Prior to joining Nomos One as a new customer, there would have been a discussion between the customer and a member of our Sales Team about which Onboarding option is best suited to their organisation and portfolio. The options are either a Full Data Onboard or a Bulk Upload. This article will provide an overview of the Bulk Upload process, what it entails, and what is expected from the customer. 

The Basic Process

Similar to the Full Onboarding option, the Bulk Upload process will begin once the customer contract has been signed following the Sales demonstration. Compared to the Full Onboard, it is considered to be a much quicker process, albeit depending on whether anything hinders its progression. 

First, the Onboarding Team will contact the customer directly to e-introduce themselves and schedule the initial discovery call. When that discovery call is held, the two parties will confirm that a Bulk Upload is appropriate and discuss the following: 

• The Bulk Upload template (to be completed by the customer),
• What the customer wants to use Nomos One for,
• Who from within the customer's company will be using Nomos One,
• Key financial details, including IFRS 16 transition settings, if applicable, and 
• Any specific details the customer wants included in their Organisation. 

This conversation will wrap up with a walkthrough of what the remainder of the Bulk Uploading process will look like. Following the discovery call, the customer will fill out the relevant fields in the Bulk Upload template and email it back to their contact in the Onboarding Team. 

Once the template/s have been received, the Onboarding Team will bulk upload the information into the customer's set Organisation. A quality check will then be carried out to make sure that all of the data has uploaded correctly. During this time, the Onboarding Team will manually enter any relevant Events, activate the Agreement, and complete historical events. If required, they will also compile a Queries Report which allows the Team to track any questions they may have, or details that require clarification, to ensure the lease agreements have been recorded correctly in the system. For more information on what is happening during this stage, you can read this article.

If the customer is using Nomos One for IFRS 16 purposes, they will also need to fill out a template with their IFRS 16 judgements for each relevant lease agreement. This spreadsheet is called the IFRS 16 Questionnaire and will be uploaded to the system by the Onboarding Team once the initial upload of contractual data is complete. Please note that only the initial judgements for each relevant lease agreement can be bulk uploaded - any subsequent re-measurements or changes to judgements must be uploaded manually. 

The Customer's Contribution

Throughout the Bulk Upload Process, the customer will receive updates on how it is progressing and whether more information is required. It's important that the customer is actively engaged and contributing to the process in order for it to be completed as efficiently and accurately as possible. This will facilitate a seamless experience for both parties, enabling the customer to reap their benefits of Nomos One more quickly. We ask the customer to assist with the following:

• Completing the Bulk Upload template as soon as possible. In addition, you may be asked to complete the following:
  • The Initial IFRS 16 Questionnaire, and
  • The Bulk Upload: Events + Payments template. 
• Engaging with email communications in a timely manner.
• Responding to requests for information from the Queries Report.
• Running financial reports during the UAT Period and communicating to the Onboarding Team any disparities between the information in Nomos One and the information the customer has.
• Working with the Onboarding Team to correct any discrepancies and/or variances.
• Engaging with the training done by the Customer Education Team, whether that be through videos or live training sessions. 

The Templates

To help ensure you and the Onboarding Team meet the target completion date, you will need to complete one or both of the bulk upload templates, depending on your approach to the onboarding process. We have detailed articles designed to help you easily complete these.  

For help with the Bulk Upload Template, see this article.

For help with the IFRS 16 Questionnaire, see this article. 

Frequently Asked Questions

This section aims to address some of the frequently asked questions regarding the Bulk Upload process. If you have a question that is not included here, please reach out to your contact in the Onboarding Team and they will be able to assist.

Q: How long does the Bulk Uploading Process take?

A: The process can take anywhere from a few days to a few weeks. It will depend on the size of the portfolio and how quickly the customer returns the Bulk Upload template/s.

Q: What are the benefits to a Bulk Upload rather than a Full Upload?

A: The Bulk Upload option is, overall, a much quicker process. It is a great way to get all of your base information in the system as long as you have confidence in the data you currently have for each of your agreements. 

Q: Do we need to fill in both the Agreement Bulk Upload Template and the IFRS 16 Questionnaire?

A: If you have opted for the Bulk Upload option and need to do IFRS 16 reporting on some of your Agreements, you will likely need to fill out both spreadsheets. If you have opted to bulk upload Agreement information but not IFRS 16 information, you would only need to fill out the relevant spreadsheet. Your Onboarding Project Lead will help with which spreadsheet you should use.  

Q: Can I delete columns that I don't need from the spreadsheet/s or add columns for information I want to record into the spreadsheet/s?

A: No, you cannot alter the columns of the spreadsheet/s by either deleting them or adding new ones. If you do so, or vary the set formatting in any way, we will be unable to properly upload your data into the system. 

Q: I have my own spreadsheets. Am I able to use/provide that instead of the template provided?

A: Unfortunately not. Our spreadsheets have been designed specifically for the Nomos One system. Other spreadsheets will have different formatting that will not be recognised. 

 Nomos One does not provide or purport to provide any accounting, financial, tax, legal or any professional advice. Nomos One is not responsible or liable for any claim, loss, damage, costs or expenses resulting from your use of or reliance on these resource materials. It is your responsibility to obtain accounting, financial, legal and taxation advice to ensure your use of the Nomos One system meets your individual requirements.