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Bramasol Leasing Administration Team

Recent Posts

Kick-off Meeting for New SAP Leasing User Group on December 5, 2017

Posted by Bramasol Leasing Administration Team on Mon, Nov 27, 2017 @ 05:07 PM

LeaseAdministration-HotTip.jpgWe are excited to announce the formation of a new SAP Leasing User Group and pleased to invite you to the first online meeting:
December 5, 2107 at 9 AM PST - 12 PM EST.

The purpose of the Leasing User Group is to bring together SAP, customers and partners in a community to share information on the latest features, roadmap and updates on the SAP Lease Administration by Nakisa (Lease Administration) and SAP Real Estate Management (ReFX) solutions.  

You will hear from the SAP product leaders, Pete Graham and Tom Andersen, as well as, Nakisa and others.   Product experts will be on hand to answer your questions live.

Click Here to Register to Attend the Leasing User Group Kickoff Meeting

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Topics: leasing, Leasing-Hot-Tips

Why Lease Admin Software Must Integrate with Your ERP System

Posted by Bramasol Leasing Administration Team on Mon, Oct 30, 2017 @ 06:16 AM

LeaseAdministration-HotTip.jpgAs companies look ahead to achieving compliance with new lease accounting standards, ASC 842 and IFRS 16, this implementation process also provides an excellent opportunity to significantly improve overall efficiency and effectiveness of enterprise-wide lease administration methodologies.

One of the key opportunity areas is integration between lease administration software and core ERP systems.

Native integration with your existing ERP can provide key benefits, including:

  • Two-way data flows between core ERP system and Nakisa or REFX system
  • Asset accounting, fixed asset, materials and payments flow between ERP system to SLAN and REFX
  • Less customization with minimal maintenance requirement
  • Complete visibility of your leases in the ERP system for easy tracking and traceability 
  • Disclosure reporting for an end-to-end system

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SAP Lease Administration by Nakisa is a purpose built end-to-end lease accounting and administration solution that provides access to company-wide lease data, with the visibility and traceability needed to support and comply with the new regulatory standards.

The SAP Real Estate Management solution is a fully integrated sub component of SAP Finance that
provides a simplified approach to the leasing solution landscape by elimination of complex financial
interfaces, reduction in the number application and real time valuation of finance leases.

Seamless coordination between Lease Administration and Asset Accounting is critical for proper
classification and valuation. By integrating seamlessly with core ERP  platforms, both Lease Administration by Nakisa and, SAP Real Estate Management eliminate any problems with operational silos between these key functions, thereby improving accuracy, auditability and overall administration efficiency. 

As a partner of both SAP and Nakisa, we provide a holistic view to the impact the new Leasing standard will have on your organization. Our methodology and approach helps ensure that you can meet the upcoming changes to the standards. Bramasol works with you to evaluate the system changes needed under the new regulations, determine how significant they will be going forward, and lay out a path toward implementation with an emphasis on the impact to the SAP system. 

For more information on Bramasol's lease accounting services, visit https://www.bramasol.com/solutions/leasing/ 

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Topics: Leasing-Hot-Tips

ASC 842 and IFRS 16 Lease Accounting is Different for Real Estate vs. Equipment

Posted by Bramasol Leasing Administration Team on Mon, Oct 9, 2017 @ 06:33 AM

LeaseAdministration-HotTip.jpgIn 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019. Both IFRS 16 and ASC 842 are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting.

These changes will impact virtually all companies, whether lessors or lessees. Regardless of your company's size or industry, under the new standards your balance sheet will be different. 

When putting together your compliance plans for ASC 842 and IFRS 16, it is important to understand that solutions for real estate leases vs. equipment leases require very different features and capabilities.

Real estate leases tend to include specific issues such as tenant improvements, utilities, triple-net expenses, sub-leasing contracts, space utilization tracking, taxes, etc. that are not applicable for equipment leases.

On the other hand, equipment leases have a myriad of potential factors that need to be addressed by lease accounting solutions including, service contracts, maintenance schedules, trade-in options, utilization tracking, re-sale value, etc.

