Nakisa Lease Administration

Nakisa Lease Administration

Lease management & accounting for ASC 842 IFRS 16 compliance

About Nakisa Lease Administration

Nakisa Lease Administration (NLA) is a cloud-native solution that assists global enterprises in streamlining lease accounting and lease management. Built for 1000+ contract portfolios, NLA offers end-to-end lease lifecycle management for equipment, land, fleet, and real estate assets. With built-in compliance capabilities for ASC 842, IFRS 16, and local GAAP, our comprehensive software is a solution of choice for Fortune 1000 companies with multiple ERPs (SAP and Oracle).

With native bidirectional integration with ERP systems (SAP, Oracle, and others), Nakisa contributes to better data management, boosts control over operations, and eliminates the risk of human errors caused by manual dual entries. Besides ERP integrations, Nakisa offers great API connectivity to synchronize and reconcile data (one of the example of third-party integrations is BlackLine).

To boost lease accounting and administration, NLA offers true asset-level accounting and lease asset tracking, mass operations (modification, indexation, and workflow transition), support of all lease events (inception, modifications, renewal, purchase, etc.), as well as even reversion! Nakisa enables you to control the scope of access, grant role-based permissions, and design the workflows of data gathering and approvals across various teams, so your workflows perfectly align with your operational needs.

Nakisa Lease Administration effectively supports a robust lease portfolio, accommodating a substantial number of lease contracts (up to 1,000,000) with diverse assets that have distinct lease lifecycles and events. Designed for complex scenarios, NLA is adaptable to various situations like indexation, rent escalation, multiple vendors, non-standard calendars, and more.

With NLA, you can benefit from disclosure reporting under multiple standards, 10K/10Q reports, ad-hoc reports to support additional analysis, and highly configurable dashboards.

Nakisa Lease Administration goes beyond functionality with its scalable and reliable cloud-native architecture, ensuring 99.5% solution availability. Its commitment to security is underscored by compliance with SOC 1 Type II, SOC 2 Type II, and GDPR. Users can also benefit from regular updates with two major releases per year, accompanied by performance and bug fixes every eight weeks.

NLA is not just a solution; it's a partner in your success. With 24/7 customer support, dedicated account managers, and comprehensive onboarding and training activities, Nakisa ensures a caring and supportive user experience.


Key benefits of Nakisa Lease Administration

• Nakisa Lease Administration offers native bidirectional ERP integrations (SAP ECC, SAP S4/HANA, Oracle), enabling users to perform scheduled or on-demand batch posting from Nakisa sub-ledger to ERP GL and achieve their controlled synchronization.

• Nakisa's lease accounting software automates parallel compliance across multiple standards (ASC 842, IFRS 16, local GAAP) and offers non-standard 4-4-5 calendar support, automated indexation adjustments (CPI, etc.), multi-currency FX translation under ASC 830 and IAS 21, modification and reassessment recordings on any effective date, and many more features!

• NLA offers powerful features for lease management automation and accurate lease accounting. It supports all types of lease events, mass operations, batch postings, payment postings and more.

• NLA offers extensive configurability and scalability, making them its competitive advantage on the market of the lease management and accounting software. From flexible asset accounting to granular permissions for segregation of duties (SoD), NLA can be tailored to perfectly fit your organization and workflows. Its cloud-native architecture ensures unparalleled scalability, making it ideal for global enterprises with hundreds of thousands of contracts and high-volume monthly activity.

• With NLA, you can benefit from disclosure reporting under multiple standards, 10K/10Q reports, ad-hoc reports to support additional analysis, and highly configurable dashboards.


