As we close out 2016, it’s exciting to look back and see the tremendous growth we’ve had this past year. From launching MobilD, the latest in IBM TRIRIGA mobility, to expanding our offerings with Maximo and the Internet of Things, we have strengthened our presence across the industry. Each milestone has been a part of ValuD’s long-term vision to expand our offerings beyond IBM TRIRIGA as we continue our journey to become the premier IBM partner offering IWMS, EAM and IoT solutions…
As we enter into 2017, we share our highlights from the past year:
The investment in Motors@Work: We began the year by venturing into the Internet of Things (IoT) – one of the hottest areas in the industry today. ValuD invested in Motors@Work LLC, a pioneer in motor and pump-driven system energy optimization and has provided product development, marketing and sales services. Motors@Work™ is a multi-tenant, SaaS solution that leverages Department of Energy best practices and patent-pending technology to optimize motors and pumps performance and helps customers save up to 30% in energy costs. With our December release, we have greatly increased the capabilities of the solution, including pre-built integrations with Maximo and the IBM Bluemix / Watson IoT platform…
We launched MobilD (Mobility Delivered), which was designed exclusively for IBM TRIRIGA. Developed by our in-house engineers at ValuD, MobilD bridges the gap between field work and desktop use with features like Self-Service Requests, Approvals and Work Order Management. We have already successfully deployed our mobility solution and welcome the opportunity to set up demos for you or your clients…
The growth of our educational offerings: ValuD has had an exceptional year with our educational initiatives with clients taking advantage of our training breadth. Some notable training clients include Pfizer, Johns Hopkins University-Applied Physics Lab, Flextronics, and Microsoft. Our new Lease Accounting course is in high demand. The two-day course is geared towards Lease Administrators and Lease Accountants who want to better understand and use the system given the new FASB standards. ValuD is looking forward to continuing its reputation in 2017 as the IBM TRIRIGA Training Academy with exciting new offerings on the horizon…
If a parent building has been renamed, a localized user cannot find that parent building in the lease by searching for it. You may test directly in Portfolio > Locations and may be able to find that for a localized user, the name of the building is modified. But that change does not flow to the column named “Building”. That is ultimately the building name used in the query inside the Lease record…
The root cause is that the query that displays the list in Portfolio > Locations is “Location – Manager Query – Manage By Hierarchy”. The field that is displayed in the column labeled “Building” is triParentBuildingTX. In the Data Modeler for Location > triBuilding, the Localizable property for triParentBuildingTX field is not selected.
I found two “ghost” entries for (blank) lease records in TRIRIGA without any Status recorded or ID assigned. When I open the record, I can still see the “Create Draft” button on the record. Has anyone seen this situation?
Typically, these are records that were deleted by some process, but have not been fully removed by the Cleanup Agent yet. Usually, the application filters these out of the query views, but sometimes, for various reasons, they show up in queries as a blank row.
KPMG Spectrum’s “Leasing Tool” embeds the firm’s accounting expertise into innovative digital compliance platform
A deadline is looming for companies to comply with new Lease Accounting Standards. The changes introduced by the Financial Accounting Standards Board will require companies to account for most operating leases on their balance sheets as early as January 1, 2019. The new rules will have a significant impact on any business that has commercial leases. Yet, findings from a KPMG survey suggest that companies are vastly underprepared. Of the companies surveyed, 92 percent say they will need to implement a new IT system but 81 percent say they haven’t started.
Businesses are running out of time, but KPMG has created an innovative solution. The KPMG Leasing Tool for IBM TRIRIGA (KPMG Leasing Tool) helps organizations efficiently prepare for and adopt a longstanding system to comply with the new leases standards…
[Admin: This post is related to the 08.12.15 post about the KPMG Leasing Tool for IBM TRIRIGA.]
It is important to note that public companies must include at least 3 years of information in their financial statements to meet the new FASB leasing standards. That means, if your organization has a substantial lease portfolio, you will need to effectively transition your accounting process in 2016 itself to become fully compliant by 2019, which is when the FASB leasing standards are set to apply…
As can be seen from the process overview, implementation of a new lease accounting software comes with its own share of operational challenges, not to mention the vast amount of time involved. It’s estimated that the entire process — from data gathering to deployment — might take as many as 24 months, thereby making the choice of a lease accounting system all the more significant right now. It’s also incredibly important that you find a trustworthy implementation team who can help spearhead the complex task and usher your organization toward FASB compliance.
At ValuD, our team has worked with multiple clients to prepare them for the shift in lease accounting standards. We fully believe that the industry-leading IBM TRIRIGA can provide the perfect solution for all matters related to FASB compliance. Our experts at ValuD are ready to help you through the entire process and ensure that you are on track for your FASB compliance goals…
Non-admin users that are in a group with full access to a lease are finding that sometimes they are able to view the “Download” option for documents present in a service contract’s “Notes & Documents” tab, but not other times. The problem seems to be a result of the User Permission and Group Permission sections in the “Permissions” tab of the document being missing for downloads. Once user and group information for security group access is added, the “Download” option becomes available.
This problem appears when you have at least 2 non-admin users, both in a group with full access to lease. If user #1 uploads a document to the lease and user #2 opens the lease and wants to download it, user #2 can’t since no “Download” link is present. When document permissions are examined, user #2 has no access to the download option.
As a temporary fix, modify the document’s “Permissions” tab and provide download access at the user and/or group level to the user that is unable to download… A new property ENABLE_AUTO_DOWNLOAD_ON_DOCUMENT_PREVIEW has been added to TRIRIGAWEB.properties. This property enables or disables the legacy auto-download behavior on the document record preview tab. With it enabled, it will bypass the download permission in Document Manager, and the preview tab will behave as it did before.
[Admin: This post is related to the 10.24.15 post about skipping the Notes & Documents login credentials.]
When the first lease payment date is prior to 1970, the generation of the schedules will cause records to be generated well beyond the number of expected records as well as creating duplicates.
As a temporary fix, create individual payment records for those dates prior to 1970. Note that this can be quite cumbersome if the legacy lease dates are significantly further back in time than 1970. We needed to check if the date is the smallest allowed in SQL Server, “01/01/1753”. Oracle and DB2 allow dates as small as 01/01/0001. Moving forward, we fixed a long-standing issue when creating leases with dates prior to 1970.