🔄 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   

Om Podcasten

Exploring the intersections of accounting, technology and modern practice methodologies. Hosted by Heather Smith, an award winning Chartered Accountant with a flair for storytelling. Heather is obsessed with how effective automation and integration can produce timely clean data, to surface information for brave, fast data-informed decision making. Better data, better decisions, better business. She explores this topic with her guests, uncovering insights that offer you a competitive edge. Delve deeper into the Accounting Apps landscape and enhance your understanding. The podcast promises enlightening discussions in the fields of accounting, technology and artificial intelligence. Hit that subscribe button now! Subscribe to the Accounting Apps newsletter: http://AccountingApps.io Join the free Accounting Apps community to continue the conversations. https://www.facebook.com/groups/XeroMasterMind Brilliant guests include entrepreneurs, founders, business consultants, accountants, bookkeepers, small business owners, cloud advisors, developers, cloud integrators and solution providers. Each month guests share how they built their business and how your business or clients can use technology to be more effective and efficient. This may include exploring: *How you can implement and integrate business tools with your online accounting software to automate processes, improve productivity, and profitability; *How to build a business developing business apps; or *How to build a tech stack that meets your business needs or introduce your clients to them. Contact details: LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/