Name: Nakisa Lease Administration
Rating: 3.6 (3 reviews)
Author: Nakisa

Help Desk

Web and Video Conferencing

Customer Support

Bug  Tracking

Push Notifications

Software Repositories

WebOps

Development

Business Intelligence (BI)

Collaboration

Quality Management

Supply Chain Management

Workspace Planning

Enterprise

Accounting

Digital Banking

Financial Planning and Analysis (FP&A)

Payment Orchestration

Revenue Management

Finance and Accounting

Applicant Tracking

Contractor Management

Corporate Learning Management

HR Management

Job Board

Leave Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

Application Server

Archiving

Block Storage

Browser

Cloud Storage

Computerized Maintenance Management Systems (CMMS)

Container Security

Data Center Backup

Data Center Infrastructure Management

Data Masking

Data Virtualization

Deception Technology

Fraud Detection

IT Operations Analytics

Infrastructure-as-a-Service

Integration Platform as a Service (iPaaS)

Internet Security

Network Performance Monitoring

Process Mining

Security Awareness Training

Web Access Management

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Brand Intelligence

Content Management

Customer Advocacy

Customer Success

Email Marketing

Marketing Automation

Native Advertising

Social Media Management

Survey & Forms Building

Usability Testing

Web Analytics

Marketing

Project Management

Professional Services

Customer Relationship Management (CRM)

Sales Dialer

Sales

Assisted Living

Construction Management

Insurance Policy Administration Systems

Investment Portfolio Management

Membership Management

PCB Design

Pharmacy

Public Sector Software

Text Analysis

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### Contract Management
Users generally praise Nakisa Lease Administration for its user-friendly interface and efficient handling of lease contracts, allowing for easy input and management of lease information. However, some users have encountered challenges during system upgrades, leading to issues with contract data migration. Despite these hurdles, the software's ability to provide necessary information for controlling asset values and liabilities is acknowledged positively. Additionally, integration with SAP ECC has presented some compatibility issues, particularly with old Asset Accounting systems. While there are limitations and bugs reported by some users, the overall sentiment leans towards appreciation for Nakisa Lease Administration's contract management capabilities.

### Asset Management
Users consistently praise Nakisa Lease Administration for its ability to efficiently control assets and liabilities, making it a valuable tool for lease management and accounting. However, some users have encountered challenges during system upgrades, particularly when transitioning from on-premises versions to the cloud. Issues such as data migration discrepancies and compatibility with SAP ECC's classic Asset Accounting have been reported, impacting the accuracy of asset values in certain scenarios. Despite these challenges, Nakisa Lease Administration's asset management capabilities are generally regarded positively by users, with the software offering user-friendly features for managing lease contracts and processing accounting entries effectively.

### System Configuration and Customization
Users appreciate the ease with which they can configure the system and customize it to suit their needs. However, there are some limitations noted, particularly in accessing certain custom configurable options that require support from technical consultants. Despite this drawback, the system's integration with SAP and the ability to create new configuration data for different companies are highlighted as strong points. Additionally, users find it simple to create new users with specific profiles, enhancing the overall user experience.

### Lease Accounting Standards
Users generally agree that Nakisa Lease Administration effectively meets the requirements of lease accounting standards, particularly in the context of ASC 842 and IFRS 16. While some initial challenges were noted during the transition to the cloud and integration with SAP ECC, overall, the software is perceived as a reliable tool for managing lease contracts and ensuring compliance with the new accounting standards. Despite some minor hiccups and ongoing improvements, Nakisa Lease Administration remains a valuable asset in facilitating accurate lease accounting processes for businesses with diverse lease portfolios.

### Reporting and Compliance
Users generally praise Nakisa Lease Administration for its robust reporting and compliance capabilities. While some users have highlighted the software's ease of use in inputting lease contracts and generating necessary entries for financial reporting, others have expressed concerns about the software's slow maturity curve, limited reporting functionalities, and challenges in handling a high volume of leases with various complexities. Despite some mixed opinions, many users appreciate the system's ability to centralize lease information and provide visibility to internal stakeholders. Additionally, the software's integration with tools like Lavastorm and Microsoft Power BI has allowed for the creation of custom reports, enhancing the overall reporting experience for users.

Nakisa Lease Administration provides a cloud-based solution for storing leasing contracts and helps companies comply with reporting requirements towards investors in accordance with the IFRS16 standard. The software simplifies the process of getting the correct accounting postings and enables users to compile all global leases, providing the necessary entries to report leased assets globally. Many users have found benefits in using the software, especially when it comes to achieving compliance with IFRS16.

