ValuD: What is TRIMAX and why should you attend?


Conferences and trade shows provide a great way to learn and discover industry trends in a short period of time. Please consider attending TRIMAX this year…

What is TRIMAX?

TRIMAX is an annual conference which provides a forum for participants to share knowledge and learn from other TRIRIGA and Maximo clients, business partners and IBM leaders. If you are a RE/FM/EAM business, then TRIMAX is the event for you. This year’s event is being held at Arlington, VA on November 29th and 30th with an optional training day on December 1st. More than 600 participants are expected to attend the various presentations and sessions.

Why attend TRIMAX?

IBM TRIRIGA and IBM Maximo are leaders in asset management and IWMS application software and TRIMAX is the only user group with a combined focus for both. Naturally, such a focused user group can give you insights on product updates, solution road maps, and industry best practices…

ValuD and TRIMAX

With the largest and most experienced group of TRIRIGA consultants in the world, ValuD has been an active participant of TRIMAX since its inception. This year, our sessions will showcase MobilD, our mobility solution built exclusively for TRIRIGA

  • “TRIRIGA Mobility Solution (MobilD) Tailored to Drive Work Efficiency – A User Perspective” | Speaker: Kiel Schmitz, ValuD | Wednesday, Nov. 29, 2017, 1:10 PM – 2:00 PM
  • “New Capabilities of TRIRIGA FASB/IASB & Advanced Lease Accounting” | Speaker: Kirk Howcroft, ValuD | Friday, Dec. 1, 2017, 8AM – 3PM

[Admin: This post is related to the 07.18.17 post about ValuD at TRIMAX 2017, the 07.28.16 post about mobilizing IBM TRIRIGA, and the 11.15.17 post by IBM IoT about TRIMAX. To see other related posts, use the ValuD tag or MobilD tag.]

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Tango: Tailored Brands selects Strategic Store Lifecycle solution


Tailored Brands, Inc., a recognized leader in men’s tailored apparel operating over 1,400 locations in the U.S. and Canada, has selected Tango’s Strategic Store Lifecycle Management Solution to facilitate all aspects of their real estate strategy and store development activities needed to support growth of the company’s iconic brands, including Men’s Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. Tailored Brands has licensed Tango’s Market Planning & Site Selection, Program & Project Management, Lease Administration and Facilities Maintenance products…

An important consideration for Tailored Brands was ensuring compliance with the new lease standards put forth by FASB. Tango’s lease accounting software is unique in the marketplace, in that unlike other solutions that will require retrofitting to ensure compliance, Tango’s lease accounting functionality was developed with compliance as part of the foundation…

[Admin: To see other related posts, use the Tango tag.]

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Webinar: ValuD best practices of implementing TRIRIGA for FASB


Webinar: Thursday, September 14, 2017, 12:00 PM – 1:00 PM Eastern Time

Join ValuD’s Lease Accounting expert team in their Sept 14th webcast for “Best Practices of Implementing TRIRIGA for FASB Compliance” and get prepared to meet your FASB compliance deadline. Register here.

[Admin: The same announcement is also posted in the LinkedIn group. To see other related posts, use the ValuD tag or FASB tag.]

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ValuD: Six major enhancements for lease accounting in TRIRIGA 10.5.3


Let’s review the six major enhancements for advanced lease accounting…

  • 1. Period end close capabilities. TRIRIGA 10.5.3 delivers “Advanced Lease Accounting Period Close” which ensures that no additional journal entries can be posted for that closed period…
  • 2. Enhanced segregation of duties. With IBM TRIRIGA 10.5.3, the roles and responsibilities of Lease Accountant and Lease Administrator have been clearly delineated…
  • 3. Streamlined modification processing. A revised process for recording lease modifications has been introduced in this version which supports FASB/IFRS compliance and creates a single process flow for all modifications…
  • 4. Disclosure requirements templates (quantitative metrics). IBM TRIRIGA 10.5.3 comes pre-loaded with a variety of OOB report templates which support FASB/IASB lease accounting compliance…
  • 5. Journal Entry Configuration Framework. With capabilities to generate Journal Entries for ASC 840 and ASC 842 under US-GAAP, as well as for IAS 17 and IFRS 16, IBM TRIRIGA 10.5.3 practically transforms the Real Estate Manager module into a sub-ledger system for Real Estate and Asset Lease Accounting…
  • 6. Simplified ERP Integration (Data Transfer Object). IBM TRIRIGA 10.5.3 simplifies the process of transferring the lease accounting data into your ERP system by creating a Data Transfer Object (DTO) file that loads into the ERP General Ledger…

[Admin: To see other related posts, use the ValuD tag.]