Although the compliance requirements specified in the new standards apply to both real estate and equipment leases, the processes for managing and accounting for these leases need purpose-built solutions.  Some people compare it to choosing the correct bicycle for your planned route.  You wouldn't attempt to navigate a rough mountain trail in a road bike any more than you'd choose a mountain bike to compete in a road race.  Matching the solution to your needs is the best way to achieve success.

That's one reason that, at Bramasol, we have developed deep expertise for implementing and supporting  two purpose-built, best-of-breed, feature-rich solutions: SAP Flexible Real Estate Management (RE-FX) and SAP Lease Administration by Nakisa.  As part of our overall lease administration and accounting initiatives, we have also developed detailed processes for compliance and disclosure reporting for ASC 842 and IFRS 16.

Click here to learn more about Bramasol's Lease Administration solutions and services.

 

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Topics: leasing, Leasing-Hot-Tips

New eBook: Lease Admin Solutions Need Scalability, Enterprise Performance and Native Integration

Posted by Bramasol Leasing Administration Team on Tue, Oct 3, 2017 @ 10:45 AM

In 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019. Both IFRS 16 and ASC 842 are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting.  These changes will impact virtually all companies, whether lessors or lessees.

In addition to presenting a new set of challenges that need to be addressed in the near term, the changes in lease accounting also offer an excellent opportunity for companies to make major improvements in their end-to-end lease management practices.

All companies, whether lessors, lessees or both, need to leverage the process of changing their lease management methodologies. This will allow them to gain better visibility of their lease portfolios, streamline the process of lease management and reduce overall costs.

As long-term innovation partners with SAP, Bramasol and Nakisa have brought together a comprehensive set of solutions and expertise to help companies assess and prepare for the new FASB and IASB leasing standards. These solutions unify disparate leasing data and provide enhanced visibility for companies to make informed decisions on their lease portfolios, assets and liabilities while conforming with the new requirements.

This new eBook provides a closer look at the key issues of Scalability, Enterprise Performance and Native Integration that are critical factors for success in implementation of new lease administration processes that maximize compliance, efficiency and extensibility.

Click here to download the eBook on Lease Admin Scalability, Enterprise Performance and Native Integration.

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Topics: leasing

Webinar Video: SAP Real Estate Management (RE-FX)

Posted by Bramasol Leasing Administration Team on Tue, Sep 12, 2017 @ 01:52 PM

The video of the latest webinar in our series on financial management topics is now available for viewing.

Recorded on September 12, 2017, "Save Time and Money with SAP RE-FX - the latest release" covers key functionality now available in SAP Real Estate Management.

SAP Real Estate Management is a full-featured, integrated solution for managing real estate. The solution supports all phases of the life cycle of real estate assets, including the acquisition or disposal of real estate, management of the real estate portfolio itself, property and technical management, and support processes like management accounting and reporting.  

Click here to access this video and videos from other previous webinars.

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Topics: leasing

Webinar Video on SAP Lease Administration by Nakisa

Posted by Bramasol Leasing Administration Team on Fri, Sep 8, 2017 @ 08:19 AM

The video of the latest issue in our highly successful webinar series for finance professionals is now available for viewing online.

Recorded August 29, 2017, this webinar focused on "What's New with Lease Administration by Nakisa"

Nakisa has announced the release of version 4.0 of Lease Administration by Nakisa, which is a SAP Solution Extension, co-developed with SAP and also sold by SAP as SAP Lease Administration by Nakisa and is the only equipment leasing solution sold and supported by SAP for lease accounting standards.

The new features in 4.0 add powerful accounting functionality essential for enabling compliance, including lease determination support and lease event management. Lease Administration by Nakisa’s expanded capabilities will also allow companies to leverage data in non-SAP systems.

This new version 4.0 can now make use of parallel accounting in SAP, with enhanced central governance and segregation of duties allowing for greater security and control over the process.

“We have hit a critical point on our path towards compliance where any business not making concrete actions and steps is at considerable risk. With version 4.0, customers can accelerate their go-lives, minimize effort and reduce risk by leveraging native connectivity with SAP ERP Financials.” said Romeo De Leon, Global Manager of Finance Line of Business at Nakisa.

