Case Study: Clarins achieves IFRS 16 compliance with Viareport Lease from insightsoftware

Clarins centralizes 900+ lease contracts with Longview for IFRS 16 compliance

Clarins, a leading European manufacturer of high-end beauty products, faced a significant challenge in complying with the new IFRS 16 accounting standard for its nearly 1,000 lease contracts. Managing these contracts over their lifetime, including tracking changes, renewals, and terminations, was impossible with a manual tool like Excel. To solve this, Clarins selected the Viareport Lease solution from insightsoftware to centralize and manage all of its lease agreements.

The insightsoftware team implemented Viareport Lease, providing dedicated consultant support and training for Clarins' global teams. The solution provided real-time monitoring of contract changes, powerful multi-dimensional analysis through its Web Analyzer tool, and automatic generation of compliant restatement journal entries. As a result, Clarins was fully operational and met the IFRS 16 deadline, gaining a versatile and flexible tool that ensures ongoing compliance and provides deep insights into the financial impact of its lease portfolio.

Clarins