Master Your IFRS 16 Compliance with Progen

Whether your organization’s lease process involves property or non-property leases such as equipment, fleets or telecom towers – Progen handles these with ease. Our software is configurable to suit any business or any industry looking for IFRS 16 (AASB 16) compliance.

Transition made easy

For many businesses, the transition of moving from operating leases to finance leases is a challenge.  It involves finding the right processes, correct data and requires property and finance teams to work closely together with other departments such as procurement and compliance. A lease management solution provides you with all vital source data held in one place and minimises the risk of double-entry when using multiple platforms.

Full Transparency

Progen supports all three transition methods and offers full transparency of individual lease treatments under IFRS 16 and AASB 16. That way, you can feel confident presenting the numbers to your auditor. Detailed world-leading reporting and analytics allow for accurate data and business insights. Report at individual lease level, by groups, portfolio or different business entities.

Ability to remeasure any change to a lease components

Automatic calculations around lease liability on certain projections

Full reporting and journal output

Transition requirement guide

Scenario impact and budget capability

Benefits of Progen IFRS 16 Compliance

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Full sub-leasing functionality

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Highly accurate with daily calculations and four decimal points

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Full transparency of individual lease treatments for any IFRS calculations

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Advanced retail specific measures including 4-4-5 calendar

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Strong budgeting and forecast capability

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Property specific IFRS functionality (options, rent reviews, outgoings etc.) as standard

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IFRS reporting at individual, groups, portfolio or different business entities level

N

Automated data upload utility

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IFRS 16 compliance leveraging on core lease information

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Exporting any calculations and data to Excel

Seamless integration with ERP systems

Available in the cloud and on-premise

Multi-currency and different business entities

Ensured security with user permits and audit trails

Designed to understand your lease accounting needs

Progen works as a full accounting suite, but can easily be used to simply produce all outputs for journals to be directly transferred to your usual finance system. And if you’re not ready to let go of your beloved spreadsheet just yet, the software allows you to export all automated calculations to Excel.

Multi level property hierarchy – including land

Lessee and lessor structure

Sub-leasing capability

Present and fair value calculations

Advanced retail specific measures

Designed to tackle the challenges with property leases

One of the many benefits of Progen is that the solution is designed to understand, calculate and automate any complex property lease financials.