👋 Hi Hunters, Jamie here from Heron Data. We partner with 100+ Banks, Fintechs, and other Business Lenders to automate mindless repetitive processes like parsing bank statements & application forms into your CRM. Financial statements are essential to most banks underwriting process but a massive pain to parse or 'spread'. Tax returns, balance sheets, and P&Ls provide unique insight into a company's financial health - they are the source for calculating datapoints like inventory turnover, quick ratio, and debt:assets, components of most credit models. Our customers can often reach a speedy lending decision once they have the datapoints they need from financials. However, unless they can hook into a customer's accounting platform directly with a tool like Codat or Rutter the only way to calculate (or 'spread') these ratios reliably from financials in PDF or Excel is by hand. Spreading financials for each company takes them 20-90 minutes... and it's really boring. Until now that is - say hello to AutoSpread! 🤖 Use ML, not human endurance to spread financials. Send what you have to Heron in the format you have it and get it back ready for your credit models or human judgement to analyse 🔌 Heron can ingest docs via email, API, or portal. We'll classify docs, parse or spread them, and push the results into wherever you want them e.g. CRMs like SalesForce, your own propriety software, or an email inbox as an Excel attachment 🗣️ Our software works with financials in most languages - never google translate Dutch line items again 💯 Output quality is our problem, not yours. We stand by our results and will review the docs we can't validate to be correct so you can spend your time on better things OK, but why does all this matter? A high degree of manual intervention makes underwriting a small commercial loan expensive and reduces access to credit, especially for smaller (<$250,000) loans according to research from FinRegLab. This means less access to affordable credit for small businesses, less growth, and more SMBs going under. What's more, humans are amazing at complex processes that require thought and judgement - like making an underwriting decision after reviewing all the data. We are terrible at copy and pasting numbers from a PDF into an Excel all day. Focus on the former, let us automate the latter and make financial services better for businesses :).

Great solution, @jamie_parker ! Happy to see AutoSpread reduce cash flow analysis manual work. Looking forward to upvoting!

Hey Jamie, How does AutoSpread handle variations in formatting or non-standard line items in financial statements? What languages does it currently support? Congrats on the launch!

Kudos to the Heron Data team for AutoSpread! This tool is going to make a significant difference in underwriting processes, especially for small business loans. @jamie_parker

Hats off, @jamie_parker! AutoSpread is such a lifesaver for anyone buried in financial statements. The ML-powered approach to spreading is brilliant—goodbye to manual data entry! I'm curious, how does AutoSpread handle extremely large datasets? Does it maintain the same level of speed and accuracy?

This will surely streamline the underwriting process for many businesses.

A really impressive solution! Upoted!

I’m excited about heron data potential to transform the way we handle financial statements

Not sure if we really need another tool that promises to simplify everything, I mean, how many of these actually live up to their hype, right, the idea is intriguing but let's see if it can really make a differencs or just another flashy app we'll forget about in a month

Sounds like a really useful tool, Jamie! Just checked it out and it seems super helpful for automating those tedious tasks. Congrats on the launch! Looking forward to seeing how it helps streamline the lending process.

I see the potential for this tool but why not add a feature to automate more complex financial analyses, also sometimes it's scary to think about relying so much on AI to handle such sensitive data, maybe more customization options would help users feel more in control?

Hi Jamie, AutoSpread sounds like a much-needed solution for financial document handling. Congratulations on the launch! Regarding handling variations in financial statement formatting, how does AutoSpread ensure accuracy? Additionally, which languages are currently supported?

So now we're trusting an algorithm to handle our financial statements, seems a bit risky, don't you think, where's the human touch, the oversight, the accountability, I'm all for tech but this feels like inviting trouble, 🤔

I can see how having clean and structured data straight from uploads could save time, but isn't relying on automation risky for sensitive financial info, what if it misinterprets something or there's a glitch, feels like putting a lot of trust on a system that might not always get it right

Heron’s ability to handle various file formats and rapidly process financial statements is impressive.

I’m all for anything that makes working with management accounts and balance sheets easier. This looks super efficient.

I’m interested in trying this out. How customizable is the output format for different types of financial documents?

The ability to ingest files from multiple sources, including email and API, is super convenient. Plus, the structured output in formats like CSV and JSON makes it even easier to integrate into our existing systems.

My data scientist friends would love this