The monthly user group meeting provides an opportunity for users to share experiences and ideas with Nakisa and other users, which helps to capture improvements and problems. Additionally, users are able to interact with Nakisa's solution engineers and product team to submit enhancement requests and improvement ideas, which are then taken into account for new releases. While there have been reports of hiccups due to being new and some standard functionalities having bugs, the company is working hard to improve the system in newer releases. Overall, Nakisa Lease Administration has been instrumental in helping many companies comply with IFRS16 requirements while providing an easy-to-use interface for managing leasing contracts.

Easy to use: Reviewers have found Nakisa Lease Administration easy to use. The system offers an intuitive UI that fits into the process and organizational design, making it simple for end-users to operate. This has been mentioned by multiple reviewers.

Efficient customer support: Multiple reviewers have appreciated the fact that Nakisa hosts the software, which allows support personnel or the product team to quickly check logs and try out solutions in QA, providing quick and efficient customer support.

Integration with SAP ERP: Several users have noted that Nakisa Lease Administration is integrated with SAP ERP and offers a single sign-on, which has proven beneficial. This feature makes it easy for SAP customers at the enterprise level to manage all lease assets under one umbrella while also being compliant with ASC 842.

Challenging Upgrade Process: Some users have reported that upgrading from on-prem versions to the cloud has been challenging, resulting in issues with contracts. 

Compatibility Issues with SAP ECC's Old Asset Accounting: Several reviewers have noted limitations when using Nakisa Lease Administration with old asset accounting systems, leading to compatibility issues between the two systems.

Limited Reporting Functionalities: Many users have found the reporting functionalities of Nakisa Lease Administration to be limited. This results in a lack of visibility into leasing contracts and can make it challenging for businesses to track their leases effectively.

Nakisa Lease Administration is a cloud-based enterprise platform that provides businesses across various industries, such as retail and transportation, with lease accounting and management operations. With built-in compliance capabilities for ASC 842, IFRS 16, and GASB 87, the software enables users to track the complete lifecycle of any asset type: real estate properties, fleets or IT equipment are among them. 

The solution offers a multi-level contract structure that helps manage contracts and lease structures effectively while providing users with access to visual dashboards that provide an overview of their entire lease portfolio via snapshot views in one place. Automated reports can be generated for reconciliation purposes.
Nakisa Lease Administration provides integration opportunities with third-party applications like SAP which allows live updates to be posted automatically. The solution also facilitates remeasurement processes such as asset casualties through quantitative note disclosures with ease on its user-friendly interface.

Nakisa offers lease accounting software for IFRS 16, ASC 842, and GASB 87 compliance, helping users to achieve accuracy and completeness of finance data. Nakisa Lease Administration aims to provide an scalable framework for heavy lease portfolios with diverse assets, complex terms and conditions, and sustained activity.

Oracle Fusion Cloud Enterprise Performance Management (EPM) is a solution that helps users model and plan across finance, HR, supply chain, and sales, streamline the financial close process. Oracle Cloud Enterprise Performance Management (EPM) Platform is a framework of the technical and functional components shared among Cloud EPM processes.

EPM Standard

EPM Enterprise

SAP S/4HANA Cloud

Nakisa Lease Administration

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The Buyer’s Guide to Accounting Software

Software for tracking revenues and expenses and forecasting future revenue.

Nakisa

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

Accounts payable

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

Accounts receivable

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

Cash management

The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.

Bank reconciliation

The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.

Expense management

The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.

Time tracking

The software can track billable and non-billable employee time by project.

Fixed asset management

This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.

Multi-currency support

The software supports transactions across multiple currencies.

Multi-division support

The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.

Regulations compliance

The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.

Electronic tax filing

The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.

Self-service portal

The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

Global Financial Support

Account using multiple ledgers, multiple currencies, and multiple entities

Primary and Secondary Ledgers

Record and report across multiple currencies and accounting standards with primary and secondary ledgers

Intercompany Accounting

Automatically balance and reconcile GL for intercompany transactions

Localizations

Meet reporting requirements with country-specific localizations

Journals and Reconciliations

Automate and synchronize ledgers and processes

Enterprise Accounting

Create accounting for disconnected ERP and non-accounting source systems

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Centralized Rules Framework

Integrate disparate ERP and transactional systems into single ERP instance

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Manufacturing module

The software helps track and manage raw materials, work-in-progress items, and finished goods.

Order Management

The ability to process orders, and track them from quote to cash.

Pricing

Users can set up complex and unique pricing requirements.

Order entry

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

Credit card processing

The software facilitates credit card processing.

Cost of goods sold

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.

Order Orchestration

Define and execute order fulfillment processes for products as well as services on the same order.

End-to-end order visibility

Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics

Order exception Resolution

Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

Pay calculation

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit files

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Salary revision and increment management

Salary revision is the ability to modify individual employee pay.

Reimbursement management

Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

Nakisa Lease Administration

Overview

What is Nakisa Lease Administration?