The right data makes compliance easy
IFRS 16/ASC 842 are the latest lease accounting regulations that require every kind of lease to be holistically evaluated, categorized, and placed on the balance sheet appropriately, from real estate leases to car leases and even leases for individual assets like fax machines. Non-compliance comes with hefty fines and accounting purgatory. The processing of these leases is long, cumbersome, and just simply finding them is painful enough. Preparing and maintaining data using an automated AI platform is the key to compliance.
Make sure you're in compliance with current accounting regulations across your whole property and asset portfolio.
Avoid hefty fines
Non-compliance leads to hefty fines and accounting purgatory, but utilising AI establishes ongoing audit trails, giving you peace of mind that your data is in order.
By integrating a lease abstraction solution with your Proptech stack, you will avoid manual processing delays and human data entry errors.
AI lease abstraction helps you stay compliant
Enhanced contract and data auditability promotes complete oversight into your accounting processes, giving you actionable data for easy analysis and granular clarity.
Our AI-powered lease abstraction solution hastens the automated processing of asset and real estate leases, providing significant resource and time savings.
Integrate with your lease accounting systems and processes to automate contract data extraction and optimize your data quality in the way that works best for you.
How it works
Optical character recognition
Once you upload your documents into Contract Intelligence, our proprietary optical character recognition (OCR) engine will convert your documents into machine-readable text for easy consumption and analysis as you meet ongoing regulations.
Contract Intelligence can identify hundreds of unique data points in any document, ranging from covenants to amounts to critical dates and terms and conditions. Easily extracting data out of the most complicated due diligence documents such as real estate leases, loan and credit agreements, purchase agreements, appraisals, rent rolls, and other documents can greatly speed up the transaction process.
Contract Intelligence comes with pre-built custom IFRS 16/ASC 842 extraction templates that will port the information into your database in the format you need to achieve compliance.
We have worked with a vast range of accounting systems like MRI Prolease, MRI Horizon, SAP, Powerplan, Lease Accelerator, Visual Lease, Tririga, and many others to ensure all your data can be easily scanned, stored, and accessed.
years of algorithm development
users gaining insight from data