Images

Nakisa Lease Administration Software - NLA offers mass data upload from multiple sources via bilateral ERP sync (SAP ECC, SAP S4/HANA, Oracle), APIs, and flat files. It also has validation tools to ensure the lease capture is complete and accurate.
Nakisa Lease Administration Software - In a single contract, multiple lease assets may have different lives: amortization period start, end dates, and events. NLA supports all lease events (inception, modifications, renewal, purchase, etc.), as well as their reversion and mass operations
Nakisa Lease Administration Software - Nakisa allows journal entries pre-generation to see the impact before posting. Perform scheduled or on-demand batch posting from the Nakisa sub-ledger to ERP GL for controlled data synchronization to generate payments and easily reconcile.
Nakisa Lease Administration Software - Nakisa's lease accounting software automates parallel compliance across multiple standards (ASC 842, IFRS 16, local GAAP) and offers non-standard 4-4-5 calendar support, automated indexation adjustments (CPI, etc.), and multi-currency FX translation.
Nakisa Lease Administration Software - With Nakisa's lease management software, you can benefit from disclosure reporting under multiple standards, 10K/10Q reports, ad-hoc reports to support additional analysis, and highly configurable dashboards.
Nakisa Lease Administration Software - NLA offers powerful features for lease management automation and accurate lease accounting. It supports all types of lease events, mass operations, batch postings, payment postings, and more.  It's  SOC 1 Type II, SOC 2 Type II and GDPR compliant software
View 6 more
Nakisa Lease Administration Software - NLA offers mass data upload from multiple sources via bilateral ERP sync (SAP ECC, SAP S4/HANA, Oracle), APIs, and flat files. It also has validation tools to ensure the lease capture is complete and accurate.
Nakisa Lease Administration Software - In a single contract, multiple lease assets may have different lives: amortization period start, end dates, and events. NLA supports all lease events (inception, modifications, renewal, purchase, etc.), as well as their reversion and mass operations
Nakisa Lease Administration Software - Nakisa allows journal entries pre-generation to see the impact before posting. Perform scheduled or on-demand batch posting from the Nakisa sub-ledger to ERP GL for controlled data synchronization to generate payments and easily reconcile.
Nakisa Lease Administration Software - Nakisa's lease accounting software automates parallel compliance across multiple standards (ASC 842, IFRS 16, local GAAP) and offers non-standard 4-4-5 calendar support, automated indexation adjustments (CPI, etc.), and multi-currency FX translation.
Nakisa Lease Administration Software - With Nakisa's lease management software, you can benefit from disclosure reporting under multiple standards, 10K/10Q reports, ad-hoc reports to support additional analysis, and highly configurable dashboards.
Nakisa Lease Administration Software - NLA offers powerful features for lease management automation and accurate lease accounting. It supports all types of lease events, mass operations, batch postings, payment postings, and more.  It's  SOC 1 Type II, SOC 2 Type II and GDPR compliant software

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3,8 (18)
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Starting Price

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£0,46

Pricing Options

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Features

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Integrations

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Ease of Use

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Value for Money

3,8 (18)
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Reviews

Overall rating

3,8 /5
(18)
Value for Money
3,8/5
Features
3,6/5
Ease of Use
3,8/5
Customer Support
3,3/5

Already have Nakisa Lease Administration?

Software buyers need your help! Product reviews help the rest of us make great decisions.

Showing 5 reviews of 18
Daniel
Daniel
Overall rating
  • Industry: Sporting Goods
  • Company size: 5 001–10 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

SAP-Integrated Lease Administration and accounting

Reviewed on 2020/10/06

Pros

We were looking with a fully integrated Cloud solution into our SAP landscape, capable to handle our lease process globally to comply with IFRS16 regulations.

Cons

At the beginning in 2018 we were still seeing some product gaps which were closed with several upgrade packages in the meantime.

Alternatives Considered

Planon

Reasons for Switching to Nakisa Lease Administration

For flexibility and SAP integration with several global systems.

Response from Nakisa

Hi Daniel, thanks so much for your review. We appreciate your feedback. Please don't hesitate to reach out to us at [email protected] if you ever need help with something and our Customer Success team will work with you to address them.

Olof
Olof
Overall rating
  • Industry: Automotive
  • Company size: 10 000+ Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 9.0 /10

Nakisa Lease Administration

Reviewed on 2022/10/03

This is a niche "best of breed" product and small company that is really dedicated to lease...

This is a niche "best of breed" product and small company that is really dedicated to lease accounting. This means a lot of interaction between the user community and Nakisa. When you have a problem or an idea, you can get in touch with the solution engineers, the product team and so on. There is a process for submitting enhancements and improvements. Either through the ordinary tickets if you mark them enhancement request, or you can have a 1:1 with the solution engineer to describe your problem or improvement idea more thoroughly and then they'll take it to product team. I've personally had these tickets and these sessions, and seen some of of my ideas enter into the product at a later stage, through a new release. Other customers are doing the same.