This video provides an update on new functionality in Lease Administration by Nakisa and details what companies need to be doing now in order to be ready for compliance with the new standards.

Click here to access this and other videos from the Bramasol webinar series.

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Topics: financial transformation, S/4 HANA Cloud

New eBook: End-to-End Management of the Lease Lifecycle

Posted by Bramasol Leasing Administration Team on Tue, Jun 20, 2017 @ 11:50 AM

It is not possible to effectively manage enterprise-wide leasing activities without understanding the context of the lease lifecycle. Without this context, leasing too easily can degenerate into a disjointed series of ad hoc decision points with a high risk of key information falling through the cracks.

For example, in many large organizations, the responsibility for initiating leases may be distributed to regional or local facilities but, without comprehensive control over the full lifecycle, subsequent key events can get overlooked. As a result, companies may unknowingly be paying a large price on evergreen leases that should have been reviewed and/or terminated but simply continue on because of the open-loop nature of such disjointed administration practices.

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Virtually every lease shares a common set of steps in the lifecycle, which can be defined as follows:

  • Lease Definition – the “why” and “what” of the proposed lease (equipment specs, ROI, etc.)
  • Set-up – the contract details, activation, term, payment processes, etc.
  • Onboarding – the receipt, installation, acceptance and operational activation of the asset
  • Operation – the payments, accruals, management, servicing, maintenance, etc. of the asset
  • Termination – formal close-out of the contract at lease-end or another terminating event

Unless these steps are incorporated within a comprehensive automated lease administration process, your company is at significant risk of losing control over your lease portfolio, which will inevitably result in higher costs, wasted time and lack of visibility into the assets on your books. In addition, without such a process your company will likely be at risk of non-compliance with the new FASB and ISAB lease accounting standards (ASC 842 and IFRS 16) that go into effect in 2019.

As long-term innovation partners with SAP, Bramasol and Nakisa have brought together a comprehensive set of solutions and expertise to help companies assess and prepare for the new FASB and IASB leasing standards. These solutions unify disparate leasing data and provide enhanced visibility for companies to make informed decisions on their lease portfolios, assets and liabilities while conforming with the new requirements.

The latest eBook from Bramasol and Nakisa provides a step-by-step look at the key elements in the lifecycle of a lease and details how a comprehensive end-to-end administration approach can improve efficiency, save money, reduce risk and assure compliance with new accounting standards.

Click Here to Download the eBook: End-to-End Management of the Lease Lifecycle

 

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Topics: leasing

SAP-Centric Financials - Let's Talk About Leasing

Posted by Bramasol Leasing Administration Team on Fri, Feb 17, 2017 @ 07:45 AM

Big Changes Are Coming for Lease Accounting Standards

Join us at SAP-Centric Financials, Feb 21-22 in Dallas, TX, Booth #13 to learn more about these changes and to discover what you can do to prepare for them.

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In early 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new requirements for lease accounting. Both IFRS 16 and ASC 842 are the result of the IASB and FASB efforts to meet the objective of improved transparency, comparability and financial reporting.

In addition to presenting a new set of challenges that need to be addressed by the end of this year, the changes in lease accounting also offer an excellent opportunity for companies to make major improvements in their end-to-end lease management practices.

All companies, whether lessors, lessees or both, need to leverage the process of changing their lease management methodologies. This will enable them to gain better visibility of their lease portfolios, streamline the process of lease management and reduce overall costs.

The opportunities for significant improvements span all lease categories, including:

  • Real Estate Leases
  • Equipment Operating Leases
  • Software Leases

As an innovation partner with both SAP and Nakisa, Bramasol brings together a  range of solutions and  expertise to help you assess and implement the FASB and IASB leasing standards. These solutions unify disparate leasing data and provide a clear view to make informed decisions on leasing liabilities while conforming with the new requirements.

At SAP-Centric Financials, Bramasol and Nakisa will be providing an update on the latest SAP Leasing solutions aimed at helping you get ready for IFRS 15, 16 and ASC 842 while also optimizing company-wide lease management.

Click here for an overview of Lease Administration by Nakisa.

 

 

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Topics: leasing

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