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The intelligent extraction of financial and tax documents
Solutions to automating the process of processing the financial statements and tax returns of companies and sole traders.
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Digitalization and automation using DocumentAnts
Manual processing of financial and tax documents, manual rewriting of data and subsequent analysis is a time-consuming and financially expensive routine work associated with a high error rate.
The suitable solution to this area is a comprehensive digitization of the process of incoming document processing in DocumentAnts, which brings with it a higher degree of processing efficiency, higher quality output data and cost savings.
The suitable solution to this area is a comprehensive digitization of the process of incoming document processing in DocumentAnts, which brings with it a higher degree of processing efficiency, higher quality output data and cost savings.
When is the solution appropriate?
Digitization of processes using DocumentAnts is an appropriate solution if:
You process manually a large number of financial statements
The size of the department and the cost of the staff that processes documents and performs checks are growing significantly
You perceive an increased error rate during manual rewriting and subsequent data processing for business needs
The current OCR solution has a low yield of information compared to the invested funds
Success story
Reference case of the process automation of the financial statement extraction from the banking sector:
1 400 statements
1 400 financial statements a day, which were previously processed manually, now are handled automatically thanks to DocumentAnts
70 % of documents
Of the total volume was flawlessly processed and automatically verified without the need for manual action
3.8 million CZK
Realized annual savings on the document extraction process, reduction from 8 FTE to 3 FTE
Benefits of financial statements digitalization
Cost savings
Digitalization of the process of financial document processing saves FTE and reduces the error rate.
Time savings
The procedure of processing is up to 10 times faster than during manual rewriting and data analysis.
Error rate reduction
Automated processing eliminates manual error rate of rewriting and data analysis.
Solution flexibility
The solution allows you to process documents from multiple sources, regardless of the document format.
How does it work?
DocumentAnts automates the entire procedure of financial statement processing
Receiving documents from digital channels
Recognition and validation
Data extraction from the document
Document check
Data enrichment and evaluation
Integration into the client´s processes
01
It automatically records all incoming financial statements from all sources, recognizes their format and prepares documents for further processing.
02
It extracts contextually information from financial statements and validates automatically and checks the extracted information without manual action.
03
It applies predefined checks, such as tax payment ones. In defined cases, the statements are passed for manual processing or check.
04
The extracted information and data are enriched with the data from external systems relevant to the processed case.
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