MONTREAL--(BUSINESS WIRE)--Nakisa announced the latest release of Nakisa Lease Administration, which helps global organizations comply with new lease accounting standards by automating, centralizing and simplifying lease accounting operations. The latest release offers key additions to the accounting and administration functionality, a brand-new reporting engine, a new API platform and suite of APIs, and enhancements to Nakisa’s cloud technology.
The all-in-one lease accounting solution provides insight into global lease portfolios to aid in decision making and support compliance. The announcement comes at a time when many organizations continue to face significant challenges in their adoption of the new lease accounting standards and promises an easier, more effective path forward.
Nakisa has streamlined this process up until this point and the changes to the solution will enable current and future customers be successful.
With over a decade of experience meeting the needs of the world’s largest organizations and proven integration tools for major ERP systems, the 5.0 release of Nakisa Lease Administration solidifies its position as one of the leading lease accounting solutions on the market today.
With the launch of Nakisa Lease Administration 5.0, Nakisa is introducing a new Financial Analysis Reporting Module which includes a series of reports and analytic capabilities to provide additional insight and tools for decision making. Examples of new capabilities provided within the reporting module include:
- Mini Financial Statements: Allows tracking of profit and loss for a given lease contract, total cash outflow and net asset.
- Activity Analysis Reports: Helps track and maintain what events and activities are taking place in the application for both a quantity and dollar amount.
- Dashboard Reporting Tool: Allows users to generate custom reports by slicing and dicing data stored within the application.
“For our customers, this is probably the most exciting component of this launch since it will allow them extract even more value from their data to drive smarter, faster business decisions,” said Babak Varjavandi, CEO, Nakisa. “But as a fan of technology and innovation, I’m personally most excited about our new API platform and the possibilities it opens up. This platform, and the suite of APIs it comes with, open the door for developers to build their own extensions and customize lease accounting processes.”
The latest release comes with new out-of-the-box features developed to provide further benefits to customers. Several new features support error handing, validation and control: mass posting reversals, posting control, audit trail for admin console and upload validation framework. A leasing scheduler has been included to automate batch management and help customers achieve efficiencies in their accounting processes.
With access to Nakisa’s global partner network and expertise with the world’s largest organizations, customers can now transform their global lease accounting operations and ensure compliance with IFRS 16 and ASC 842.
A global leader in enterprise business solutions for Organizational Design 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, 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.