Case Study: AFRY achieves fast, accurate IFRS 16 reporting for one‑third of the corporation with ZenTreasury

AFRY takes care of the IFRS 16 reporting for one third of the corporation in a few hours

AFRY, an international design and consulting company formed from ÅF and Pöyry, needed a scalable, accurate way to comply with the new IFRS 16 lease accounting standard after its 2019 acquisition. Prior to the project AFRY’s treasury used Excel for lease entries, which was time-consuming and error-prone. AFRY selected ZenTreasury and its lease module to handle the IFRS 16 project because the vendor was flexible, straightforward and cost-effective.

ZenTreasury implemented its IFRS 16 lease software, imported AFRY’s Excel data, and guided the team through set-up so the environment worked immediately. The result: lease reporting for one third of the corporation is now maintained by four employees who spend only a few hours a month on calculations, country-level submissions are no longer required, accuracy and confidence have improved, and AFRY planned to expand ZenTreasury to cover the whole corporation from 2021.

AFRY

Vilma Forsell

Financial Service Center