Streamline Lease Reporting with Tiego Lease Engine

  • As an introduction, we would like to conduct a demonstration on contract data in our demo database, which we can often do within 24 hours if requested

  • The result of a workshop is that you gained a unique insight into the system and that you got to know Tiego's consultants and we at Tiego got to know you and your team before a possible implementation.

  • Demo, workshop and a possible implementation follows three "blocks".
    BLOCK 1: REGISTER AND REPORTS
    BLOCK 2: INPUT DATA AND RECONCILIATION
    BLOCK 3: ANALYSIS AND INTEGRATION INTO GROUP REPORTING

DEMO

We at Tiego both want to de-dramatize an implementation and at the same time understand your group's difficulties and challenges. As an introduction, we would like to conduct a demonstration on contract data in our demo database, which we can often do within 24 hours if requested. It may also be the case that you have a quote request before a demo takes place and then we will be happy to answer it - please see examples of quote questions and answers by clicking on this link.

Before a demo, we read about your group and can already at a first meeting discuss any industry-specific experiences we have and solutions we have made in TLE, read more about such experiences and solutions by clicking on one of the links below: Our goal with a demo is to create trust for a free workshop where we read in your data after a confidentiality agreement is signed.

WORKSHOP

For a workshop, we offer to import all or a selection of your contracts into our database with basis for group bookings for your companies or subgroups. There are many good and some slightly worse Excel solutions on the market and we usually initially get close to closing balances. We know that working with Excel solutions can have been time-consuming and cumbersome, especially regarding changes after the implementation of IFRS 16, and it can be both inspiring and frustrating to see how quickly it is possible to get the information into TLE and what analytical power is available. Before a demo, we read about your group and can already at a first meeting discuss any industry-specific experiences we have and solutions we have made in TLE, read more about such experiences and solutions by clicking on one of the links below: Our goal with a demo is to create trust for a free workshop where we read in your data after a confidentiality agreement is signed.

Checklist of what needs to be sent to Tiego before a workshop (no later than seven days before the half day we have together):

• Contract information in Excel format from current solution
• Files from financial leasing providers
• Output showing group adjustments from current solution
• Company structure
• Description of work on changes to contract information
• Balances per month for rental costs in local currency for reconciliation
• Other possible facilitate Tiego in the work with the workshop Our goal with a demo is to create trust for a free workshop where we read in your data after a confidentiality agreement is signed

Two to three days before the workshop, we hold a pre-meeting where we would like you to log into the database and give feedback on the mapping of local charts of accounts to the group's dito and read the introductory sections of the documentation on web.tiego.se. We have chosen to use an analogy to karate and its gradations with different colored belts to show the most time-efficient way to gain knowledge in TLE. Click on this link to read more about this. We usually say that Tiego spends 90% of the time preparing, but you who participate need to spend 10%, or about 2-3 hours in addition to the pre-meeting and the workshop itself. The result of a workshop is that you gained a unique insight into the system and that you got to know Tiego's consultants and we at Tiego got to know you and your team before a possible implementation. We want you to feel that you are "on the runway" and already without having paid anything can have a good understanding of how much is left until the system can be implemented and you could release your current solution for IFRS 16 or K3.

STRUCTURE

Demo, workshop and a possible implementation follows three "blocks" where the focus is on block 2 "Input and reconciliation" on demo and workshop.

BLOCK 1: REGISTER AND REPORTS
A demo is carried out on Tiego's standard chart of accounts for IFRS 16 and K3 and which has its starting point in BAS 2020 supplemented with accounts needed for the purpose. If you have requirements for dimensions in the elimination, we usually spend some time on this and also mention that there is functionality to allocate per dimension with keys. We also briefly show the package available to download everything needed for the sheet music on the demo and go deeper into it at a workshop. Reports can be retrieved using our own "retrieve functionality" which can retrieve all information in the system.

BLOCK 2: INPUT DATA AND RECONCILIATION
At the demo, we show the work below in our prepared demo environment for 1.5 hours, but go deeper during the 3.5 hours we are happy to book for a workshop. We want seven days from delivery of contract information etc. (see above) and spend the majority of the time until the workshop loading contracts and matching against previously used model. It is common for us to come back with follow-up questions and possible completion of, for example, automatic extensions and notice period in order to be able to show the reminders that the system can send out to users when a contract is approaching its termination date. If you lease cars and machinery, it is often possible to get export files from the companies you lease from, which we are interested in to be able to show how we can automate updates based on these files. However, the workshop does not intend to provide a finished implementation, but to give you a very good insight into how far there is until the system can be implemented. In addition to contract information, we also read in the cost of renting premises, machines, cars, trucks, etc. per local account to TLE. With the help of this information, we can show that it is easy to reconcile whether we succeed in crediting the amounts that are posted in debit on these accounts. This analysis is often the basis for the next step in the process, an eventual implementation.

BLOCK 3: ANALYSIS AND INTEGRATION INTO GROUP REPORTING
A strength of TLE is the simplicity of doing analysis down to the contract level if necessary, which we show in the demo, go deeper in the workshop and spend a lot of time during an implementation. The system offers a number of built-in standard reports that are supplemented with the option to export detailed information to Excel, where we at Tiego have prepared overviews of profit and loss, balance sheet and cash flow analysis. These are supplemented by Pivot tables at the contract level. When you get to the end of the year, in addition to a report that shows the opening to closing balance for all balance accounts, you also need reports that show how the flow is from the closing balance for the year to eternity when all contracts expire. This report is included in the package needed for note reporting. Tiego has integrated TLE with most existing group reporting programs on the Swedish market by connecting all combinations of account and change type to so-called "Custom Group Accounts". There are a number of different variants of how the data should be loaded and we adapt to each customer during an implementation. We briefly mention a little bit about "Custom Group Accounts" in the demo, show a little more in the workshop and make sure that it works against your group reporting during an implementation.