IFRS 16 standard compliance
With over 100 lease contracts, BDC must comply with IFRS 16 requirements and was obliged to do so from the start of its financial year in April 2019. After a comparative analysis of the different applications available in the market, the bank decided to go with Viareport’s solution, Lease.
● Easy-to-use and intuitive
● Possibility of monitoring modifications and terms of leases and identifying the precise effect of standards
● Generation of accounting entries
● Controls on levels of access and validations
and 12 Lease users
" When we were looking for a solution, we met several software publishers. We discovered that there were several categories of products, some of which were still in development, while others involved tools that were very complicated with advanced functionalities in lease management. "
" We needed a tool that would meet our compliance requirements and that would also be easy to use. We realized that Viareport was the software publisher that could best meet our expectations, with Lease, its application designed specifically to comply with IFRS 16. The deployment project was completed simply and without any complications, within the projected time frame. Viareport was responsive to our needs and to the improvements we required. "
" The training session was very structured and presented a good overview of the functionalities and possibilities of Lease. After our training, we did not encounter any problems using the application. Fortunately, the distance was not a problem at all for the BDC as there were no adverse effects on the implementation of the solution, the distance training sessions or our day-to-day operations using Lease. On the contrary, we feel that Viareport consultants are extremely responsive. Our questions always receive an answer and there are no misunderstandings in our exchanges by phone or by email. Today, we are highly satisfied with the application. "
Brought to life through the viareport agile development process. LEASE is a cloud based application, easy to use and to roll out. It eases your workflow and your consolidation issues regarding the evolution of IFRS16 and IAS17standards.