Transitioning to the cloud doesn’t have to be a lengthy or complex process. With Nakisa, businesses can migrate to the cloud seamlessly in under 30 days. In this post, we’ll break down how organizations can smoothly make the move, unlocking new features and driving greater efficiency in their lease accounting processes.

The Need for an Enterprise-Grade Cloud Solution

In today’s fast-paced business world, change is constant, and staying ahead of the competition requires decision-ready insights. To achieve this, enterprises need dynamic systems that are cloud-connected and capable of delivering real-time data. Nakisa’s cloud-native Lease Administration solution offers a comprehensive, enterprise-grade solution to meet evolving business needs while providing flexibility and scalability.

Nakisa Lease Administration: A Cloud-Native Accounting Tool

Nakisa Lease Administration is a robust, cloud-native tool designed to streamline lease accounting for organizations of all sizes. With frequent updates and ongoing enhancements, it’s trusted by global enterprises to manage complex lease portfolios and ensure compliance with various accounting standards.

Unlocking Key Features with Nakisa Cloud

By migrating to Nakisa’s cloud platform, your organization gains access to powerful features that automate and simplify lease accounting processes. Some exclusive benefits of using the Nakisa Cloud platform include:

• Posting Automation: Automatically post all monthly transaction types in bulk, apply posting reversals, and pre-schedule month-end postings to save time.

• Internal Controls: The system offers an audit trail for both the front and back ends, supporting IT General Controls (ITGC) and SOX compliance.

• Disclosure Reports: Enhanced disclosure reports allow for detailed financial transparency, including currency translation and dynamic filtering.

• Month-End Process Tools: Automate report generation and gain additional insights through tools like Activity Analysis and GL Balance/Period Posting Status reports.

• Mass Modifications: Modify multiple leases simultaneously with built-in validation for extensions, terminations, indexations, and payment adjustments.

Driving Connectivity and Scalability with Nakisa

Nakisa’s API-based architecture ensures seamless integration with your existing enterprise resource planning (ERP) systems. Whether you’re managing a large volume of leases or processing vast numbers of financial postings annually, Nakisa Cloud can handle it with ease. The platform can support:

• Lease administration for up to 1 million contracts

• Processing up to 200 million financial postings per year

• Integration with up to 45 different systems simultaneously

How JBS Successfully Transitioned to Nakisa Cloud

JBS, a global leader in food processing with over 12,000 contracts across real estate, transportation, and manufacturing equipment, faced challenges managing its leases with static, on-premises solutions. The company needed a more flexible and scalable solution to meet global compliance standards. After evaluating several options, JBS chose Nakisa Lease Administration, citing its comprehensive cloud-native capabilities as the ideal solution to manage its complex leasing operations.

Key Steps for a Successful Cloud Migration

To ensure a smooth migration, Nakisa recommends the following best practices:

• Engage End-Users Early: Involve system end-users during the testing and validation phases to ensure that the solution meets their needs.

• Communicate Effectively: Maintain clear lines of communication between the project team and all stakeholders throughout the migration process.

• Embrace Cloud Synergies: Identify and eliminate inefficient processes while taking full advantage of the cloud’s scalability and flexibility.

The Nakisa Cloud Platform: A Path to Seamless Migration

For many organizations, the idea of migrating to the cloud can bring up concerns around cost, value, security, and the potential fatigue of undertaking a complex software project. Nakisa addresses these concerns by offering a comprehensive cloud platform that includes:

• Data Center Hosting and Infrastructure Management

• Disaster Recovery as a Service (DRaaS)

• Identity and Access Management

• Cybersecurity Features (e.g., firewalls, TLS, and ACLs)

• Migration Tools for On-Premises Systems

• Native Connectors to SAP and other ERPs

Migrating in Six Simple Steps

Nakisa makes the cloud migration process simple and efficient. Once your organization is ready to transition, the Nakisa team will guide you through six easy steps:

1. Transition your on-premises system to read-only mode, while the data is exported to a cloud staging environment.

2. Prepare integrations in the cloud staging area, allowing your team to test the system.

3. Validate the system and data with administrators and end-users.

4. Once validated, create a cloud production instance, integrating the necessary systems.

5. Conduct final testing in the production environment and generate reconciliation reports.

6. Complete your cloud migration in less than 30 days!

Conclusion: Migrating to the Cloud Made Easy

Nakisa’s cloud platform enables a seamless transition, unlocking new efficiencies and improving your lease accounting processes. With enhanced features, greater scalability, and robust security, the Nakisa Cloud solution helps organizations drive productivity and stay ahead of the competition. Whether you’re managing a global lease portfolio or improving month-end processes, Nakisa makes the journey to the cloud quick and easy.