Uncover how our Alteryx-powered automation solution brought unmatched speed and consistency to the client’s IFRS 16 lease workings.
The client, a global audit and advisory firm, faced significant inefficiencies in its IFRS 16 lease accounting process. The traditional approach was heavily manual, requiring auditors to extract lease terms, perform complex financial calculations, and build audit-ready schedules—typically using Excel. Each lease file consumed 1.5 to 3 hours, and this manual effort was further complicated by the diversity of lease structures across clients. This increased the chances of errors and inconsistencies. The growing need for speed, accuracy, and compliance under IFRS 16 standards made it clear that the existing process was unsustainable without a robust automation solution.
As the client struggled with time-consuming and error-prone lease calculations during audit season, Difinity Digital identified a strong opportunity to intervene. Leveraging our understanding of how Data Analytics works, combined with Alteryx and financial expertise, we proposed a solution that could handle complex lease structures, accelerate turnaround, and ensure IFRS 16 compliance with minimal manual input.
The client’s lease accounting process under IFRS 16 was highly manual, requiring auditors to extract data, perform complex calculations, and build schedules in Excel—taking up to 3 hours per file. The variation in lease terms across clients added to the complexity, increasing the risk of errors and making it difficult to scale during audit season. Ensuring accuracy, compliance, and efficiency under these conditions was the core challenge.
Difinity Digital developed a fully automated IFRS 16 lease accounting workflow using Alteryx to address the client’s manual and time-consuming process. The solution is input-driven, requiring only essential lease parameters such as lease term, discount rate, and payment schedule. It automatically calculates the Right-of-Use (ROU) asset amortization and depreciation, lease liability breakdowns, as well as interest and present value of lease payments. The workflow outputs fully formatted, audit-ready schedules compliant with IFRS 16 standards. Designed for scalability, it efficiently processes large volumes of lease data across multiple clients with minimal manual intervention, eliminating errors and significantly reducing processing time.
“This project was a clear example of how Data Analytics and Automation can transform complex, high-risk financial processes into scalable, accurate, and efficient workflows. By leveraging Alteryx, we were able to simplify IFRS 16 lease calculations, standardize outputs, and eliminate manual effort—without compromising compliance or quality. It’s been rewarding to see the impact this solution has had on our clients’ operations during their busiest audit periods.”
Manu George Michael, Director, Difinity Digital
–from Execution Team