Nakisa Lease Accounting

The twice yearly releases with ever more functionality and improvements in the Saas (cloud) version. product has now matured for many years with a high speed of innovation, so I would say the features is definitely on the "Pro" side. The fact that Nakisa hosts it means that support personnel, or the product team in tricky cases, can get a first hand view of the problem and can easily check logs, and so on. Try out solutions in QA. I am not sure if I can comment on ease of use since I have used it for many years now. For key user/administrator: Ease of administration for the master data and batch jobs, and a wealth of mass update tools and reports.

It has been, let's say, quite a journey to upgrade between the different on-prem versions and then into the cloud. This meant that some contracts from the go-live had issues later on. It turned out e.g. that something was missed in migrations, due to things like additions in the data model through the early on-prem versions. The most impact was in SP4 created contracts (from initial load in 2019) when entering the Cloud. This is not a "Con" for someone choosing the software today, since they'll be starting on the cloud version and these issues won't be there.

If you have SAP ECC with classic (old) Asset Accounting there can also be some issues between the two systems. You'll have to consult your SAP AA expert to set up depreciation keys and so on to fit lease accounting correctly, since the case is often that Nakisa has the correct value in the schedules, but SAP Old AA won't quite be able to match it. Also with old SAP AA you'll (at least in the current release we're on, 2021 R2) miss out on the feature intercompany lease transfer for the companies connected to SAP ECC. These limitations will go away with time as companies move to SAP S/4.

It is a customized system for IFRS 16 compliance that provides users with reporting tools to ensure traceability throughout the entire leasing proces

In previous versions, errors in the contract could not be corrected.

-The software has an easy-to-use interface that new users have quickly grasped.

-As the database is open, we have been able to easily utilize it to create custom reports with tools such as Lavastorm and Microsoft Power BI.

-Having a data repository that contains all leasing contracts within one software has provided visibility to the needed internal stakeholders

-Having a system directly linked to SAP has proven beneficial

We are using the SP5 version of the software, which has then been upgraded to SP7. The reporting functionalities of the version used by our company do not support our reporting requirements. This has lead to limited visibility on the leasing contracts deployed in SLAN (for which Power BI-solutions have been created). In addition, we have found many bugs related to the version, which has caused many issues that have proven time-consuming to solve for our SLAN key users and IT.

- input into NLA all our lease contracts information in an easy and efficient manner. - the software is user friendly to manage new and matured leases and process the monthly lease accounting entries. - schedules and reports provide the necessary information by contract to control the asset values and liabilities at any given time.

There have been a couple of version upgrades in the last couple of years, requiring testing on our end after the upgrades.