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Steel & Tube sign with Quadrent's lease accounting software LOIS

Quadrent, providers of the LOIS SaaS lease accounting platform, are pleased to announce that Steel & Tube, New Zealand’s leading provider of steel solutions, has elected to use the LOIS solution for their transition to the IFRS 16 accounting standard.

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Steel & Tube intend to use LOIS’ feature rich functionality to enable simple yet effective management of property, fleet and equipment leases while still maintaining a full and complete General Ledger functionality with minimal disruption to current business process.

Quadrent is excited to be working with Steel & Tube on their LOIS implementation, especially with the desire to build an efficient ongoing process. Quadrent intends to use the intuitive functionality within LOIS as well as ease of large data loads via Excel to ensure Steel & Tube can be up and running quickly.

Quadrent is Australasia's leading and most trusted equipment financier and lease portfolio software provider. We enable you to deliver your technology solution via a leasing structure, and manage and report on your lease & asset portfolio for compliance with IFRS 16. Find out more about our services.

LOIS provides you with a consolidated view of all leases within your business structure and full IFRS 16 compliance, whether it be one entity or a global corporate. LOIS refers to Quadrent’s Lease Optimization Information System, which is a fully integrated portfolio and asset management tool for all your IFRS16 lease accounting compliance. We operate it under a master agreement. Plus, we’re the only supplier in Australasia. Read more about LOIS.

LOISlite is a cost-effective IFRS 16 / AASB 16 solution that negates the need for internal resource and a full system, while still using a proven platform. Find out more here

If you're interested in understanding more about IFRS 16 Compliance and LOIS, here are a couple of resources we can provide: