TomTom slashes IFRS 16 admin time by 50% and lowers costs with Jedox

As a global leader in navigation, mapping, and location technology, TomTom prioritizes efficiency—not just in its products, but throughout its internal operations. When new IFRS 16 regulations required nearly all lease agreements to appear on the balance sheet, TomTom needed a streamlined, reliable solution for lease accounting.

Their previous IFRS tool, developed externally and poorly understood in-house, limited transparency and created extra manual work for the accounting team. This legacy system made it challenging to maintain compliance, respond quickly to new requirements, or empower internal teams to adapt processes on their own.

As TomTom Director IT Bart Hemmer explains, “Our previous IFRS solution was developed by an external party in a software package that no one within our organization was familiar with. Naturally, this was not ideal.” The company wanted to move away from opaque, siloed systems to a solution that could flex and grow with their business, as well as integrate easily with broader financial planning activities.

With only offices and vehicles under lease, TomTom’s IFRS 16 process was relatively straightforward, but it still required a user-friendly, future-proof solution.

Already leveraging Jedox for financial planning and cost allocation, TomTom saw the opportunity to centralize IFRS 16 processes on a platform they trusted. With guidance from Axians, TomTom built an IFRS 16 solution in Jedox and used the transition as a chance to optimize and automate their entire lease accounting workflow.

Jedox’s adaptable platform allowed TomTom to configure calculation logic and manage every aspect of the IFRS 16 process in a single environment. This included contract administration, automated calculations, and streamlined reporting fully aligned with compliance requirements. Axians, as the implementation partner, helped set up the technical foundation and supported TomTom’s internal developers throughout the project.

As Hemmer notes, “[Our] accounting process had to be developed from scratch within the Jedox platform. This involved tasks such as administrating lease contracts, performing calculations, generating reports, and maintaining movement schedules for our external auditors—all in compliance with IFRS 16 guidelines.”

Thanks to Jedox’s seamless integration and automation capabilities, TomTom quickly moved from manual, fragmented processes to a unified, efficient workflow—fully delivered in just five months, on time and within budget.

With Jedox, TomTom reduced software licensing costs and freed up valuable accounting resources for higher-value work. The team now benefits from greater transparency and faster, more reliable IFRS 16 administration.

As Hemmer shares: “Our accountants now complete the IFRS 16 lease administration in about half the time it previously took. Additionally, we achieve significant savings on licensing costs compared to our previous solution. It’s a win-win situation.”

Encouraged by these results, TomTom is now automating more of its financial processes. Monthly closing and planning are supported by automated Power BI reports and dashboards, with Jedox serving as a primary data source. The result: a modern, integrated Finance function that’s ready to scale with the business.