IFRS 16 is not just a standard that impacts Finance – it’s a fundamental change to the way an organisation manages and treats its leases. In most instances, where businesses have a leased portfolio, many different people will be responsible for signing those leases, with no one department having visibility over arrangements. Without a company-wide collaborative approach where all lease data is stored within a centralised repository and is accurate and in a suitable format, achieving compliance will be very difficult.