There is also a monthly user group meeting where interesting topics are discussed, and we share experiences and ideas. Nakisa will listen in and capture improvements, problems, and so on. So this kind of "virtual village" is really a strength of this product.

Pros

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.

Cons

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.

Juho
Overall rating
  • Industry: Paper & Forest Products
  • Company size: 10 000+ Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

SLAN SP5

Reviewed on 2019/07/30

The software is still work-in-progress. After IFRS16 has been in place, there were some hiccups...

The software is still work-in-progress. After IFRS16 has been in place, there were some hiccups with the software that were both due to the system being new and some standard functionalities having bugs which has taken time to solve from both Finance and IT functions.

Overall however, the system suits the needs of our company, as the primary purpose of the software is to fulfil the requirements set by the IFRS16 standard change. Leases in all are not considered to be in the center of our business, so the main aim of implementing the software was to satisfy reporting requirements towards investors.

Pros

-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

Cons

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.

Alternatives Considered

IRIS Lease Accounting

Reasons for Switching to Nakisa Lease Administration

The fact that it was a SAP-backed product impacted the decision making immensely. In addition, benchmarking with other Finnish companies, we found many had chosen SLAN as the

Response from Nakisa

Hi Juho. Thank you so much for the detailed review and comprehensive feedback! We're glad that your overall experience has met your needs, but understand the challenges you have been facing as well.

Have you discussed an upgrade to the newest version 5.0 with your Account Manager? A large number of your comments have been addressed in this latest release, including a comprehensive and brand new reporting module with significantly enhances our reporting engine and also provide additional visibility and insights.

Irene
Overall rating
  • Industry: Renewables & Environment
  • Company size: 1 001–5 000 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Sanimax's experience with Nakisa Lease Administration

Reviewed on 2023/04/27

Nakisa Lease Administration (NLA) software has been an invaluable tool, helping us to properly...

Nakisa Lease Administration (NLA) software has been an invaluable tool, helping us to properly control all our leases, and meet all our accounting and reporting requirements. When ASC 842 Lease Accounting Standard for US GAAP was adopted in 2020, we were able to input into NLA all our lease contracts information in an easy and efficient manner. This was no small feat considering we have hundreds of lease contracts, ranging from small value items such as photocopiers to big ticket items like trucks and railcars. The software continues to be user friendly, as we work with it monthly to manage new and matured leases and process the monthly lease accounting entries. NLA schedules and reports provide us the necessary information by contract to control the asset values and liabilities at any given time. The NLA team has also been instrumental in ensuring all our doubts and questions are answered, always quick to respond to our needs. All in all we are very satisfied with NLA and recommend it highly!

Pros

- 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.

Cons

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

Guido
Overall rating
  • Industry: Information Technology & Services
  • Company size: 10 000+ Employees
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

Good solution, yet some requirements not fully included

Reviewed on 2019/07/22

Pros

Easy to understand, quite intuitive UI. Fits to process and organizational design.

Cons

A couple of custom configurable options cannot be configured by ourselves as they are not part of the admin backend, but of the service configuration editor, where changes are only allowed with the support from the suppliers technical consultants.

Response from Nakisa

Hi Guido, we appreciate all your feedback and we're glad to hear you appreciate the solution's simplicity and UI. We'd also invite you to look at the latest release, Nakisa Lease Administration 5.0 which has numerous fixes and enhancements based on the feedback of our customers, including backend enhancements. We'd invite you to reach out to your Account Manager directly for further details.

Showing 5 reviews of 18 Read all reviews

Nakisa Lease Administration FAQs

Below are some frequently asked questions for Nakisa Lease Administration.

Nakisa Lease Administration offers the following pricing plans:

  • Starting from: US$0,01
  • Free Trial: Not Available

Contact Nakisa for pricing details.

Nakisa Lease Administration has the following typical customers:

51–200, 201–500, 501–1 000, 1 001–5 000

Nakisa Lease Administration supports the following languages:

English, French, Spanish

Nakisa Lease Administration supports the following devices:

Nakisa Lease Administration integrates with the following applications:

Oracle Service, SAP Business One

Nakisa Lease Administration offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat

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