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Upload a financial statement and watch as Affinda instantly predicts the data fields you want to extract, helping you automate financial statements processing in just a few clicks.
How to automate financial statements processing with Affinda's AI
- 1
Upload your financial statements, your way
Email, drag and drop or connect via API.
- 2
Watch as it extracts your financial statements data
Affinda's AI reads your financial statements with impressive contextual understanding. It splits and classifies documents, extracts and validates data, then transforms the output to match your business needs.
- 3
Automatically route the data to your systems
No manual data entry required. Affinda integrates seamlessly into your existing tech stack.
Extract any information from any document, fast
Affinda's AI reads, understands and extracts data from any financial statement or document 
Cleanse and transform data
Affinda automatically converts extracted financial statement data into the format your accounting or audit system recognizes, ensuring it's ready for downstream processing. Need something custom? Use natural language to describe how you want the data to appear.
Apply business logic
Use natural language to write validation rules and apply your business logic to the data. This ensures the output meets audit standards and compliance requirements, enabling straight-through financial statements processing.
Combine the best of artificial and human intelligence
1B+ documents processed
10+ years of IP combined with the latest AI innovations
800+ customers
95% reduction in manual processing achieved
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Watch as the platform predicts the information you want to extract, letting you build models in minutes, not months.Automating their document processes with AI
Frequently asked questions
What is financial statements processing?
Financial statements processing is the workflow organizations use to extract, validate and structure financial data from annual reports and audited financials. Our AI financial statements processing software automates this entire process to reduce manual effort, errors and turnaround times. It ensures that financial details, disclosures and compliance data are accurately captured and recorded in accounting, audit and reporting systems.
What is financial statements data extraction?
Financial statements data extraction is the process of reading annual reports and audited financials and pulling off the critical data points (such as financials, disclosures, period, auditor details and reference numbers). Our platform uses advanced AI to automate financial statements extraction, turning multi-page statements and complex tables into structured data ready for your accounting, audit and financial reporting systems.
What is financial statements extraction?
Financial statements extraction is the automatic capture of key data from annual reports and audited financials using AI. Our financial statements extraction software combines reading order models, OCR, LLMs, RAG and more to convert this information with high accuracy and faster processing times.
What is a financial statements parser?
A financial statements parser is software that automatically reads and extracts data from annual reports and audited financials. It converts statements into structured, machine-readable formats. Affinda's financial statements parser handles multi-page statements, complex tables and grouped disclosures, learning from every interaction to adapt to your reporting requirements and output data in exactly the format your systems need.
What is financial statements line extraction?
Financial statements line extraction captures the detailed data within your financial tables – income statements, balance sheets, cash flow statements – and converts it into structured formats while preserving the relationships between each line item. Our platform interprets this tabled data with strong contextual understanding, handling everything from straightforward financial grids to complex nested tables with grouped disclosures.
What data fields can Affinda's AI financial statements processing software extract?
Affinda's AI financial statements processing software can extract data from any field within annual reports and audited financials. Standard data fields include:
Statement Information
- Entity Name / Legal Name: Name of the company or organization issuing the financial statement.
- Reporting Period / Fiscal Year: Date range or fiscal year the statement covers.
- Statement Type: Classification such as income statement, balance sheet, cash flow statement or statement of changes in equity.
- Currency / Reporting Unit: Currency used and whether figures are shown in thousands, millions or other units.
- Auditor Name / Audit Firm: Name of the auditing firm that reviewed the financials.
- Auditor Opinion: Type of opinion issued such as unqualified, qualified or adverse.
- Statement Date / Issue Date: Date the financial statement was prepared or published.
- Reference Numbers / Document ID: Unique identifiers or registration numbers associated with the filing.
Financial Line Items
- Account Labels / Line Item Descriptions: Names of each financial line such as revenue, cost of goods sold, depreciation or retained earnings.
- Current Period Amounts / Prior Period Amounts: Financial values for the current reporting period and comparative prior periods.
- Subtotals / Totals: Calculated section totals such as total assets, total liabilities or net income.
- Percentage Change / Variance: Year-over-year changes shown as percentages or absolute amounts.
- Note References: Cross-references linking line items to detailed footnotes or disclosures.
Disclosures & Notes
- Accounting Policies: Descriptions of accounting methods, standards and principles applied.
- Footnote Content: Detailed explanations, breakdowns and supplementary information linked to statement line items.
- Related Party Transactions: Transactions with affiliated entities, subsidiaries or key management personnel.
- Contingent Liabilities / Commitments: Off-balance-sheet obligations, pending litigation or future commitments.
