Quadrent sends a big shout out to Powerco, one of our earliest clients and one of the first entities to adopt to IFRS 16 within Australasia.
Powerco, as New Zealand’s largest electricity distributor by geographical area and second by customer numbers and a key regulated entity, have always strived for best practice so with the changes in lease accounting they decided to early adopt by using LOIS to deliver a full IFRS 16 compliance solution.
Quadrent was excited to be involved in such an early project and by the chance to work with such a forward thinking team.
Quadrent is Australasia's leading and most trusted equipment financier and lease portfolio software provider. We enable you to deliver your technology solution via a leasing structure, and manage and report on your lease & asset portfolio for compliance with IFRS 16. Find out more about our services.
LOIS provides you with a consolidated view of all leases within your business structure and full IFRS 16 compliance, whether it be one entity or a global corporate. LOIS refers to Quadrent’s Lease Optimization Information System, which is a fully integrated portfolio and asset management tool for all your IFRS16 lease accounting compliance. We operate it under a master agreement. Plus, we’re the only supplier in Australasia. Read more about LOIS.
LOISlite is a cost effective IFRS 16 / AASB 16 solution that negates the need for internal resource and a full system, while still using a proven platform. Find out more here.
If you're interested in understanding more about IFRS 16 Compliance and LOIS, here are a couple of resources we can provide: