Quadrent, providers of the LOIS SaaS lease accounting platform, are pleased to announce that Steel & Tube, New Zealand’s leading provider of steel solutions, has elected to use the LOIS solution for their transition to the IFRS 16 accounting standard.
Steel & Tube intend to use LOIS’ feature rich functionality to enable simple yet effective management of property, fleet and equipment leases while still maintaining a full and complete General Ledger functionality with minimal disruption to current business process.
Quadrent is excited to be working with Steel & Tube on their LOIS implementation, especially with the desire to build an efficient ongoing process. Quadrent intends to use the intuitive functionality within LOIS as well as ease of large data loads via Excel to ensure Steel & Tube can be up and running quickly.
Find out more about LOIS here.