The challenge

2019 sees the start of a whole new approach to lease accounting with the implementation of IFRS 16 - the new accounting standard requiring companies to bring leases on balance sheet. It’s great news for financial transparency, but a challenge to implement.

Companies have many data points when it comes to their lease portfolios, so when you consider the time it would take to process this amount of data in line with the complexities of IFRS 16, it’s easy to see why a manual process or simple spreadsheet solution wouldn’t be up to scratch.

That’s why we developed LeaseLight: a cloud based solution that allows you to collect and manage all of your lease portfolio data in one place. It keeps business disruption to a minimum and makes it easy for you to calculate the right figures for your reported accounts. For businesses with a smaller lease portfolio, it's the ideal light touch solution.

Benefits

Save time and money

LeaseLight is quicker and cheaper to implement than a manual process and more competitively priced than many other technology solutions.

Simplify year-end compliance

By managing your lease information and lease calculations all in one place, year-end procedures are made much easier.

Improve forecasting

By calculating the projected future impact of your lease portfolio on your income statement and balance sheet, LeaseLight enables better financial forecasting and planning.

Increase data governance

Multiple users from any geographical location can access the online lease management interface, and the tool provides a clear audit trail of any changes made.

Features

Cloud hosted

Multiple user access

Excel based outputs for simple ERP entry

Ability to interrogate down to lease level

Forecasting and planning functionality

Shadow reporting under IAS 17

Fully transparent calculation approach

Audit trail of lease modifications

How it works

Request a free live demo

Take the simple approach to IFRS 16 compliance

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