Nomos One

The typical implementation process for Nomos One software, including key stages and estimated timelines based on available data:

Nomos One Implementation Process

1. Initial Review & Planning

• Stakeholder Engagement: Nomos One begins by understanding your key stakeholders and business requirements.
• Portfolio Assessment: They assess your existing lease data, whether in spreadsheets, databases, or hard copies, and estimate the number of agreements to onboard.

• Gap Analysis: Identifies missing or inconsistent data and areas for optimization.

2. Account Setup & Customization

• Custom Fields & Reports: Tailors the platform to your organization’s structure, including grouping properties and customizing reports.

• Data Structure Planning: Determines how leases will be organized within the system.

3. Data Entry & Onboarding

• Document Interpretation: Nomos One’s team reads through lease documents to extract key dates, rates, clauses, and terms.
• Data Upload: All relevant documentation is uploaded, and inconsistencies are flagged and resolved.

• Validation: Ensures accuracy by comparing uploaded data against original documents.

4. Review & Go-Live

• Final Review: A thorough check of all data and documentation is conducted.
• Training: The in-house training team educates users on how to use the system effectively.

• Accounting Support: Ensures financial outputs meet expectations and compliance standards.

5. Post-Implementation Support

• Ongoing Services: Includes uploading new agreements, running reports, managing renewals, and updating lease terms.

• Training & Updates: Continuous training is available as teams grow or change.

Estimated Timeline

While Nomos One does not specify a fixed duration, the implementation process typically depends on:

• Size of the lease portfolio
• Complexity of lease agreements
• Quality of existing data
• Level of customization required

For medium to large enterprises, the full implementation may take several weeks to a few months, especially if extensive data cleansing and customization are needed

Nomos One is highly customizable to meet the unique needs of different businesses. Here are the key customization features:

• Custom Fields & Reports: Users can create custom data fields and tailor reports to match internal reporting structures.
• Portfolio Structuring: The system allows for the grouping of leases and assets based on business units, regions, or asset types.
• Event Tracking: Users can define custom events (e.g., inspections, maintenance) and set automated reminders.
• Multi-Currency Support: Useful for multinational companies managing leases across different countries.
• User Roles & Permissions: Access can be customized by role, ensuring data security and workflow control.
• Integration Flexibility: Nomos One can integrate with ERP and financial systems, allowing for seamless data flow.

Additionally, during onboarding, Nomos One’s team works closely with clients to customize the software setup based on their lease portfolio and operational needs.

Nomos One uses a custom pricing model, and while exact figures are not publicly disclosed, here are the known cost components:

• Starting Price: From NZD 99 per month, depending on the scale and features required.

• Setup Fees: There may be initial onboarding or setup fees, especially for large portfolios, as the team assists with data migration, document review, and system configuration.

• Support:
  • Unlimited support is included in the subscription, covering technical help and accounting guidance.

  • Access to a dedicated support team and in-house technical accountants is part of the package.

• Maintenance: No separate maintenance fees are mentioned—updates and platform improvements appear to be included in the subscription.
• Training: Training is provided during onboarding and is available on an ongoing basis, which may be bundled or charged depending on the service level agreement.

Nomos One provides a comprehensive training and support ecosystem designed to help users get the most out of the platform:

Training Options

• Onboarding Training: Delivered by Nomos One’s in-house team during implementation. It includes walkthroughs of lease setup, data entry, and system navigation.
• Learning Hub: Offers on-demand video tutorials covering:
  • Creating and managing lease agreements
  • IFRS 16 reporting setup
  • Handling scheduled and unscheduled events

  • Variations, renewals, and term adjustments

• Live Q&A Sessions: Available after completing video lessons for personalized guidance.
• Administrator Training: Covers system settings, user roles, and permissions.

• Ongoing Training: Available as your team grows or changes, ensuring continuity and knowledge retention.

Support Services

• Unlimited Support: Included in the subscription, covering technical issues and accounting questions.
• Dedicated Support Team: Offers personalized assistance and troubleshooting.
• In-House Technical Accountants: Help with financial compliance and reporting.
• Support Center: Includes FAQs, how-to guides, and step-by-step tutorials

Nomos One employs a range of security protocols to safeguard user data:

Security Framework

• Security Rating: Evaluated across five risk categories:
  • Website security
  • Email security
  • Phishing & malware protection
  • Brand & reputation risk

  • Network security

Data Protection Measures

• Audit Trails: Tracks user activity for accountability and compliance.
• User Access Controls: Role-based permissions to restrict data access.
• Secure Hosting: Cloud-based infrastructure with encrypted data storage.
• Regular Updates: Ensures the platform is protected against emerging threats.

Nomos One maintains an active product roadmap that outlines current developments, upcoming features, and recently delivered updates

• Regular Feature Enhancements: Updates are rolled out as new features are developed and tested.
• Continuous Improvement: The platform evolves based on user feedback and compliance changes (e.g., IFRS 16 updates).
• Beta Program: Users may opt into beta testing for early access to new features.
• Automatic Updates: Updates are managed centrally and applied to the cloud-based system without requiring manual installation by users.

This approach ensures that users always have access to the latest version of the software with minimal disruption.

According to Nomos One’s Terms of Use:

• Client Data Ownership: All data inputted by the client or its users into the system—including lease agreements, financial data, and personal information—is considered Client Data and remains the property of the client.
• Data Portability: Clients can export their data from the system, although the format and process are not detailed publicly. This implies a level of data portability, especially useful during offboarding or migration.
• Confidentiality: Nomos One treats all client data as confidential information, protected under contractual obligations.
• Access Rights: Nomos One may access client data only for support, billing, or service improvement purposes, and only with client consent.

These policies align with standard SaaS practices, ensuring clients retain control over their data while using the platform.

Nomos One is designed to be scalable and flexible, allowing organizations to adjust their usage as their lease portfolio grows or contracts:

• Modular Services: Clients can add or remove services such as onboarding, portfolio management, or custom development based on evolving needs.
• Unlimited Users: The platform supports unlimited users, which simplifies scaling across departments or regions.
• Custom Pricing: Pricing is tailored to the size and complexity of the lease portfolio, so scaling up or down typically involves renegotiating the subscription terms.
• No Mention of Penalties: There is no public indication of penalties for reducing usage, but changes likely require notice and may be subject to minimum contract terms.

Nomos One’s contract terms are outlined in its Terms of Use and support documentation:

• Renewal Process:
  • Renewals must be processed at least one day before the expiry of the current agreement.
  • Extensions are handled as “renewal terms” in the system to ensure accurate IFRS 16 reporting.

  • Clients can add new renewal periods or extend existing terms through the platform interface.

• Cancellation:
  • Clients can choose not to renew by allowing the agreement to expire.
  • There is no public mention of early termination fees, but cancellation terms are likely governed by the Subscription and Services Agreement.
  • Upon cancellation, clients retain ownership of their data and may export it before access ends.

Nomos One is built with a strong focus on financial and data compliance:

• IFRS 16, ASC 842, GASB 87: The platform supports full compliance with these international lease accounting standards.
• ISAE 3402 Assurance:
  • Nomos One’s key controls are audited by a Big Four accounting firm under the ISAE 3402 framework.
  • This standard aligns with SOC 1 methodology and ensures robust internal controls over financial reporting.
• Audit Trails: Every user action is logged for transparency and compliance.
• Data Confidentiality: Client data is treated as confidential and is protected under strict access controls