Understanding LOIS – Flexible lease portfolio management
LOIS refers to Lease Optimization Information System and is Quadrent’s SaaS solution for Lease Management and compliance to IFRS 16. Developed alongside our partner Innervision, and with years of leasing experience within the team, this is a product that truly understands leasing.
”LOIS software helps organise leases in one place and gives direct access to every aspect of your leasing data. As new lease accounting rules come into force LOIS will help you meet all the accounting reporting requirements and is able to handle all leased asset classes and agreement types including modifications and in life changes.
Our team are lease accountant experts rather that software developers
Quadrent is the only company in the sector offering leasing expertise and an accounting solution. Coming from this foundation of accounting expertise rather than a stock standard SaaS rollout, the partnership between Innervision and Quadrent has benefited some of the largest companies across Australia and New Zealand. These companies need strong automated and controlled accounting ledgers in an easy-to-use and efficient program.
Who is LOIS suitable for?
Across APAC, LOIS has proven to be an effective lease accounting solution for companies of all sizes from a range of industries such as:
- Retail trade
- Education and training
The largest customer in the region has 7,000 leases stored in LOIS, while the smallest client has 33 leases. The largest asset leased in the region has a value of over AUD1 billion. In contrast, much smaller leases on the platform include those for technology hardware such as employee’s devices and point-of-sale systems. The average lease size due to the proliferation of property is circa $1.9m
For smaller organisations without the same volume of leases, we also offer LOISlite – a managed service offering not requiring a full software implementation.
Is your incremental borrowing rate up to date?
With the current environment in a constant state of change, it’s important to ensure your Incremental Borrowing Rate (IBR) is up-to-date and correct, especially for modifications. This will help avoid any compliance issues or balance sheet inaccuracies down the track.
If you are unsure of why an IBR is important or how to calculate it, our friends at Deloitte have put together some handy FAQs covering the what, why, when and how of IBR.