Any new finance or accounting regulation poses resource and systems challenges for organizations, especially when you are one of the largest telecommunication providers in the world with over 100 million subscribers and a large, complex lease landscape.
After attempting to use an existing lease administration system to comply with the IFRS 16 and ASC 842 lease accounting standards, they went back to the drawing board. Following an evaluation of 16 vendors they selected and implemented a solution that could drive their innovative lease accounting approach.