Toyota chose Lease Administration by Nakisa to gain better visibility into their large lease portfolio and support their compliance initiatives. Toyota’s core requirement was compliance with new lease accounting standards, with additional considerations for compatibility and integration with their existing SAP ERP environment.
In order to be compliant by the effective dates of the new leasing standards and to reduce the risk of penalties and undue payments, Toyota required a lease accounting solution that was built from the ground up for compliance with IFRS 16 and ASC 842. Lease Administration by Nakisa’s ability to meet or exceed the requirements of one of the world’s largest tire companies made it the right choice for Toyota.
About Toyota Motor North America
Toyota Motor North America, Inc. operates as a holding company of sales and manufacturing subsidiaries of Toyota Motor Corp. in the United States. Its services include government and regulatory affairs, energy, economic research, philanthropy, corporate advertising and corporate communications. The company was founded in 2000 and is headquartered in Plano, Texas with an additional office in South Washington, District Of Columbia. Toyota Motor North America, Inc. operates as a subsidiary of Toyota Motor Corporation.
A global leader in enterprise business solutions for Organization Transformation and Accounting and Compliance, Nakisa delivers innovative, forward-thinking and robust human resource and financial management solutions that advance your business strategies.
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.