IFRS 16

From January 1, 2019, all listed companies are required to comply with IFRS 16, and for this they need a solution. ShareControl has developed a solution, integrated in Office 365, available in the ALSO Cloud Marketplace.

IFRS 16 replaced previously applicable IAS 17 and must be applied for fiscal years beginning January 1, 2019. ShareControl has launched a new service for managing leases in accordance with the new IFRS 16 accounting standard.

  • We have developed the solution in SharePoint and it acts as an add-in to Office 365, explains Ragnar Bryne, Operational Manager in ShareControl.

As the solution is created in Office 365, the customer can log in through their Office account and it is a standardized software that will do it easy got you to implement and get started.

 

Everyone needs a solution

The new standard has been introduced and many listed companies are looking for a solution. Therefore, ShareControl is now in the fortunate situation that customers come to them.

  • There are many people who are looking for a solution and who contact us. As far as I know, we are the only ones to provide such a solution in Office 365, ”says Bryne.
  • De store konsulentselskapene, som KPMG, Deloitte, PwC og EY fungerer også som ambassadører for oss fordi de ønsker at kundene sine skal ha en løsning de har god erfaring med. Dette er tungt materiale som krever ekspertise, og godt oppsett, fortsetter Bryne

Hva er alternativet til å velge deres løsning?

  • The large consulting companies, such as KPMG, Deloitte, PwC and EY, also act as ambassadors for us because they want their clients to have a solution they have good experience with. This is heavy material. The IFRS 16 standard Is comprehensive that requires expertise, and good system solutions, Bryne continues
  • Several of the large consulting companies say that if you have more than one contract, you need a solution.

Why?

  • Because it will be difficult to manually maintain what you need according to legal requirements; changes, index adjustments and termination of leases.

With ShareControl Contract & IFRS 16, companies get a proven model that the professional communities are familiar with and trust. All change logs are in the solution.

Therefore, IT Partners should sell the solution 

For IT Partners, this is a product that can be used both in sales to new customers and as an added value to existing customers to connect them more closely.

  • If you have listed companies as customers, you can take for granted that they need a system, says Bryne.

By implementing the solution at the customer, you connect the customer more closely.

  • Companies make agreements for a longer period. As there are high switching costs, it is rare for companies to want to switch to such a system once they have many agreements in place. In addition to leases, the system can also be used to handle other agreements, explains Bryne.

For potential users, among listed companies, the solution can be a good new sale: “We set up Office 365 with the desired user structure, integrated with a contract management tool that ensures that leases are handled in accordance with IFRS 16″».

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IFRS 16

From January 1, 2019, all listed companies are required to comply with IFRS 16, and for this they need a solution. ShareControl has developed a solution, integrated in Office 365, available in the ALS...