Implement IFRS 16 with a pre-configured solution from Opal Wave

Loading

The solution:

• Imports transitional data
• Calculates assets and liabilities

Running

IFRS 16 for SAP BPC enables operators to:

• Maintain leases
• Manage financial information

Reporting

The solution facilitates:

• Full disclosures
• Reconciliation with consolidated accounts

Maintenance

IFRS 16 for SAP BPC offers:

• Simple lease maintenance and data management in a familiar environment
• The ability to import and bulk load data for setup

Calculations and Processes

The solution provides:

• Automated calculations of derived data, based on lease and other financial information
• The option to hold comparative data for alternative treatment and evaluation of transition arrangements
• Currency conversion from lease to entity and reporting currencies
• The ability to report actual and forecast numbers, based on current and anticipated leases
• Automated posting of data to consolidation models and ERP systems

Reporting

IFRS 16 for SAP BPC offers:

• A lease asset register
• Individual lease reporting
• Summary and detailed lease reporting by organisation, lease type and other classifications.
• Reconciliation of data between consolidation models and IFRS 16 lease detail, including automatic aggregation by asset class for each entity or business unit
• Direct links to lease documents held directly within the system or external document management solutions, including SharePoint.

Cost

Users avoid:

• New software or software as a service subscriptions
• Additional hardware
• Complex deployment demands, as the system capitalises on existing solution components

Time

IFRS 16 for SAP BPC means:

• No technical implementation time
• Zero installation lead time
• Embedded templates
• Rapid roll-out, as security and users are already deployed
• Unconstrained delivery capacity, with deployment skills and consulting resources already existing

Data and Integration

The solution offers:

• Shared master data
• Posting inside the same solution, thus reducing or eliminating integrations
• Data loading, using existing and understood integration tools

User adoption

Users of IFRS 16 for SAP BPC:

• Experience a familiar environment
• Acquire an addition to existing solutions
• Follow a simplified process, with fewer steps connecting multiple products
• Utilise a tool that can be added to existing BPFs
• Undergo training focused solely on the process, enabling more effective learning in a shorter time, with no new technology being needed.

Management

The solution benefits users because:

• The skilled resources needed are in-house already
• Maintenance is reduced through the re-use of existing components, such as dimensions and security
• It is supported by extending existing relationships…there are no new agreements to manage.