ContractHive
What is ContractHive?
ContractHive is a lease accounting and lifecycle management platform for organizations reporting under International Financial Reporting Standard 16 (IFRS 16). The platform extracts lease terms from source documents, calculates lease liabilities and right-of-use (ROU) assets, and produces accounting schedules, journal entries, and disclosures.
Key Capabilities
- Contract abstraction: Optical character recognition (OCR) and natural-language processing extract payment schedules, escalation clauses, renewal options, and other lease terms from PDF files, scanned documents, Microsoft Word files, and spreadsheets. Extracted values include confidence scores and references to the relevant source clauses.
- IFRS 16 calculations: ContractHive calculates initial measurements, modifications, remeasurements, and terminations. The calculation engine generates ROU asset schedules, lease-liability schedules, journal entries, and financial disclosure tables.
- Lease lifecycle management: Configurable workflows support lease onboarding, review, approval, renewal, modification, and termination. Critical-date alerts track renewal windows, payment milestones, escalation dates, and contractual options.
- Portfolio consolidation: Finance teams can consolidate lease data across multiple legal entities and currencies while maintaining entity-level ownership and group-level reporting.
- Audit support: Event histories connect calculations and reported figures to their underlying inputs or contract clauses.
- Accounting-system exports: ContractHive provides exports for SAP, Oracle, Sage, and AARO Lease. The platform also supports configurable journal mappings for different general ledgers and charts of accounts.
Audience & Use Cases
- Audience: Finance teams, lease accountants, financial controllers, and accounting compliance personnel responsible for multi-entity lease portfolios.
- Use cases: IFRS 16 reporting, lease data extraction, month-end accounting, portfolio consolidation, disclosure preparation, contract renewal tracking, and audit evidence collection.
Technical Specifications
- Supported source formats: PDF, scanned image, Microsoft Word, and Microsoft Excel
- Supported document languages: English and Arabic
- Portfolio support: Multiple entities and currencies
- Workflow controls: Role-based routing, configurable alerts, electronic-signature integration, and event-level audit histories
- Listed integrations: SAP, Oracle, Sage, AARO Lease, DocuSign, and Microsoft 365
Categories & Use Cases
Technical Details
| Mobile Application | No |
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FAQs
What are ContractHive's top competitors?
Trullion are common alternatives for ContractHive.