Summary
This case study details PUMA's implementation of Nakisa Lease Administration to achieve compliance with the IFRS 16 lease accounting standard. PUMA faced challenges due to its extensive and complex leasing portfolio, which includes over 2,200 contracts across multiple currencies. The company required a unified solution to streamline its lease accounting processes and to centralize data management for its diverse user base. The Nakisa solution was selected for its comprehensive disclosure reporting capabilities and user-friendly interface, which facilitated compliance and operational efficiency. The case study outlines the business benefits realized by PUMA, including improved visibility into lease liabilities, centralized contract data, and enhanced decision-making capabilities. The results indicate that PUMA successfully met its compliance needs on time, significantly reduced labor costs, and simplified its month-end and quarter-end closing processes. The intuitive nature of Nakisa Lease Administration has proven to be a valuable asset for PUMA’s global operations.
