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Case study: RCS MediaGroup

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Case study: IFRS 16

Key information:

  • Multimedia publishing group
  • Headquarters: Milan
  • Listed on the Italian Stock Exchange, MTA segment
  • 3,265 employees as of 31/12/2018
  • 2018 consolidated revenues as of 31/12/2018: € 975.6 million
  • For more information: www.rcsmediagroup.it

The return on investment – In a few words

  • Sigma Conso IFRS 16 is a ready-to-use solution that requires minimal configuration
  • Flexible and easy to use application
  • Predefined and customizable calculation models and logics
  • Full integration with third-party software applications for data import and export

The situation

In view of the entry into force of the new accounting standard IFRS 16, RCS MediaGroup was looking for a software application for the companies of the group that would offer complete data collection and automatic generation of IFRS 16 accounting entries.

The solution had to meet the reporting and disclosure requirements of the new accounting standard, be quickly implemented across the group, and be integrated with the ERP system.
Furthermore, it was required that the application should natively manage any type of lease contract (cars, buildings, technologies, equipment, …).

The result

The implementation of Sigma Conso IFRS 16 has allowed RCS MediaGroup to have more visibility on the information on leasing contracts and to benefit from full traceability and auditability of the calculated data.
The implementation was quick and the project was carried out according to the plan.

Silvio Valentini, SAP Owner and Accounting Services Manager at RCS MediaGroup, explains:

Our goal was to select a software solution that would provide full functionality for data collection and would automate generation of IFRS 16 accounting records, and that met the disclosure requirements of the new accounting standard. The Sigma Conso IFRS 16 solution guarantees greater efficiency and makes the management of lease contracts easy. It also offers full traceability and auditability of the calculated data.

 

About RCS Mediagroup

RCS Mediagroup is one of the leading international multimedia publishing groups. The company is active in all the publishing sectors, from newspapers to periodicals, from digital to books, from TV to new media, as well as being one of the main operators in the market of advertising sales and in the organization of sport events and format of primary importance.

The group, listed on the Italian Stock Exchange, is present especially in Italy and in Spain, with leading brands in daily and periodical publishing.

The group publishes, among others, the daily newspapers Il Corriere della Sera, La Gazzetta dello Sport, El Mundo and the magazines Oggi, Io Donna, Living, Sette, Sport Week,

For more information: www.rcsmediagroup.it

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