— Reference
Lisa Implementation at Miltenyi Biotec
Lease Accounting - fast, secure and transparent
Initial Situation
Creating an automated, transparent leasing process
Miltenyi Biotec, like many companies across all industries and sizes, originally managed leases with an MS Excel-based solution. Over time, however, more and more challenges arose from its use: The calculation and mapping of contract changes, which could only be automated to a limited extent, were accompanied by a high level of manual effort. In the process, this led to an increased susceptibility to errors. Creating the IFRS 16 notes on this basis was only possible with many intermediate steps. Miltenyi was therefore looking for a solution for recording, calculating, and preparing the notes to the financial statements for leasing contracts in 15 different countries. The desired solution should map the entire leasing process transparently and automatically, preferably without any manual intermediate steps. This solution is called LISA.
Challenges
Migration concept that uniformly maps contracts
The project environment presented a special challenge during the LISA implementation. This is because Miltenyiimplemented the SAP-add-on remotely with the support of IKOR during the COVID-19 pandemic.
Existing leasing contracts had to be migrated to LISA in various ways. Although not all Miltenyi companies are integrated in SAP, they also had to be mapped completely and correctly in LISA. In addition, the leasing contracts of the individual companies had previously been represented differently in SAP, as the final balance sheet and income statement results were only merged in a consolidation tool. Since LISA posts to SAP financial accoutning as a leasing sub-ledger, IKOR developed a migration concept tailored to Miltenyi’s specific requirements.
With the use of an SAP-integrated add-on, we expect not only better documentation but also increased transparency and greater security in data quality and the calculation of leasing components. LISA fulfills all of these requirements. In addition, we benefit from a better exchange with our regional colleagues. Our workflows are automated and much more professional. Lease accounting is now much more efficient.
Major Successes
Complete mapping of the leasing process through an SAP-integrated solution without interface
Easy recording and reliable calculation of contract changes
IFRS 16 Notes - tailored to customer-specific requirements
Remote project implementation
Solution
Lease accounting comprehensibly integrated into SAP
The project was carried out successfully and on schedule through regular online coordination. In virtual meetings, the project participants planned milestones and regularly coordinated intermediate steps. They worked out concepts in workshops.
Migration to LISA was easy: Miltenyi companies that are not connected to the SAP system were integrated into the add-on via statistical company codes and thus undergo the same process as all other SAP companies. The effects on the balance sheet and income statement in SAP financial accounting, including asset accounting, are now equally comprehensible for all companies due to the migration concept.
LISA automatically and reliably calculates line items for the recorded contracts on the asset and liability side and posts them directly to SAP without an interface. Contract changes can be mapped via LISA with just a few clicks. Flexible customizing enables the notes to be created according to the customer's own requirements and prepared for publication in just a few steps.
"With LISA, lease accounting takes place without interfaces in SAP. Contracts are recorded via defined, global processes, posted by LISA and summarized in a report. Every step is transparent and enables efficient, professional representation of the IFRS 16 standard"
Celina Rüting ist Project Manager and Crew Lead at IKOR Products
Outlook
Integration of regions in the leasing process
In February 2022, LISA went live and the transition to operational support took place. During the second half of the year, Miltenyi will roll out its leasing process to the individual regions. The predefined process and tailored training will enable regional managers in Europe, Asia, and North America to implement LISA easily.
Contact Person
Miklós Hegybiró
Managing Director
IKOR Products GmbH
products@ikor.one
+49 40 8199442-0
Celina Rüting
Project Manager & Crews Lead LISA
IKOR Products GmbH
info-products@ikor.one
+49 40 8199442-0