisa version 3.1 includes the following new capabilities: New native integration with SAP, perform lease accounting valuations for equipment for FAS 13, IAS 17, ASC 842, and IFRS 16, new analytic dashboards, change tracking and new disclosure reports.


“Lessees are some of the most affected by the new lease regulations, however they also stand to gain the most from improved lease management processes.” said Thack Brown, General Manager and Global Head of Line of Business Finance at SAP. “SAP Lease Administration by Nakisa v3.1 supports this by combining lease abstraction and lease accounting capabilities to allow customers to capture lease data and immediately understand the impact of the accounting valuations for both the current and new leasing standards.”


SAP Lease Administration by Nakisa version 3.1 includes the following new capabilities: New native integration with SAP, perform lease accounting valuations for equipment for FAS 13, IAS 17, ASC 842, and IFRS 16, new analytic dashboards, change tracking and new disclosure reports.


“With the new leases standards for IFRS 16 and ASC 842 fast approaching, we know businesses are looking for ways to accelerate implementation to meet compliance deadlines. With 3.1 customers can significantly reduce implementation time, effort and risk by leveraging new native connectivity with SAP ERP Financials.” said Romeo De Leon, Global Manager of Finance Line of Business at Nakisa

SAP Lease Administration is available on-premise and on the cloud, including SAP HANA Cloud Platform.


About Nakisa

A global leader in enterprise business solutions for Lease Administration, and Organizational Transformation, Nakisa delivers innovative, forward-thinking and robust human resource and financial management solutions that advance customers’ business strategies. Nakisa solutions are available on premise and in the cloud. Working with a global network of partners, Nakisa serves 800+ enterprise customers and over 4 million subscribers in 24 industries. A member of the SAP PartnerEdge® program for Application Development, Nakisa is one of the few SAP partners offering solution extensions for SAP software, beginning in 2007. Nakisa is proud to work with some of the world’s most renowned brands. For more info, visit: www.nakisa.com


###


SAP, SAP HANA and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. See http://go.sap.com/corporate/en/legal/copyright.html for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.