IRIS Lease Accounting Reviews

“Great implementation

Pros

The software was easy to implement and use. The reports provided were comprehensive, offering all the necessary information with only a small amount of manipulation required to meet IFRS16 reporting and disclosure needs.

Cons

While the software features have grown over time, we have had to implement a few workarounds until certain features became available.

“Straightforward and effective

Pros

Great support during implementation. They were happy to address all of my concerns and questions and also the system is simple and effective for Finance, ensuring that IFRS16 accounting is accurate and fully auditable.

Cons

It's not possible to adjust the financial calendar after the initial setup and English quarters must be entered manually.

“Really happy with our experience using this

Pros

Very user friendly and visually appealing, which made the rollout and training much more efficient. The helpdesk is easy to use and response times are excellent.

Cons

Not all features were available at first and there are still some not ready like sublease/lessor accounting. There are also some restrictions like only specific modification dates being available in the In Life Change section.

“Amazing reporting capabilities

Pros

The Excel reports are fantastic. They are easy to follow and contain all the financial information required across all areas of finance and the information worksheet gives readers a complete understanding of each lease.

Cons

There are two things I believe should be updated to make this the perfect product: First one is that back posting should be restricted in the Excel reports from an accounting standpoint and second one is that the subleases need to be accounted for.

“Simple yet powerful

Pros

Simple to master and the outputs deliver all the necessary information in a clear and concise format.

Cons

I think handling speed between screens could be improved.

“Solid system to rely on

Pros

I like the system because it's intuitive and very user friendly. The reports provide more than enough information and streamline our monthly reporting process, since we switched to this system, we have had no issues and reporting now takes a fraction of the time compared to our previous system. Their customer service is outstanding and I have already built a solid relationship with them.

Cons

The cost might be a bit high, though it's worth it considering how much easier it has made everything. It's more expensive than other software we used previously but it's far less stressful.

“Great value for what you pay

Pros

So easy to use and the deployment process and continuous support are all great features.

Cons

There is no direct link to the ERP platform, which would be a helpful addition.