IFRS 16 Software - by Progen
The perfect way to automate your organisations IFRS 16 / AASB 16 lease accounting compliance. Whether your organisation’s lease process involves property or non-property leases such as equipment, fleets or telecom towers – Progen handles these with ease. Our IFRS 16 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.
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 Software
Full sub-leasing functionality
Highly accurate with daily calculations and four decimal points
Full transparency of individual lease treatments for any IFRS calculations
Advanced retail specific measures including 4-4-5 calendar
Strong budgeting and forecast capability
Property specific IFRS functionality (options, rent reviews, outgoings etc.) as standard
IFRS reporting at individual, groups, portfolio or different business entities level
Automated data upload utility
IFRS 16 compliance leveraging on core lease information
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
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.