🔄 Automating and simplifying the complexities of Lease Accounting | Adam Riches

Today I’m speaking with Adam Riches, CEO & Co-Founder of Netgain In this episode, we talk about . . . - Adam Riches discusses the new lease accounting standards IFRS 16 and ASC 842, and how Netgain helps clients navigate the complexities - Riches shares how Netgain automates lease data extraction from contracts using AI to save accountants time - The challenges of managing cash flow visibility and bank reconciliations for businesses are highlighted - How Netgain's tools like its close module help speed up the month-end close process and improve data quality - The history of accounting software development is examined, from mainframes to Excel, and how Netgain aims to continue innovating - Potential applications of AI in accounting are explored, such as automating bookkeeping tasks and catching previously overlooked errors Contact details:   Adam Riches linkedin.com/in/adam-riches-cpa Netgain: https://www.netgain.tech/  Accounting Apps newsletter: http://HeatherSmithAU.COM Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind  LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/  YouTube Channel: https://www.youtube.com/ANISEConsulting  X: https://twitter.com/HeatherSmithAU