Dear Nakisa Lease Administration Customers,
We’re thrilled to announce the 2023 release of the Nakisa Lease Administration software (NLA). This NLA release is integrated into and driven by the Nakisa Cloud Platform version 3 (NCP 3), featuring a microservice- and event-driven architecture that ensures exceptional scalability, seamless integrations, and faster deployment and upgrades. This combination of solution and platform delivers significant productivity boosts for lease management and lease accounting in enterprises.
Code-named as “2023.R2”, this version of NLA includes but is not limited to the following key highlights for lease accountants and lease administrators:
- Non-Standard Calendar Support: 445, 454, 360, 365, and other custom calendars are now supported.
- Multiple Payments in a Period: Lease accountants can now easily set up multiple payments in the same period, streamlining complex payment scenarios.
- Escalating Rent: NLA now integrates escalating rent, a common clause for commercial real estate agreements, in payment terms, allowing users to specify changes in frequency and amount.
- Multi-Vendor Capabilities: An important feature for our clients and generally not offered by lease accounting software, NLA supports scenarios with more than one lessor in any given lease agreement and easily allocates payments based on complex real-life arrangements.
- Journal Entry Simulation: NLA users can now review journal entries for initial recognition before activating the lease, conclude journals during the contract's duration, or make periodic entries without the necessity of prior posting.
- Land Lease Support: To support IFRS 16 and ASC 842 compliance, NLA now offers the option to mark land asset classes as having an indefinite useful life starting from the date of an exercised purchase option, ensuring that no depreciation is recorded from that point forward.
Early adopters have successfully implemented NLA based on NCP 3 technology and reported major improvements in their lease management and lease accounting workflows. These benefits are now open to the public at large. This year’s release of NCP 3 and NLA 2023.R2 culminates years of hard work and careful collaboration with our enterprise clients. We’ve been listening to understand their needs so that we can future proof our solutions, ensure they exceed current client expectations, and respond to requirements brought about by clients’ growth.
Learn more about Nakisa Lease Administration today. Watch our webinar about the new NLA release to see it in action. Want to stay updated on Nakisa's innovations and insights? Follow us on LinkedIn or subscribe to our newsletter.
About Nakisa:
Nakisa is a global leader in cloud-based solutions for lease accounting, lease management, commercial real-estate, organizational design, and workforce planning. With a commitment to innovation, Nakisa provides enterprises with the technology they need to meet the challenges and complexities of a rapidly changing business landscape.
