An international telecom organisation with a portfolio of over 60,000 leases across 20 countries found manually trying to manage their leases highly inefficient and increased their chances of error.
The client utilises MRI Horizon CRE and MRI Contract Intelligence to help process over 15,000 leases and ensure International Financial Reporting Standard (IFRS 16) compliance. Horizon CRE, a cloud-based lease management and accounting platform, allows the client to easily handle their real estate challenges and complexities.
MRI Horizon CRE automatically calculated uplift in rental values, provided access to the full history of escalations for lifecycle visibility and recalculated the IFRS 16 lease accounting schedules impacted by indexation changes.
Automated indexation with Horizon CRE Automatically calculated uplift in rental values, access full history of escalations for lifecycle visibility and recalculate the IFRS 16 lease accounting schedules impacted by indexation changes.
Cleansed data with MRI Contract Intelligence
MRI Contract Intelligence enabled a comprehensive lease audit through document collation, AI abstraction, two-step verification and final delivery. This highlighted thousands of missing support documents, expired leases and more. MRI Contract Intelligence abstracted relevant data from 15,000 lease packs and 20,000 documents in under 16 weeks.
Resolved auditability issues
Live data was reconciled in the form of ‘Cost Assurance’, between data mastered in MRI Horizon and data in the lease documentation, maximising data integrity and audit processes throughout the year.
By utilising MRI Horizon CRE and Contract Intelligence products, the client was able to easily process thousands of leases as well as become IFRS 16 compliant.
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