News Release: iSP3 Partners with Black Owl Systems for Lease Accounting

FOR IMMEDIATE RELEASE: October 28, 2021
William Liu
iSP3 solution providers inc.
wliu@isp3.ca

iSP3 Selected as Canadian Partner for Black Owl Systems Lease Accounting Software
Innovative Solution Based on Strong Accounting Principles for Cloud or On-Premise

Vancouver, BC, Canada: iSP3 solution providers inc. announced today that they have been selected as a Canadian partner for Black Owl Systems’ revolutionary Lease Accounting software. Black Owl Systems is delivering a new approach to lease accounting software which is founded on strong accounting principles and can be utilized with the modern technology of cloud or on-premise.

Typical lease accounting can be quite complex and increase the time and effort required to ensure calculations and disclosures are correct. Black Owl Systems is setting a new benchmark in lease accounting with an easy to use yet comprehensive and complete solution ensuring you can easily manage your leases to be IFRS and US GAAP compliant. This is a far more robust system than other lease accounting solutions as it delivers many benefits that are designed to directly reduce burden of managing leases and increase ROI for companies.

“This partnership will bring great benefit to all of our customers who lease physical assets, no matter what ERP they run,” said William Liu, Senior Partner at iSP3. “As we've seen, the regulations for lessee and lessor accounting are intricate and using manual spreadsheets to create schedules and journal entries overlook many of these important calculations. Black Owl Systems has designed a solution to reduce the risk of incorrect accounting, ensure compliance for reporting in IFRS 16 and ASC 842, as well as a host of other benefits. We look forward to the opportunities that this solution will bring to our customers.”

About iSP3
With over 20 years in the ERP industry, iSP3 solution providers inc. delivers quality consulting services and solutions to the JD Edwards EnterpriseOne, World, and Cloud customer base. We now include Nextworld as a tier-one ERP solution for our clients who would benefit from a no/low-code platform to provide unprecedented agility to their business. Whether you require assistance with implementations, upgrades, migrations, or technical and functional services, our team’s knowledge and experience are here for you.

About Black Owl
Black Owl Systems Inc. is a Canadian company, developing and delivering innovative accounting solutions designed by accountants for accountants. Their system is built to comply with IFRS 16 and ASC 842 standards but follows the methodologies of standard accounting practices. Our business applications are developed in North America using modern cloud-based technologies to ensure delivery of leading global enterprise solutions.

For more information contact wliu@isp3.ca or visit https://www.isp3.ca/lease-accounting/.