TomTom centralized and automated lease accounting operations to achieve IFRS 16 compliance for its real estate and vehicle lease portfolios using Nakisa’s lease accounting software.

TomTom is the leading independent location technology specialist, shaping the future of mobility with highly accurate maps, navigation software, and real-time traffic information and services. Committed to creating a safer, congestion-free, and emission-free world, it develops innovative technologies that keep people and vehicles moving. By leveraging its extensive experience and collaborating with top business and technology partners, TomTom drives advancements in connected vehicles, smart mobility, and autonomous driving. Headquartered in Amsterdam and with offices in 30 countries, TomTom’s technology is trusted by hundreds of millions of people worldwide. TomTom selected Nakisa’s lease accounting software (also known as Nakisa Lease Administration or NLA) to streamline its lease accounting and ensure IFRS 16 compliance.

Challenges before Nakisa's lease accounting software

As an early adopter of IFRS 16, TomTom’s primary challenge was finding the right tool to manage its lease portfolio earlier than most companies. Although its lease agreements were manageable in both number and complexity, the lack of central storage limited visibility and increased the time and effort required to manage the portfolio as a whole. With 53 buildings across 43 entities and over 400 leased cars, TomTom sought to avoid cumbersome Excel-based tools. It needed a process that was both centralized and globally accessible. Therefore, TomTom required a lease accounting solution that would provide global visibility into its lease portfolio, support timely compliance, and plan for long-term sustainability.

Why TomTom selected Nakisa's lease accounting software

TomTom chose Nakisa's lease accounting solution for its ability to handle complex calculations and support IFRS 16 disclosure requirements. TomTom valued Nakisa's native integration with its SAP ERP system, its capacity to act as a centralized repository for all of the organization’s leasing agreements, and its ability to provide insights into payment schedules. Additionally, Nakisa’s capability to store original contracts as PDF files, which can be tagged and easily accessed through the application’s user interface, was a significant advantage. The solution met all of TomTom’s requirements and, as a scalable option, will continue to adapt to the company’s growth.

Results from implementing Nakisa's IFRS 16 software

With Nakisa's lease accounting software, TomTom was able to become compliant with the latest accounting standards while also reducing the cost and time spent on manual calculations, which can now be invested into solving other business-related challenges. The Nakisa solution’s ability to natively integrate with TomTom’s ERP landscape particularly helped support their monthly accounting processes, as well as quarterly and annual external reporting.

As one of the early adopters of IFRS 16, we needed a lease accounting tool that ensured compliance with the standard while also granting us a central repository of all our agreements. We chose Nakisa Lease Administration for its native integration to our ERP landscape, which has greatly helped to streamline our lease accounting process.

Christian Rudyanto

Director of Accounting & Reporting at TomTom

“Nakisa's lease accounting software provided TomTom with global visibility into their lease portfolio and streamlined their lease accounting operations beyond compliance requirements and well into Day 2 sustainability,” said Imran Mia, Head of Global Solutions, Nakisa.

We also appreciated the solution’s clear and intuitive user interface, and such features as the revenue recognition tool and the option to tag PDF documents— something I haven’t seen in other tools.

Christian Rudyanto

Director of Accounting & Reporting at TomTom