"What used to be difficult, stressful and indeed time-consuming now became much easier. Consolidating new acquisitions was easy to handle. The same was true, for example, of currency issues, index adjustments, terminations, and changes in contract terms. In the group finance department, we are concerned with doing things right, not least because IFRS 16 affects reporting to the stock exchange, including profit & loss. With a lease accounting software, it is also easy to do journal entries, produce notes and retrieve reports. All of this, which used to take a lot of time, becomes very smooth when handled with such software."
"Having 400 rental agreements and an annual rent bill of NOK 1 billion constitutes a considerable business risk. It’s very important that the leases we want to retain are renewed and/or renegotiated. With so many leases, this work must be automated, otherwise we could easily run into trouble that would cost us millions."