Balance Sheet Analysis Tool
Balance Sheet Analysis tool is a must-have tool for Bankers, Auditors and a third-party vendor who works for Bank. Balance Sheet Analysis Tool help’s to convert the dirty scan image pdf file into meaningful data. In this blog, we will try to understand how the Balance Sheet Analysis tool works on PDF. How to use it, it benefits, prons and cons and everything else. If you know everything about the balance sheet analysis tool you can directly go to the Analysis tool Just click over here. or Visit https://balancesheet.techaroha.com Major problems with Balance Sheets PDF Before going to problems let me tell you to balance sheet is the must-have a document for Business Loan Application. Business loans like Working Capital, Fixed Capital, Office Loan, Overdraft Limit all require To understand the problems with Balance Sheet analysis of PDF copy lets understand the current process of Balance Sheet Analysis by Banks Existing Process 1. Scan Images of Balance Sheet in PDF Format Bank receives thousand of loan applications(Just considering Business Loan other loans)on a daily basis. And with every loan application Bank receives a Balance Sheet of the Company. CA prepare and signed the balance sheet for the Company. Afterward, the Balance Sheet is scan and then sent to the bank for the loan approval in PDF Format. These scan files are difficult to read and not searchable. The worst part for ratio analysis and loan approval all the pages are not required. Well, few balance sheets of big companies are in text format and easily searchable. But they are very rare and contain 100-200 Pages. And banks just need 4 pages out of that. 2. Shortlisted the files for Ratio Analysis This work is hectic since we can’t search from the image file. But still, we have to do it because it’s important. Those 3 files especially Balance Sheet, Profit and Loss, and Cashflow are very important for loan approval. It’s the most difficult part. Bank just needs 4-5 Pages out of those 50 Pages. They ask the third party or the staff to dig our important pages from the balance sheet. 3. Extract data from Balance Sheet Now we have the shortlisted pages from which data needs to be extracted regarding companies’ finances. This step takes most of the time in the complete process of Balance Sheet Analysis. But still, banks need to this for loan processing. In the process bank employees or third part, manual read figures from scan pdf file. Then he enters the data in the excel sheet. Later on this excel sheet is for credit analysis or ratio analysis. This excels many times is directly entered into the credit rating software. Problems with existing above process Though I have just mentioned 3 steps it takes around 4 hours to complete the process. Sometimes more than that if the company is big. Process of shortlisting takes around half an hour(3o minutes) if the user is highly trained with all the Notes to Accounts. Then the user manually enters data which takes around 2-4 hours. So we can say, the existing process has following drawbacks New: Balance Sheet Analysis Tool for 2020 Balance Sheet Analysis Software develop by Techaroha is a very very simple and powerful tool. Just upload the pdf, get the excel data. All this is just 2 minutes. Post this you will have to review for AI error if any. After review just submit the excel sheet for ratio analysis. Well, don’t worry we will discuss in detail how this work and why this is so useful for the credit industry. Let’s see how this Balance Sheet Analysis Tool Work Register to gain free access Actually there is no need to explain this step. But still, for your convenience, I will try to explain. Just open the link Registration for Balance Sheet Analysis. Enter Email Address, Name, and Password. You will receive a confirmation email. Approve the email and you are good to go. Upload the Balance Sheet Scan Image PDF You might have recieve the balance sheet in PDF format from your customer or businessman seeking a business loan. That image could be a text pdf or scan images with the signature of CA. Just upload the file on the screen. You can you drag and drop option or use select from the browser option. But please remember one thing over here. Uploading may take around 20-50 seconds. It mostly depends on the size of your pdf and the number. And also your internet speed. Wait for getting shortlisted PDF As soon as you upload the pdf, the status becomes pending. You will see tabs. The first tab is for Shortlisted PDF and another tab is for tabular data from pdf. When we get the balance sheet statement in pdf format it has many pages from 30-400. I know it sounds strange but it’s true. As a banker or auditor or finances, we just required 3-4 pages of statements and few pages of Notes. Since the balance sheet has many other pages, this balance sheet analysis tool filters out the pages and gives us the pages which are of most important. These filtered pages are combined into the single pdf. Which is available for download from the shortlisted pdf tab. This shortlisted page is just for your review in case something goes wrong. Get Balance Sheet Data in tabular format Once the system filters out the pages, it starts processing those pages. In the process, it identifies the table and number’s in it. The AI, ML logic identifies the tabular structure and renders it in an HTML table with almost 90+% accuracy. This balance sheet analysis tool identities tables and number and particulars from this 3 pages There scan Balance Sheet PDF has more pages containing tabular data with values. But as of now this tool only filter out those pages. It doesn’t work their tabular data. Get the data in Excel Format from Balance Sheet Analysis Tool This is the most