- Segment Reporting: Financial performance broken down by business segment or geographic region.
Other Fields
- Page Numbers / Section Headers: Document structure and navigation elements.
- Signatures / Certifications: Names and titles of executives or board members certifying the statement.
- Company Address / Contact Information: Registered office and contact details when provided.
Need to capture custom fields or specific disclosure formats? Define them in the platform or describe them in plain language and Affinda will extract and structure them automatically.
What file types does Affinda's AI financial statements processing solution support?
Our AI agents can process any file type. Supported file types include PDF, JPG/JPEG, PNG, TIFF, DOC/DOCX (Word), XLSX (Excel), HTML and TXT/CSV.
How does Affinda process financial statements and extract financial statement data?
Affinda's AI agents read, extract and validate financial statement data. Our platform is intuitive to set up and easily integrates into your systems. Simply:
- Upload your financial statements via drag-and-drop, email or API.
- Configure business logic to match your organization's rules and workflows.
- Let Affinda check and validate extracted data against your business logic and accounting, audit and financial reporting systems to ensure accuracy.
- Access structured financial statement data directly within your systems.
The result? Faster, more accurate financial statements processing with minimal manual input.
Can Affinda extract data from scanned or image-based financial statements?
Yes. Our AI financial statements processing platform combines OCR with retrieval augmented generation (RAG), LLMs, agentic workflows, proprietary reading order algorithms and more, to automatically detect and process data from scanned or photographed invoices (PDF, JPG, PNG). Even low-quality images are automatically enhanced for reliable data capture and processing.
What language does Affinda's AI financial statements automation platform support?
Our AI financial statements processing platform can automatically detect and process financial statements in 50+ languages, including multilingual financial statements containing more than one language. Supported languages include: Afrikaans, Albanian, Amharic, Arabic (Standard, Egyptian, Sudanese, Algerian, Moroccan, Levantine), Bahasa Indonesian, Bengali, Bhojpuri, Bulgarian, Burmese, Chinese (Mandarin [PRC/Taiwan], Cantonese, Wu, Min Nan, Jinyu, Xiang, Hakka), Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Gujarati, Hebrew, Hindi, Hungarian, Italian, Japanese, Javanese, Kannada, Korean, Latvian, Lingala, Lithuanian, Macedonian, Malayalam, Marathi, Nepali, Norwegian, Odia, Persian (Farsi), Polish, Portuguese, Punjabi (Western and Eastern), Romanian, Russian, Slovak, Slovenian, Somali, Spanish, Swahili, Tagalog, Tamil, Telugu, Thai, Turkish, Ukrainian, Urdu, Vietnamese, Yoruba.
Does Affinda integrate with accounting, audit and financial reporting systems?
Yes. Our platform integrates with 400+ downstream systems, including leading accounting, audit and financial reporting platforms. You can build no-code integrations using our AI integrations agent, or create custom connections using our APIs – whatever fits your financial statements processing workflow best.
What are some examples of AI financial statements workflow automations?
AI financial statements processing enables organizations to automate and streamline critical financial workflows across departments including:
- Audit Teams: Speed up audit preparation and review by automatically extracting financials, disclosures and reference numbers from multi-page statements. Business-rule validation flags discrepancies and missing data before they reach auditors, reducing review cycles and rework.
- Finance and Corporate Reporting Teams: Automate quarterly and annual reporting by extracting structured data from complex tables and grouped disclosures. Feed accurate, validated financial data directly into reporting systems to improve compliance, transparency and faster close cycles.
- Accounting Teams: Eliminate manual data entry by capturing financial line items, period comparisons and footnote content from any annual report or audited financial. Structured data flows seamlessly into your accounting systems, reducing errors and freeing teams for analysis and strategic work.
What is a financial statements OCR data extractor?
A financial statements optical character recognition (OCR) data extractor scans and captures information from annual reports and audited financials, regardless of format or language. Upload documents in PDF, JPG or PNG formats. The OCR technology converts the documents into a text layer, ensuring all text (even from scans, photos or handwriting) is captured. Affinda's AI models then identify and extract key fields such as financials, disclosures, reporting periods, auditor details and reference numbers, transforming them into structured, usable data.
This automation eliminates manual data entry, reduces errors and saves time. Once the financial statement data is captured and structured, our AI financial statements processing pipeline can apply machine validation and post-processing to enable seamless integration with accounting, audit and financial reporting systems.
Organizations in accounting, finance, audit and corporate reporting rely on Affinda's AI for their financial reporting, audit preparation and compliance processes, streamlining workflows and improving overall efficiency.