As 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
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/