Case Study: Rapala achieves multi-currency IFRS 16 lease accounting across 50 countries with ZenTreasury

Rapala handles IFRS 16 across 50 countries in 2 hours with ZenTreasury

Rapala VMC Oyj, a Finland-based publicly traded company and the world's largest manufacturer of fishing lures and tackle, faced a significant challenge complying with the IFRS 16 accounting standard. With subsidiaries and leasing contracts across 50 different countries and multiple currencies, they needed a robust lease accounting system. Many providers struggled with the multi-currency requirement, leading Rapala to select ZenTreasury for its specialized solution.

ZenTreasury implemented its IFRS 16 module for Rapala, a process that took only two hours. The solution provided seamless multi-currency support and allowed the company to manage its entire leasing portfolio from a single platform, generating all necessary accounting entries and reports. The implementation was remarkably efficient, with ZenTreasury's expertise and easy-to-use system enabling stress-free adoption and training for Rapala's controllers around the world.

Rapala