Financial statements

Solution: SYSTEM FOR READING DATA FROM FINANCIAL STATEMENTS

Area: Finance Debt collection BPO

Technologies: Content Intelligence RPA BPM

Companies that provide loans or credit lines or finance the purchase of specific equipment are obliged to periodically examine the financial situation of their customers. Such an examination is actually performed more frequently than formally required due to the obligation to publish reports for the National Court Register (KRS). Up-to-date financial statements are also required when concluding new contracts of this type. That is why certain organisations, e.g. banks, are obliged to conduct a cyclical supplier evaluation, which is a part of the Bank Security Policy and Recommendation D issued by the Polish Financial Supervision Authority (KNF). When the documents were delivered in the form of a scan or on paper, the personnel had to copy tremendous amounts of data into the relevant systems.

The solution based on the ABBYY FlexiCapture engine can automate the acquisition of such data, enabling their automatic import from the indicated location (API integration, hot folder, email inbox, scanner), reading and normalisation (removing excess spaces, using consistent number separators, consistent date formats, etc.), validation (verification of mathematical and accounting rules, checking if the report for the same period has not already been entered, etc.), and verification of ambiguous or unrecognised characters by the operator.

The following features are integrated into the system:

  • Mechanism for adding up all groups or subgroups (e.g. if the individual constituents of intangible assets add up to their total value, and if the intangible assets together with fixed assets, long-term receivables, etc. add up to the total value of the assets and, finally, if the value of assets is equal to the value of liabilities).
  • Mechanisms designed to prevent a single document from being processed twice if it has already been entered before (sent at the same time in the electronic and paper form).

Benefits

streamlining of business processes
cost reduction
shorter document processing time
shorter document processing time

  • The system is intended for back-office departments responsible for corporate clients from the SME sector including, in particular, the following:

    • Banks
    • Lease companies
    • Credit and loan institutions
    • Credit agencies.

  • The system can automate the acquisition and verification of data from documents such as the following:

    • Profit and loss account (based on the nature or function of expenses)
    • Balance sheet
    • F-01 document.

    The above-mentioned document types are supported both in the standard and extended form, as well as in simplified versions for small and micro-enterprises.

Our clients include, in particular, the following:

See all case studies

One of the largest Polish banks is automating the processing of debt enforcement documents