A high quality and fully functional IFRS 16 accounting tool
friendly, simple and easy-to-use user interface while fully serving the needs for an IFRS 16 applier
SpiderPig lease accounting software is a platform-independent lease accounting tool to collect and organize your lease contracts, perform calculations and meet reporting and disclosure requirements in accordance with IFRS 16.
As entities in a group can have several ERP-systems from different vendors in their IT architecture, the ideal IFRS 16 tool needs to be able to connect different organizational units to different systems. A separate tool is therefore preferable for their wide-spread needs compared to a solution within one of the existing ERP systems.
Our aim was from the very beginning to develop a complete IFRS 16 solution for recording and maintaining lease contracts, validating the coherence of data, running all IFRS calculations, producing the necessary reporting and providing the required posting entries to SAP and non-SAP ERPs or existing group IFRS consolidation and reporting tools.
SpiderPig is a plug-and-play, pre-configured and platform independent tool that is based on PHP and MySQL technologies. It can be installed and configured in any kind of IT architectures, end user only needs a web browser to operate it efficiently. The use of these wide-spread and commonly used technologies ensures that smaller IFRS users can avoid the need to invest into a separate server, infrastructure, licenses, and facilitates the installation and maintenance of the tool. SpiderPig fits seamlessly into your current environment and enable you to easily meet IFRS 16 requirements.
SpiderPig is a plug-and-play solution that enables you to simplify the implementation of IFRS 16 for lease contracts. It is a powerful engine with a user-friendly design that automates complex calculations such as the calculation of the initial right-of-use asset and lease liability amounts, the effect of reassessments and modifications, the amount of liability arising from dismantling obligations (ARO), etc. Despite it has a full pre-configured IFRS 16 functionality, the technology offers the possibility to integrate additional custom needs and content and adjust it as needed.
SpiderPig is designed to meet all requirements related to lease accounting under IFRS 16 and has the following main functionalities: