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Asset managers require financial statements (and annual and quarterly reports) to complete an in-depth analysis of a firm’s securities. Successful valuation involves identifying key data points, such as operational costs, assets, liabilities and debts.
However, manual data extraction is time-consuming for portfolio and fund managers. Locating and copying data into a spreadsheet is a poor use of resources. Conversations with our clients indicate that many asset management firms rely on their employees to spend hours inputting and validating data.
Furthermore, manual errors, if uncorrected, can also misrepresent a fund’s performance, potentially compromising decision-making. Yet the best solution is not asking employees to double-check data.
Evolution AI is pleased to release a financial statement extraction solution for asset management. Financial Statements AI expertly parses balance sheets and income statements, identifying and recording the required data. The outputted data is structured, normalised and accurate.
Evolution AI’s solution cuts data extraction time from hours to seconds. Asset managers can access validated company data ready for processing, including key data points like gross profit, OPEX, EBITDA, EBIT, and levels of short- and long-term debt. In subsequent versions, asset managers will have access to key metrics like liquidity ratios, profitability ratios, efficiency ratios, leverage ratios, valuation ratios and cash flow metrics.
One of our clients - the Swiss Asset Manager, Unigestion - used our technology to halve completion time while improving data quality.
