ZenTreasury together with their local partner MCA provide Redington Gulf with Lease Accounting Software for IFRS-16

Back in 2019 a need for a dedicated Lease Accounting software arose when Redington Gulf (a subsidiary of Redington India), among the leading supply chain solution providers in the Middle East, Africa, Turkey (via Arena Bilgisayar) and the CIS region, was faced with the new IFRS 16 regulation. They reached out to their auditing consultants at MCA who then recommended ZenTreasury.

“We were more satisfied with the software from ZenTreasury than our other options because it’s very simple. You don’t need to store data on multiple platforms and import it from multiple sources. Everything is done on one site.” Says Senthil Murugan, the Assistance Manager at Redington.

With great support from MCA, ZenTreasury provided Redington with an IFRS-16 solution to manage their leases to comply with the new IFRS-16 standard. They were not only supported extensively to ensure a smooth implementation of the solution but was also had the necessary knowledge relating to the lease notes and output for Redington to be able to maximise the usability of this solution.

The immense usability of this solution from ZenTreasury made for a smooth transition period for Redington.

“In my experience, it’s been more user friendly. We can also very easily approach ZenTreasury or MCA for additional support for usability if we need to.”, says Senthil.