Source https://www.cognitusconsulting.com/undestanding-how-to-identify-the-right-ifrs-tool-for-you/

Link webinar https://youtu.be/ZCcGOzXp64A

The objective of disclosure requirements under IFRS compliance is for entities to publish information in their financial statements that enable users to “assess the effects that leases have on the financial position, financial performance and cash flows of the lessee.”

In order to achieve this objective, entities are required to provide disclosures of their assets, liabilities, expenses and cash flows that are generated by lease contracts. Many global businesses that work with SAP ERP (both ECC and S4HANA) have implemented Hamilton Engine, an SAP add-on, in 3-5 months to address:

◉ Data gaps or inaccurate/Incomplete data: The required data is not available, solving this challenge often takes longer than anticipated.

◉ Complex use cases and transition approach: The business process is too complex, data is scattered among too many systems, and too many assumptions exist.

◉ Lack of clearly defined outputs: The reports / data to be disclosed are not clearly defined, little clarity on the ideal end result.

◉ Manual processes/No automation: The new IFRS standards are complex, without the right tools, accuracy of the disclosures is questionable.

Contact us to find a solution that is simple and user-friendly, supports all current requirements and is adaptable to future ones, counts with ready reports and disclosures, and has a non-disruptive approach towards your existing business processes.