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Where are the latest lease accounting videos?


This wiki lists our lease accounting videos. The IBM TRIRIGA Lease Accounting team presents the key features and enhancements of our lease accounting tools from 10.5.0 through 10.5.3.1, including partial payments, FASB/IASB setup, ASC 840/842, GAAP/IFRS leases, and index adjustments.

[Admin: This post is related to the 02.22.16 post and 09.29.14 post about finding information on TRIRIGA lease accounting. To see other related posts, use the Leases tag or Accounting tag.]

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Verdantix: Accruent continues its acquisition spree with Lucernex


On 9 August 2017, real estate, facilities and asset management software provider Accruent announced it has acquired Integrated Workplace Management System (IWMS) vendor Lucernex. Genstar Capital-backed Accruent plans to use this latest acquisition to target emerging lease accounting opportunities, as the major accounting boards FASB and IASB require organizations to bring all leases on the balance sheet in 2019. This follows a furor of acquisition activity by Accruent, with its 2016 purchases of BIGCenter, Mainspring Healthcare Solutions, and Verisae

Accruent now owns a roster of industry-specific and specialist software solutions for managing real estate and facilities. As it runs a product integration program through to 2018, it is positioned to provide a platform that is not only broad but also offers a lot of depth and industry-specific functionalities. With prominent IWMS vendors fighting to deliver the most complete software for real estate and facilities life-cycle management, all eyes should be on how well Accruent manages to integrate its various software solutions into a powerhouse IWMS platform…

[Admin: This post is related to the 08.01.16 post about CAFM, CMMS, EAM, and IWMS competitors. To see other related posts, use the Verdantix tag.]

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How does TRIRIGA tackle 2019 lease accounting change implications?


Are you getting ready to address the implications of the new lease accounting changes with TRIRIGA? Although FASB’s ASC 842 and IASB’s IFRS 16 will take effect in 2019, many organizations are only now beginning to realize the amount of effort required to meet the new standards…

The biggest changes to businesses will be the new Right of Use (ROU) Assets and Lease Liabilities that will hit balance sheets, as well as the intensely manual approaches and effort that many see before them. How many organizations are leveraging Integrated Workplace Management Systems (IWMS) to manage their real-estate holdings and automate these manual efforts?…

In order to help organizations comply with the new standards, and understand the implications of these changes, TRIRIGA continues to deliver a single integrated workplace management system with new enhancements in the next release. TRIRIGA supports the lifecycle of facilities management and will automate compliance activities to address changes that affect multiple teams and roles.

Here’s how TRIRIGA can help:

  • CFO and CAO: The release of IBM TRIRIGA 10.5.3 will provide a sub-ledger system for real estate and asset lease accounting that is able to generate journal entries out-of-the-box for ASC 840 and ASC 842 under US-GAAP as well as for IAS 17 and IFRS 16. It also covers period closings and report generation for the most common reports required under the new standards.
  • Real Estate and Fixed Asset Managers: The release of IBM TRIRIGA 10.5.3 separates the duties of a lease administrator and a lease accountant, allowing the lease administrator to enter contractual information, and then enabling the lease accountant to run classification tests, reassess lease decisions, and report on the ROU Asset and Lease Liability.
  • Facility Management, and Occupants: There are also new capabilities to improve day-to-day and occupancy experience. They can leverage a new Workplace Services offering that engages everyday employees through new mobile web apps that provide access to services managed by IBM TRIRIGA, anywhere, and on any device. This includes: a new Service Request app to submit work requests, a new Reservation app to quickly create reservations for individual workspaces or multi-attendee meeting rooms, and a new location-aware Workplace Services Portal to provide a single, unified access point for launching the apps and tracking status of requests…

[Admin: To see other related posts, use the FASB tag or IFRS tag.]

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