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Nakisa Lease Administration provides a cloud-based solution for storing leasing contracts and helps companies comply with reporting …
Overview
What is Nakisa Lease Administration?
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...
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What is Nakisa Lease Administration?
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,…
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Product Details
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- Tech Details
What is Nakisa Lease Administration?
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 Lease Administration Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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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.