Case Study: a leading multinational pharmaceutical company achieves ASC 842 compliance with Nakisa Lease Accounting

a major pharmaceutical company achieves ASC 842 compliance with Nakisa in 2018

The customer, a leading multinational pharmaceutical company, faced the challenge of achieving ASC 842 compliance for its global lease portfolio, which included real estate and equipment. They required a solution with efficient lease event management, robust reporting, and seamless data tracking. The vendor, Nakisa, provided its Nakisa Lease Accounting software to address these complex needs.

Nakisa's solution natively integrated with the company's SAP ERP system, automating the calculation and posting of right-of-use assets and lease liabilities. This integration enabled direct data synchronization, automated periodic postings, and accurate financial reporting. As a result, the pharmaceutical company achieved enhanced ASC 842 compliance, improved global portfolio management with support for multiple currencies and fiscal years, and significantly reduced operational costs. Nakisa became a valued partner in streamlining the customer's end-to-end lease accounting process.