Implement IFRS 16 with a pre-configured solution from Opal Wave
- Complete IFRS 16 solution
- Works with your existing SAP BPC applications
- No need for additional servers or capital expenditure
- Customise to fit your needs exactly
Implement IFRS 16 with a pre-configured solution from Opal Wave
- Complete IFRS 16 solution
- Works with your existing SAP BPC applications
- No need for additional servers or capital expenditure
- Customise to fit your needs exactly
IFRS16 for SAP BPC
International Financial Reporting Standard (IFRS) 16 has made lease accounting up-to-date and transparent. Users of the on premise or cloud-based versions of the SAP Business Planning and Consolidation (BPC) system on any platform can now benefit from our IFRS 16 for SAP BPC solution.
The system supports the disclosure and calculations of your RUA valuations, lease liabilities and all associated balance sheet and profit and loss account postings.
See our SAP BPC IFRS 16 solution working on our pre-recorded webinar
What benefits does our SAP BPC Pre-configured template for IFRS 16 offer your organisation?
Implementation Benefits
Getting started with IFRS16 for SAP BPC, which we are deploying with many customers, is easy because it:
- Contains a simple “plug and play” option for all SAP BPC users
- Capitalises on what you already have and know
- Integrates with any source, including all enterprise resource planning (ERP) systems
- Provides direct posting and reconciliation inside the SAP BPC solution
- Offers multiple transition options
Operational Benefits
IFRS 16 for SAP BPC offers operators multiple benefits under numerous headings. For example:
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.
Strategic Benefits
The solution delivers a wide range of strategic advantages, in various categories, including:
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.
Don’t just take our word for it
We take great pride in delivering results – including ROI and other KPIs – for all of the Online Financial Planning and Online EPM solutions we provide for our clients. But don’t just take our word for it…
“We have 50 to 100 suppliers on the IT side, and many talk about being our partners but in reality it’s more of a win-lose relationship and they don’t earn our respect by operating at that level. Opal Wave, however, are different and all their staff, not just the senior people, know their stuff and what we should be doing.”
Magnus Wretlund, IT system manager, business intelligence and CRM, Scandic Hotels
Don’t just take our word for it
We take great pride in delivering results – including ROI and other KPIs – for all of the Online Financial Planning and Online EPM solutions we provide for our clients. But don’t just take our word for it…
“I would just like to feedback on our training weeks with Adam. Overall we were very pleased with the support which Adam has given us – it perfectly suited our needs. Adam was a pleasure to work with, worked with us tirelessly to both train us and support us in building reports, and additionally built reports directly for us. We were also able to open up online sessions to our wider CRS users and the feedback from these has been excellent.”
Amy Stark, Global Finance Manager, Howden Global
Don’t just take our word for it
We take great pride in delivering results – including ROI and other KPIs – for all of the Online Financial Planning and Online EPM solutions we provide for our clients. But don’t just take our word for it…
“We needed a solution that would give us fast, accurate, and reliable reporting and consolidation. At the same time, we needed a solution that all the different groups in our company would be able to implement and use with relative ease”
Marc Fahl, Head of Group Financial Monitoring and Consolidation, Bank Audi sal – Audi Saradar Group
Further reading about IFRS 16
Move to IFRS 16 –Secure your Reputation And Business Funding Future
There’s less than a month to go until IFRS 16 becomes effective on 1 January 2019 and it could cost…
6 Questions About SAP BPC IFRS 16 Solution
International Financial Reporting Standard (IFRS) 16 becomes effective for accounting periods…