Simplifying contracts management and follow up on the IFRS16 calculations
The main issue faced by the group was the large number of contracts spread over many different sites and entities. Therefore, Seqens needed a tool able to centralize those contracts, to harmonize their treatment and to calculate the accounting impacts. Until then, the contracts were reviewed in a very heterogeneous way, as each entity had its own set of procedures. The shift to a dedicated tool was an opportunity for the company to review its processes and its lease contracts management.
imported and managed in the application
" The app does not only provide financial data and analysis, but also business metrics that allow us to have a better negotiating power. "
" We are already used to Viareport’s environment as we regularly use Conso & Report. This simplified mapping and the user friendliness of the app convinced us to choose Lease. "
" We can see on which entity the impacts are the more significant, and we can have precise details on the fixed assets taken into account. Moreover, this kind of information gives the buyer a better understanding of the group’s overall situation per entity. By centralizing all our contracts in a single app, we can easily see the amount of transactions that we have with the lessor. Therefore as lessees, we gain a better negotiating power. In other words, the app does not only provide financial data and analysis, but also business metrics, insights and savings."
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.