IFRS 16 Leases Asset Leasing LOIS Leasing Software AASB 16

How Quadrent helped a leading UK software company expand its global footprint

By Stefan Iggo Aug 19, 2020 4:50:48 PM
image alt How Quadrent helped a leading UK software company expand its global footprint

Innervision started its partnership with Quadrent in early-2017 to expand the footprint of its lease accounting solution, LOIS Lease Accounting (LLA) across the Asia Pacific (APAC). Since the start of the partnership, 70 companies across the region have chosen LLA for their lease accounting needs. With a lease book valued at AUD28 billion in APAC, the partnership has been successful for all parties, including Quadrent, Innervision, and, most importantly the customers. Read our full case study here to learn more about the partnership and how Quadrent helped Innervision grow its footprint.

Across APAC, LLA has proven to be an effective lease accounting solution for companies of all sizes from a range of industries such agriculture, mining, retail trade, education and training, manufacturing and transport, to name a few. 

In a survey that Quadrent conducted, based on PwC’s global survey of clients to measure the efficacy of IFRS 16 implementation across a range of solutions, 90 per cent of respondents stated that LLA consultants provided sufficient guidance and communicated effectively, compared to just 40 per cent of respondents in PwC's survey. Beyond the expertise of the LLA consultants, one of the key things that LLA's customers like about the program is that it provides assurance to organisations that they're meeting their obligations.

"It gives us confidence that we are complying with the AASB16 requirements, and the reconciliation process has improved," one client explained in the survey.

Not only does LLA help organisations feel confident about ensuring their AASB16 leases are compliant, but the program also improves risk management. Another client said LLA provides, “Easier visibility of lease expiry dates and leases where we have no contracts, driving better compliance and risk management," highlighting the wider commercial benefits of LLA for organisations.

A reminder that you can read our full case study here.

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