Annual Financial Statements Analyzer and Verification
Verify the completeness and validity of Annual Financial Statements (AFS) while extracting key financial data with AI.
Details
What you get
Description
The Annual Financial Statements Analyzer and Verification solution ensures Annual Financial Statements (AFS) meet compliance standards by checking for essential components, including the Profit and Loss Statement, Balance Sheet, Cash Flow Statement, date, and required signatures.
This AI solution is ideal for auditing firms, financial institutions, and regulatory bodies that need to process large volumes of financial statements efficiently, ensuring all essential information is captured without errors. It integrates seamlessly with existing financial tools or can be used as a standalone solution.
Product information
1. Upload the Document: Users upload the Annual Financial Statements (PDF or scanned format).
2. Completeness Check: The system verifies the presence of:
- Profit and Loss Statement
- Balance Sheet
- Cash Flow Statement
- Document date
- Directors’ signature
- Auditors’ signature
3. Validation Result:
- If valid: Extracts revenue, profit, reporting period, and confirms the number of valid AFS.
- If invalid: Provides specific reasons (e.g., missing signatures or sections).
4. Output: A structured report summarizing findings, extracted financial data, and validity status.
Use Case: Financial Statement Review & Verification
Industry: Accounting & Auditing
Description: Automating the review and verification of financial statements, including balance sheets, income statements, and cash flow reports, to ensure compliance with accounting standards.
Benefit: Reduces the time and effort required for auditors to verify financial accuracy, minimizes human errors, ensures compliance with regulatory frameworks, and allows for faster auditing processes and reporting.
Use Case: Loan Risk Assessment
Industry: Banking & Financial Services
Description: Automating the analysis of financial statements provided by businesses seeking loans to assess creditworthiness and potential risks.
Benefit: Speeds up the loan approval process by providing faster and more accurate financial health assessments, reduces risk for lenders by ensuring a more thorough review of financials, and enhances decision-making with automated financial insights.
Use Case: Tax Compliance & Filing
Industry: Tax & Compliance
Description: Automating the extraction and validation of financial data from annual statements for tax preparation and compliance, ensuring that businesses meet regulatory tax reporting standards.
Benefit: Reduces the time and effort involved in preparing tax filings, ensures compliance with tax regulations, minimizes errors in financial data extraction, and provides businesses with accurate, timely tax filings.
The AI validates the presence of the Income Statement, Balance Sheet, Cash Flow Statement, document date, directors’ signature, and auditors’ signature.
It extracts revenue, profit, reporting periods covered, and counts the number of valid AFS submitted.
The solution highlights missing components and provides clear reasons for invalidity.
Businesses, auditors, financial institutions, and lenders requiring automated AFS validation for audits, due diligence, or compliance reviews.
Yes, the solution offers API integration for seamless validation and reporting within your current workflows.
The AI solution is designed with your data security and privacy in mind. We ensure that all documents processed through our system adhere to the highest standards of data protection, maintaining compliance with regulations like GDPR and POPIA.
Here’s how we safeguard your information:
- Data Encryption: All data, both in transit and at rest, is encrypted using industry-standard protocols, ensuring that sensitive information remains secure.
- Access Control: Only authorized personnel and systems can access your data, with strict access control measures in place to prevent unauthorized use.
- Compliance with Privacy Regulations: We comply with global and local data privacy regulations, including GDPR (General Data Protection Regulation) and POPIA (Protection of Personal Information Act), ensuring that your data is handled with care and transparency.
- Data Anonymization: Personal and sensitive data can be anonymized during processing to reduce exposure and maintain privacy, without compromising the integrity of the verification process.
- Secure Document Storage: Verified documents can be securely stored, with retention policies aligned with your compliance needs. You retain full control over document storage and access.
- Audit Trail: Our system maintains a full audit trail of all document verification activities, providing transparency and accountability for every transaction.
We prioritize the confidentiality and security of your business data, ensuring that our verification processes not only improve efficiency but also strengthen trust in how your information is managed.
Our AI solution follows Highwind’s standard Service Level Agreement (SLA), ensuring clear support and service quality expectations.
Please download the full SLA document for a comprehensive outline of support levels, response times, and resolution standards.
Annual Financial Statement Verifier - Price
Starting at
$50.00
per month
Up to 1000 units, then $0.00 per unit.
Annual Financial Statement Verifier - Price
Starting at
$300.00
per month
Up to 10000 units, then $0.00 per unit.
Annual Financial Statement Verifier - Price
Starting at
$500.00
per month
Up to 20000 units, then $0.00 per unit.