Speed up financial reporting with our new statement scanning tool
For accountants, lawyers, and other professionals working with clients’ financial data, combing through bank statements is a lengthy, arduous task that gets in the way of the more fulfilling parts of your role.
If you’re assessing a client’s financial position for anti-money laundering, affordability or investigations, you need to obtain and understand their financial data quickly, but this can be challenging. Despite the popularity of open banking in recent years, many clients are still unable to use these platforms. This may be due to a lack of access to their account or because their banks don’t support open banking. This means that accessing and analysing this critical financial data is still frequently gruelling.
Our brand-new statement scanning tool lets you quickly and easily scan your client’s bank statements and get the full picture of their financial position in moments. A more efficient process for your client and more valuable time back for you.
If you’re working as a lawyer, this can speed up the process of a client’s case, making a challenging time that bit easier. For accountants, statement scanning can give you even more confidence that you’re delivering results with maximum precision.
“By being agnostic to the source of the bank data, we really are the one-stop shop for firms to organise and analyse their clients’ financial data,” our CEO Richard McCall said. “As pressure grows to automate systems and bring statements online, we bridge the gap and turn statements into intelligent and effective reports.”
Some professionals have already adopted the technology and are seeing its impact, including Sam Shepherd, Director and Insolvency Practitioner at LBK Insolvency, who said: “By utilising Armalytix’s bank statement scanning tool, we’ve significantly reduced the time spent manually imputing and reviewing bank statements. The detailed analytical output Armalytix produces once reconciled enables a more efficient way of reviewing transactions, improving our overall productivity, especially when it comes to our investigations”.
Combined with our wider suite of features and tools that help you access and assess financial data, statement scanning will help you analyse the exact data you need to do your job, no matter how your clients choose to provide it.
Get in touch to discuss how you can use statement scanning to simplify complex financial data and streamline your reporting process.
