Gloria Jeans automated the reporting under lease of shops in Russia

On October 9, 2020 the ADE Professional Solutions company announced that it automated the reporting under lease of shops in Gloria Jeans.

One most essential cost categories of the company lease of premises is. At the retailer a system for accounting of lease and the related calculations was implemented, however because of emergence of the new standard it ceased to meet all requirements of accounting. To automate process of preparation of the reporting regarding accounting of lease according to the International Financial Reporting Standard (IFRS 16), Gloria Jeans began work on search of a new solution.

As the platform meeting requirements of business the Anaplan system which is applied to the solution of other tasks in Gloria Jeans was selected. Its main functionality comes down to calculation of lease payments on the basis of the financial conditions which are contained in uniform corporate base of a lease term.

As integrator in the project the ADE Professional Solutions company acted.

As a result of implementation were automated creation of the payment schedule according to "IFRS 16: Lease" and calculation of all necessary indicators shown by the standard and also charge of rent expenses for the rules of management accounting admitted to the companies.

Start of a system in commercial operation allowed to unify and standardize a lease term for automation of calculations more than on 2.5 thousand documents of lease for nearly 600 shops in 4 countries on 3 different methodologies.