Case Study: TIP Trailer Services achieves IFRS 16 lease accounting compliance with Planon Universe

TIP Trailer Services achieves on-time, in-budget IFRS 16 compliance with Planon

TIP Trailer Services, a company for which lease management is a core business activity, faced the challenge of becoming compliant with the new IFRS 16 accounting standards. The project required assessing the financial impact using a complex retrospective approach, but internal communication was difficult as local teams did not share the same financial language. TIP needed to centralize the accounting process for data integrity while encouraging local engagement, prompting them to seek a new contract management system. They selected Planon Universe for its cloud deployment, user-friendly interface, and mature IFRS 16 functionality.

Planon implemented its solution to automate IFRS 16 lease accounting calculations, journal entries, and analytics. The implementation was completed successfully on time and within the project's original budget, allowing TIP to achieve its crucial compliance goals. By using Planon, TIP was able to centralize its accounting process to ensure data integrity.

TIP Trailer Services