IRIS Lease Accounting Software

IRIS Lease Accounting Software

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About IRIS Lease Accounting

IRIS Lease Accounting is a cloud-based solution designed to simplify and automate compliance with the FASB ASC 842 and IFRS 16 standards. The solution is used by thousands of finance professionals globally and is relied upon by global enterprises to achieve and maintain compliance with the latest lease accounting standards. The solution incorporates rich functionality that revolutionizes the way you manage FASB ASC 842 and IFRS 16 compliance including: Leasing subledger, simplified re-measurement, amortization and depreciation schedules, multi-calendar support, accurate disclosures and audit trail reporting, lessee and lessor accounting, Covid-19 rent concessions, end of lease notifications, full lifecycle management, robust controls, data validation, multi-currency t...
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IRIS Lease Accounting User Reviews

OVERALL RATING

SECONDARY RATINGS

Ease-of-use

4.5

Value for money

4.5

Customer support

5

Functionality

4

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Tomoko

Yusen Logistics (UK) Ltd

Verified reviewer

Company size: 1,001-5,000 employees

Industry: Logistics and Supply Chain

Time used: Less than 6 months

Review Source: Capterra

Ease-of-use

5

Value for money

4

Customer support

5

Functionality

5

Reviewed June 2021

Great system I can trust

Pros

I like the system because it's very user friendly and intuitive. Reports system generates include more than enough information that we need and make our reporting much easier every month. Since we started to use this system, we have not had any problem at all and our reporting now takes 1/10 of time compared to our old system. Their customer service is exceptionally good and I have build a good relationship with them already.

Cons

Perhaps the cost, though I feel it's worth it considering how stress free it is now using software, it is more than we paid to other software we had before.

Reasons for switching to IRIS Lease Accounting

It was not user friendly, there was no function to lock data so the numbers kept changing and found it very difficult to reconcile all numbers. Any changes we had to make wasn't straight forward and it couldn't accommodate changes we wanted to make very well. We also had problem with customer services as they were overseas based company, there was always time difference which delayed any responses to be looked at.

Alison

NATS

Verified reviewer

Company size: 1,001-5,000 employees

Industry: Airlines/Aviation

Time used: More than 2 years

Review Source: Capterra

Ease-of-use

4

Value for money

5

Customer support

5

Functionality

4

Reviewed July 2021

IRIS leasing software

We needed a product urgently to manage our leases follow the implementation of IFRS16. Using the reports available there has been enough information in all the reports to produce all the reporting/disclosure requirements with a little manipulation. So overall experience very good. There are a few areas like intercompany leases, impairment where we currently have workarounds.

Pros

Ease of implementation and use. Reports provided pretty comprehensive.

Cons

Software features have increased over time but we have had to do a few work arounds until features become available

Reasons for choosing IRIS Lease Accounting

Ease of implementation and price.

Simon

BWG

Verified reviewer

Company size: 1,001-5,000 employees

Industry: Consumer Goods

Time used: Less than 2 years

Review Source: Capterra

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

4

Reviewed June 2021

Simon Hughes BWG

Very good product with great customer service but i do feel the above 2 features are crcuial.

Pros

I think the excel reports are excellent, so easy to follow and have all the financial information required from all areas of finance as well the information worksheet informs all readers of all the information of each lease.

Cons

2 things i think must be updated in order for it to be the perfect product. 1. From an accounting side of things back posting should not be allowed in the excel reports. 2. Subleases need to be accounted for.

Rachel

Study Group

Verified reviewer

Company size: 1,001-5,000 employees

Industry: Higher Education

Time used: More than 2 years

Review Source: Capterra

Ease-of-use

4

Value for money

5

Customer support

5

Functionality

3

Reviewed June 2021

Very pleased with our journey with LOIS / IRIS Lease Accounting

Pros

Very easy to use and looks nice, which made roll out to the business and training a lot more efficient. The helpdesk is simple to use and response time is very good.

Cons

Not all features were available and still there are some features not ready yet, such as sublease / lessor accounting. There are also some restrictions/limitations such as only certain modification dates being available within an In Life Change.

Reasons for choosing IRIS Lease Accounting

Very reasonably priced and the team were very helpful and paid attention to our business. During the demo I could see it was a quality product.

Bart

Vion

Verified reviewer

Company size: 5,001-10,000 employees

Industry: Food Production

Time used: More than 2 years

Review Source: Capterra

Ease-of-use

4

Value for money

4

Customer support

5

Functionality

4

Reviewed June 2021

Review LOIS Lease Accounting

Customer support is excellent!

Pros

Easy to master, outputs provide all information that is needed in one clear way.

Cons

Handling speed (from screen to screen) may be improved.

Reasons for choosing IRIS Lease Accounting

N/a

Anton

Cloetta

Verified reviewer

Company size: 1,001-5,000 employees

Industry: Food & Beverages

Time used: More than 2 years

Review Source: Capterra

Ease-of-use

4

Value for money

5

Customer support

5

Functionality

4

Reviewed June 2021

Very good value for money

Initial implementation of IRIS lease accounting was a smooth ride. Aftercare is excellent.

Pros

Ease of use Deployment process Continuous support

Cons

Direct link to ERP platform not available

Reasons for choosing IRIS Lease Accounting

Value for money

Helen

Dunelm Group plc

Verified reviewer

Company size: 5,001-10,000 employees

Industry: Retail

Time used: Less than 2 years

Review Source: Capterra

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

4

Reviewed July 2021

Simple and effective

Pros

Great support during implementation, happy to answer all my queries and concerns, simple and effective for Finance to ensure IFRS16 accounting is correct and fully auditable

Cons

Not possible to amend the financial calendar that was changed after implementation, English quarters have to be entered manually