Business Wire
DebtBook, a leading provider of cloud-based software for government and nonprofit treasury and accounting teams, announced the launch of its AI Contract Processing feature, designed to streamline the lease and subscription contract entry process within its Lease Management and Subscription Management solutions. By leveraging artificial intelligence, DebtBook aims to simplify and accelerate compliance with GASB 87 and GASB 96 standards, saving valuable time and resources for government and nonprofit organizations.
With AI Contract Processing, users can upload their lease or subscription contracts directly into DebtBook, where the AI tool scans the document, extracts key data points, and provides suggested inputs. This approach allows teams to quickly review and approve suggestions, drastically reducing the amount of time spent on manual data entry.
“At DebtBook, we’re committed to eliminating the pain of compliance—from end to end, over time,” said Tyler Traudt, Co-Founder and CEO of DebtBook. “AI Contract Processing is an important step forward in that journey. By dramatically reducing the time it takes to comply with GASB 87 and 96—from weeks to hours—we’re helping our customers move closer to seamless compliance, so they can focus more on the strategic work that truly matters.”
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“AI Contract Processing was built with the customer’s control in mind,” said Erik Pelletier, Chief Product Officer of DebtBook. “While AI is handling repetitive tasks to save time and improve accuracy, users remain in control of the process—able to review, accept, or modify inputs as needed. It’s about enhancing productivity while maintaining trust and precision.”
DebtBook continues to innovate across its suite of products to support the needs of government and nonprofit finance professionals. By embedding AI tools like AI Contract Processing into its applications, DebtBook empowers teams to achieve greater efficiency and accuracy in their compliance workflows.
DebtBook offers modern treasury and accounting software to help state and local government, higher education, healthcare, and others break through operational barriers to unlock strategic insights.
Our Debt and Cash Management solutions empower strategic treasury and improve financial outcomes by automating operational work and allowing teams to analyze their data and extract valuable insights more efficiently. Our Lease and Subscription Management solutions streamline GASB 87, ASC 842, and GASB 96 compliance workflows so accounting teams can comply in hours, not weeks.
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