IFRS 16 compliance is rarely a one-off exercise for asset-intensive businesses. When lease portfolios change frequently, the real challenge is maintaining control without consuming finance capacity or creating pressure around reporting and close.
That was the reality facing C3 Limited as lease activity increased across its operational asset base.
Client Overview
C3 Limited is a provider of product handling and logistics services, with operations supporting forestry and general cargo operations across New Zealand and Australia. The business operates in asset-heavy environments, with a significant portfolio of leased operational assets supporting on-wharf and off-wharf activities.
The scale and operational nature of the business require the finance function to maintain accurate, timely lease accounting while responding to frequent changes across the portfolio.
The Challenge
C3 Limited’s finance team relied heavily on spreadsheets to manage IFRS 16 lease accounting across a frequently changing lease portfolio.
Lease modifications occurred monthly, and each update required significant manual effort to adjust calculations and reporting. Quarterly reconciliation and reporting added further pressure, particularly as the business approached year-end.
Specifically, the team faced:
- Frequent lease modifications requiring repeated recalculation
- Spreadsheet-driven processes that were time-consuming and difficult to maintain
- Lengthy processing times for quarterly lease updates
- Limited ability to respond quickly to reporting and reconciliation requirements
- Tight year-end timelines with little margin for delay
The process was compliant, but not scalable. As lease activity increased, so did the strain on the finance team.
How OneTouch Leasing Addressed the Challenge
C3 Limited implemented OneTouch Leasing to replace manual, spreadsheet-based lease accounting with a centralised and automated solution aligned to IFRS 16 requirements.
The platform enabled the finance team to:
- Manage frequent lease modifications efficiently within a structured system
- Automate IFRS 16 calculations, reducing reliance on manual spreadsheets
- Centralise lease data to support faster reconciliation and reporting
- Generate reports instantly, removing the need for manual consolidation
- Implement the solution quickly, with minimal disruption to year-end processes
The system was implemented in just two weeks, allowing the finance team to transition away from spreadsheets ahead of critical reporting deadlines.
Results and Impact
The impact for C3 Limited’s finance team was immediate and measurable.
Key outcomes included:
- Quarterly lease processing time reduced from four to five days to just two days
- Reconciliation and reporting reduced from a four-hour process to the click of a button
- Over 20 hours per month saved across the finance team
- Improved reporting accuracy across the lease portfolio
- Reduced pressure during reporting and close cycles
Michael Quenby, Financial Accountant at C3 Limited, described the onboarding experience as “excellent”:
“The reconciliation and reporting process moved from a four-hour process down to the click of a button with reconciliation reports generated instantly and improved reporting accuracy across the business’s leases.”
Why This Matters
For asset-intensive organisations, IFRS 16 lease accounting is not a periodic exercise. Frequent lease changes mean inefficiencies quickly compound, consuming finance capacity and increasing reporting pressure.
C3 Limited’s experience shows how automating lease accounting can materially reduce manual effort, improve accuracy, and free finance teams to focus on higher-value work.
Is Lease Accounting Consuming Too Much Time in Your Finance Team?
OneTouch Leasing helps finance teams simplify and automate lease accounting under IFRS 16, with full support for FRS 102 where required. Designed for organisations managing frequent lease changes or high-volume portfolios, the platform replaces spreadsheet-driven processes with a controlled, efficient solution that supports fast, accurate financial reporting.
Speak with OneTouch Leasing to understand how your organisation could achieve the same level of efficiency, accuracy, and control.
