Nomos one Reviews

“Budget-friendly and simple

Pros

It is very easy to use and customize reports. Plus I also find the price quite reasonable.

Cons

There is nothing I dislike about Nomos One as it includes all the features we need.

“Didn't really work out for me

Pros

Well it does not fully meet our needs for managing tenancy and lease data as required.

Cons

The front page lacks a summary of tenancy and leases like total monthly rent payable which if available, I feel like would be helpful.

“Reliable tool

Pros

Automated lease accounting and management make things much simpler for us.

Cons

Reporting does not allow consolidation across multiple legal entities which I take as a limitation.

“Easy to learn and use

Pros

The system is easy to understand and the thing I like the most is that there are helpful videos available for new users.

Cons

Well I feel like IFRS16 modification process before lease renewals could be improved.

“Does a decent job

Pros

Integrating this into our business was smooth and the onboarding team did a fantastic job.

Cons

Since we provided all the documents upfront I feel the Nomos One team could have prepared the assumptions template for us.

“Quite a good tool

Pros

We use daily calculation reports including CPI and market review calculations. It all work well for us.

Cons

Old reports cannot be stored. For example after June 2022 ends, we cannot save lease liabilities or other reports. Plus if changes are made to leases and you re-run reports, you get new numbers instead of historical data.

“Can't complain as it is great all around

Pros

Without Nomos handling our IFRS16 reporting would have been impossible. We tried spreadsheets but it quickly became overwhelming. Nomos offered a great solution with excellent implementation and after-sales support. Whenever we face issues they analyze and provide the right fix quickly usually the same day or overnight due to time zones between Australia and New Zealand.

Cons

I believe the system really needs a firm period-ending process to fully complete the product's functionality and ensure accurate reporting.

“One-stop shop for lease accounting

Pros

The Nomos One team provides top notch customer service which makes implementation and daily support easy to access. Plus the software covers all the functions we needed for lease accounting disclosures and accounting requirements.

Cons

Well the switch to a new engine for lease calculations caused some older reporting features to disappear which caused issues for us. Though they plan to bring them back later.

“Helped our business in a big way

Pros

We really like Nomos One for accounting, tracking leases that are expiring, near due or overdue. Also the reports are very useful and form part of our schedule. Leases are simple to set up and adjust as needed. Most importantly their customer service is very helpful whenever we have problems.

Cons

Nomos One generally works best on Chrome and not on Internet Explorer or Edge, so my advice to the users is that keep Chrome updated all the time.

“Good one!

Pros

It really simplifies managing a large number of leases and has solved our IFRS 16 challenges.

Cons

I have nothing negative to mention as it is a great product.

“Works for properties but not for IFRS16 needs

Pros

Customer support is excellent and always available when we need it.

Cons

There are several system limitations affecting both IFRS16 reporting and lease management which makes me come to the conclusion that the product is not fully suitable for all purposes.

“Product's great and so is the team

Pros

The team is very helpful, the product is very much affordable and the thing I like the most about it is that it is well-recognized in the market.

Cons

Honestly initial setup takes a lot of time. So I think it would be great to pay for extra help to ensure everything is captured correctly.

“Everything about it is great

Pros

I personally think it is a complete solution for contract management that incorporates the latest IFRS16 tax requirements.

Cons

Whenever we find inefficient features, Nomos actively works on updates and proactively offers better solutions or improved reporting. So nothing too major to complain about.

“Quite user-friendly

Pros

The software is use friendly and I like the fact that information is presented clearly.

Cons

It does not automatically adjust for changes made in the current month which frustrates me.

“Good but could be better

Pros

There are quite a few things I like but the thing that stands out is that customer service and system support are great with timely responses.

Cons

Reporting functions need improvement. For example the advanced custom agreement report cannot be saved and additional fields like discount rates should be added. Plus I feel like adding a budget function would be a great enhancement.

“Wastes time!

Pros

It offers exceptional management capabilities for property portfolios and lease agreements, streamlining all our processes involved.

Cons

Accounting and reporting capabilities are limited. Plus we cannot download reports directly and have to contact Support for everything which wastes a lot of time.

“Does the job but lacks in some areas

Pros

I find it pretty easy to use and offers quick customer support. Plus some consolidated-level reports are quite good too.

Cons

Reports should offer detailed individual-level info and when balances change from one month to another due to system updates, I think users should get notified like about the new engine change.

“Kind of hit or miss

Pros

What I like the most about it is that it is designed with simplicity in mind which makes it very easy to use or you can say beginner-friendly.

Cons

Twice we found errors in lease accounting calculations despite entering correct data. Plus glitches in the software caused incorrect numbers so we have to manually check Nomos One reports for accuracy which eats a lot of our time.

“Covers lease work from A to Z

Pros

The website is easy to navigate and helps keep track of all leases and calculate basic lease information for us without issues. Also extracting reports including journals for posting is very helpful too.

Cons

While it has many great features but at times it sends too many notifications about CPI reviews, annual reviews and expired leases which annoys me a little.

“Just fine!

Pros

Well month-end financial reporting is smooth and not an issue for us anymore and all credit goes to this platform.

Cons

There is no hard close function, so data can be changed retroactively which I didn't find ideal.