Nivika

Lina Nilsson, Group Controller at Nivika Fastigheter, has witnessed the company's growth from around 40 to over 120 entities, along with increasing demands for lease accounting. In this interview, she shares why Nivika turned to Leasify to simplify IFRS 16 reporting and how the solution has enhanced efficiency in their accounting processes as the company continues to expand.

Nivika is a Swedish real estate company based in Småland, Sweden, focusing on the long-term ownership, management, and development of high-yield properties. With operations in high-growth areas with stable rental markets, the company focuses on generating long-term, profitable, and sustainable value growth.

With a property portfolio valued at over SEK 11 billion (approximately EUR 960 million) and operations in Jönköping, Värnamo, Växjö, and along the West Coast of Sweden, Nivika recognized that Excel was no longer sufficient for their lease accounting. It became clear that a new solution was needed to create structure and efficiency in their accounting work.

Challenges with the previous workflow

Five years ago, when Lina started working at Nivika, the company managed around 40 entities. Today, the business has expanded to over 120 entities, making lease accounting increasingly complex. Previously, everything was handled in Excel, with separate files for operational car leasing, financial car leasing, land leases, and equipment.

– For car leasing, we had it divided into two separate parts, which meant I often had to rely on colleagues to retrieve information I didn’t have access to myself. Since the responsibility for different agreements was spread across multiple people, it wasn’t always clear when we should sit down together and review everything, says Lina.

Working in Excel meant that each file had to be updated separately and, at times, manually consolidated into a master file. Some files, like inventory records, were outdated spreadsheets that had been passed from person to person before eventually landing on Lina’s desk. She explains:

– We simply continued following old routines. Honestly, I really like Excel and would have gladly kept everything there, but we realized it was no longer enough. The choice was easy – a system does it better.

All agreements in one place – simpler and more efficient

With Leasify, Nivika now has a tool that centralizes all leasing information in one place. The previously time-consuming process of managing scattered files has been replaced with a solution that provides both clarity and reliability in accounting.

– Having all agreements in a single system makes it much easier to stay organized and work efficiently, explains Lina.

This is how Nivika’s IFRS 16 reporting works today

A major improvement can be seen in the reporting process, which previously involved multiple manual steps and carried a risk of errors. With Leasify, the process is now both faster and more secure.

– Generating IFRS 16 reports is no longer a big deal. Everything I need is already prepared, and I can instantly spot if something doesn’t add up. With just one click, the report is ready. It saves both time and effort, says Lina.

Automated reminders and reliable support

Leasify has also simplified contract management. With automated reminders, Lina and her colleagues no longer have to worry about missing important tasks or deadlines.

– Getting reminders straight to my inbox helps us stay on top of everything. It not only saves time but also reduces costs, which is especially valuable as our business continues to grow.

Another key benefit Lina values is Leasify’s support:

– Issues tend to arise when things are already stressful. In those moments, getting quick and clear assistance makes a real difference.

– We highly recommend Leasify. We rely on it for our IFRS 16 reporting, and it delivers exactly what we need – detailed reports and supporting documentation, ready in an instant, concludes Lina.