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Lease Abstraction demo

Every lease and amendment read, cited, scheduled and checked twice, with each judgment left to the lease accountant. 1:30

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What the demo shows

Abstracts leases into ASC 842 / IFRS 16 data with every term cited, for lease accounting

Eight agents work every lease. The intake agent groups the lease with its amendments and catches missing pages, unsigned drafts and duplicates. The abstraction agent reads 46 terms and cites each to its page, applying amendments in order. The schedule agent builds the monthly payments and computes the ASC 842 and IFRS 16 values. A checker agent re-reads the lease on its own and confirms every payment, date and option. The judgment agent brings each uncertain option to the lease accountant with both treatments computed, and the accountant decides with a reason code and an e-signature before anything is exported. A change watcher tests every amendment as a modification or a separate lease, a notice-dates agent tells real estate what each decision does to the books, and a hidden-lease finder reads supplier contracts for leases nobody sent.

Transcript

  1. Lease Abstraction turns signed leases into ASC 842 and IFRS 16 accounting every term cited.
  2. By hand, one lease takes two to six hours, and missed amendments are a common audit finding.
  3. Today, agents read a new lease at 400, Market Street, each term linked to its page.
  4. The schedule builds itself.
  5. Six months free, 3% a year, options in the margin.
  6. Right-of-use asset, $8.94 million at 6.1%.
  7. A checker agent re-reads the lease and confirms all 120 payments.
  8. One call needs grace.
  9. Is the renewal reasonably certain?
  10. Both treatments are shown.
  11. She asks about a higher rate and gets a cited answer.
  12. She excludes the renewal with a reason code, signs, and it's booked.
  13. Every term cited, every judgment signed, every step logged.
  14. Booked in minutes, 18 days before the lease starts.
  15. Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.