Financial Spreading Automation
Power your spreading process, make better credit decisions & optimize employee efforts.
Fast, accurate spreading & analysis across standards and formats
Reduce Spreading Turnaround Time
AI powered extraction of granular details from non-standard tables, notes & description text across report type formats, standards in a fraction of time.
Minimize Financial Risks and Errors
End-to-end automation with spreading models trained on millions of financial tables; and easily configurable spreading templates, avoiding manual errors
Streamline Financial Analysis Process
Automatically extracts and normalizes data from any financial statement; instantly calculates ratios, and produces output in dashboard or widget formats.
Improve Investment & Credit Decisions
Spread financial documents from multiple financial statements across companies to enable comparative analysis for competitive insights.
Powerful Spreading Automation Platform.
AI-powered extraction of 1000s of granular data points across financial documents, normalization and insightful analysis – to improve the quality of financial decisions.
Capture
For automated Extraction
AI-powered extraction of financial data from various financial documents of different reporting standards, languages from multiple sources – regulatory or company site, FTP etc; with semantic understanding of data points extracted from tables, text, footnotes, description etc.; based on pre-trained models and easily configurable spreading templates. Expensive subject matter experts can be leveraged for strategic work rather than tedious, manual data entry and analysis.
Search
For Seamless Search
Powerful vertical search engine that queries financial tables and running text across documents to return results based on relevant search filter – to enable credit, finance, accounting teams with relevant data for decision-making.
Analyse
To accelerate decision making
Customizable, interactive dashboards produce reports in form of interactive graphs and charts, matrices and heat maps to augment insights and drive informed credit, investment and other critical business & financial decisions.
Automate
To maximize efficiency
Workflow management and integration (via APIs, webhooks) to downstream/upstream financial and accounting or other systems.
Why choose Botminds Financial Spreading Automation Solution?
Automatically extract and normalize data from any financial spreads, tax audits, 10-Ks, 10-Qs, and other documents in minutes.
Set up intelligent crawlers to load new annual reports or filing automatically.
Point and click configuration, no-code AI with simple intuitive interface
Up to 100% accuracy that improves over time with prebuilt taxonomies, models & self-learning.
Enables side by side comparison of financials over time periods to infer trends and insights.
Accuracy
Time Saving
Productivity
Reduced Manual Work
Frequently asked questions about Spreading process automation
Still have questions?
Please chat with our support team.
Why are there different financial reporting and accounting standards?
Accounting standards differ by countries and regions as they have evolved based on the historical norms, legal and taxation procedures.
The US Generally Accepted Accounting Principles (US GAAP) is not followed across the world. The International Financial Reporting Standards (IFRS), currently followed by 120+ countries, was derived based on guidelines provided by the London-based International Accounting Standards Board (IASB) - to have an international accounting framework.
There were over 15+ IFRS and 20+ International Accounting Standards as of 2019. The IAS will replace IFRS when it finalized by IASB.
All of this makes it challenging to compare and analyse financial statements of companies with cross-border commerce; or those across geographies – since it is largely manually and is an error-prone, tedious job. An AI-powered financial spreading automation platform such as Botminds AI is designed to address this very challenge.
What are some reasons for remediations and restatements?
Restatements (and remediations) can be triggered due to wrongly applied complex accounting or taxation rules such as acquisitions, revenue recognition; errors in classifying cash flows; revisions in estimations (e.g. depreciation of assets); and gaps in internal controls. Adoption or changes in systems used such as ERP, Accounting software etc. - may also lead to need to remediation of financial processes and statements.
Does the platform handle only digital documents?
Botminds can handle any PDF documents (scanned or digital). In addition, the Botminds AI platform can extract unstructured data from financial tables or text on web pages, if any.
How secure is my financial data?
Your data is highly secure. Botminds platform was built with high degree of data security in mind. 2FA and role-based access controls are in place.
See Botminds Platform In Action
Learn how Botminds Intelligent Document Process can drive ROI, reduce costs, and save time for your business.