Nakisa Lease Accounting

Avantages

We were looking with a fully integrated Cloud solution into our SAP landscape, capable to handle our lease process globally to comply with IFRS16 regulations.

Inconvénients

At the beginning in 2018 we were still seeing some product gaps which were closed with several upgrade packages in the meantime.

Alternatives envisagées 

Pourquoi passer à Nakisa Lease Accounting

Avantages

Simple user interface. Out-of-the-box integration with SAP ECC and S4 HANA. Highly flexible.

Inconvénients

Previous on-prem versions had several bugs which required manual workarounds or custom scripts to correct. These have been addressed in the subsequent cloud application.

Avantages

We had an issue for one of our leases that was not resolved but after 18 months. Not sure why the amortization stopped working and why it took so long for the Nakisa team to solve it.

Inconvénients

Nothing really I think they take too long to solve issues

Avantages

It is a customized system for IFRS 16 compliance that provides users with reporting tools to ensure traceability throughout the entire leasing proces

Inconvénients

In previous versions, errors in the contract could not be corrected.

Avantages

- input into NLA all our lease contracts information in an easy and efficient manner. - the software is user friendly to manage new and matured leases and process the monthly lease accounting entries. - schedules and reports provide the necessary information by contract to control the asset values and liabilities at any given time.

Inconvénients

There have been a couple of version upgrades in the last couple of years, requiring testing on our end after the upgrades.

Avantages

-The software has an easy-to-use interface that new users have quickly grasped.

-As the database is open, we have been able to easily utilize it to create custom reports with tools such as Lavastorm and Microsoft Power BI.

-Having a data repository that contains all leasing contracts within one software has provided visibility to the needed internal stakeholders

-Having a system directly linked to SAP has proven beneficial

Inconvénients

We are using the SP5 version of the software, which has then been upgraded to SP7. The reporting functionalities of the version used by our company do not support our reporting requirements. This has lead to limited visibility on the leasing contracts deployed in SLAN (for which Power BI-solutions have been created). In addition, we have found many bugs related to the version, which has caused many issues that have proven time-consuming to solve for our SLAN key users and IT.

Avantages

The twice yearly releases with ever more functionality and improvements in the Saas (cloud) version. product has now matured for many years with a high speed of innovation, so I would say the features is definitely on the "Pro" side. The fact that Nakisa hosts it means that support personnel, or the product team in tricky cases, can get a first hand view of the problem and can easily check logs, and so on. Try out solutions in QA. I am not sure if I can comment on ease of use since I have used it for many years now. For key user/administrator: Ease of administration for the master data and batch jobs, and a wealth of mass update tools and reports.

Inconvénients

It has been, let's say, quite a journey to upgrade between the different on-prem versions and then into the cloud. This meant that some contracts from the go-live had issues later on. It turned out e.g. that something was missed in migrations, due to things like additions in the data model through the early on-prem versions. The most impact was in SP4 created contracts (from initial load in 2019) when entering the Cloud. This is not a "Con" for someone choosing the software today, since they'll be starting on the cloud version and these issues won't be there.

If you have SAP ECC with classic (old) Asset Accounting there can also be some issues between the two systems. You'll have to consult your SAP AA expert to set up depreciation keys and so on to fit lease accounting correctly, since the case is often that Nakisa has the correct value in the schedules, but SAP Old AA won't quite be able to match it. Also with old SAP AA you'll (at least in the current release we're on, 2021 R2) miss out on the feature intercompany lease transfer for the companies connected to SAP ECC. These limitations will go away with time as companies move to SAP S/4.

Avantages

Compliant with ASC 842 and integrates with SAP

Inconvénients

Massively difficult to implement. Seemed like it barely had functionality and we built half the system for our company.

Avantages

We have a pretty vanilla lease profile, however, the system makes it easy to put all leases in one place and produce the necessary entries needed for closing. Also, we are utilizing the reporting functions more and more to better understand our portfolio and where we can make operational changes.

Inconvénients

There are some bugs that we are working through, but it hasn't interrupted anything in our current process.

Avantages

It's easy to use, provides authorization levels, it is possible to attach documents to the lease items

Inconvénients

To correct previous periods, the entire load file must be reloaded, the modifications are not easy to make, it is necessary to provide support from the supplier

Avantages

Good software for SAP customers at enterprise level no doubt
Helps bring all lease assets under one umbrella
Integrates with SAP albeit with some pain.
Good for small companies that dont have enterprise presence globally

Inconvénients

Software maturity curve is very slow, lot of issues to contend with
Batch posting still doesn't work need lot of manual intervention
Reporting is very minimal
Customer support is spotty
Software i snot able to handle the volume of leases globally with various nuances
Not designed to capture business needs for e.g approval is multi step that takes away the agility and speed
Lack of robust product knowledge by its own support folks.

Avantages

Simple to use for end-users
Easy system configuration
Easy to upgrade

Inconvénients

Software is not stable after so many releases
System has so many bugs and many things stop working suddenly
No references available on google or any other open source websites

Avantages

UI and the user friendliness of it. Users quickly know how to operate.

Inconvénients

Stability, system behaves inconstantly in some cases. It is also uncertain if new releases have new issues.

Avantages

The fact that is very simple to understand and gives you exactly the information you want to get. Also you can optimize you time and make other tasks, because the process of controlling and management of all your leasing contracts inside Nakisa is exactly one click away.

Inconvénients

Sometimes the exection of massive processes is slow, but I thikn that is because of the internet.

Avantages

Easy to understand, quite intuitive UI. Fits to process and organizational design.

Inconvénients

A couple of custom configurable options cannot be configured by ourselves as they are not part of the admin backend, but of the service configuration editor, where changes are only allowed with the support from the suppliers technical consultants.

Avantages

The Integration to SAP ERP and he Single Sign on.

Inconvénients

Should show:
- The user who is connected the easy wait

Avantages

Very little to recommend this software over another product

Inconvénients

Disappointed 3 years post implementation we do not have a solution to compute retirements on fleet leases, we have to have calculated manually. Also the system struggles to cope with large volumes of leases.

Avantages

Is easy to use and intagrated with SAP vs BAPI standar. Is easy to create new configuration data for create an other companies. It has many reports about diferent kind of movements.
Is easy to create new users with the correct profile for Nakisa vs SAP Profile. If has a good definition science begin, you don't need practicance any maintenance.

Inconvénients

You need make upgrades, will be better automatic upgrades at cloud. They don have technical spanish support.

Avantages

Overall pretty simple design and easy to use. Our lease profile isn't too complicated, so it does the job needed.

Inconvénients

Still a couple small bugs that need to be fixed.

Avantages

Ease of implementation.
Timely responses from Nakisa customer support

Inconvénients

Plenty of bugs to work out, but that is expected from a quick and first time program.