The business need

The client, a Chicago-based audit and compliance firm, faced challenges in extracting key financial metrics, such as revenue, EBITDA, and net income, from high volumes of annual reports. The diversity of report formats and layouts made manual extraction slow, inconsistent, and prone to error. As reporting timelines tightened and accuracy expectations grew, the firm required a scalable solution to streamline financial workflows while ensuring precision and compliance.

Challenges

The client encountered multiple hurdles in achieving efficient financial reporting, necessitating a more intelligent and scalable approach:

• Manual data extraction through spreadsheets was time-consuming and prone to errors, slowing down reporting cycles.
• Financial data was fragmented across disconnected systems, making integration and consolidation a complex process.
• Annual reports arrived in diverse formats, including scanned PDFs and multilingual documents, making standardization difficult.
• Evolving financial regulations, such as IFRS (International Financial Reporting Standards) and GAAP (generally accepted accounting principles), required ongoing updates to ensure compliance.
• Generating customized reports for various stakeholders demanded significant manual effort and lacked agility.

XDAS approach

AI-powered financial NLP

XDAS leveraged AI-driven natural language processing to detect, extract, and contextualize key financial metrics from complex and varied annual report layouts, ensuring precision even with unstructured data.

Multi-source data integration

The platform unified financial information by integrating data from accounting tools, ERP (enterprise resource planning) systems, and report archives, breaking down silos and creating a comprehensive dataset.

Compliance-aware processing

XDAS embedded compliance aware logic to ensure that data extraction and processing aligned with IFRS, GAAP, and local financial regulations, keeping outputs compliant with evolving standards.

Customizable dashboards

Real-time, role-based dashboards were developed for executives, regulators, and analysts, providing tailored views of financial KPIs and insights to support informed decision-making.

Traceable and structured outputs

All extracted data was delivered as structured, traceable outputs linked back to the original document source, supporting transparency, auditability, and regulatory reporting.

Results

99% Accuracy

XDAS delivered over 99% accuracy in extracting key financial metrics, minimizing human errors, and ensuring consistent, reliable data across all reports.

Significantly faster processing

Automated workflows reduced the time needed for data extraction and report generation, accelerating decision-making and financial reporting cycles.

Seamless scalability

The platform supported enterprise-scale annual report processing, scaling effortlessly without extra manual effort or strain.

Cost reduction

Automation reduced operational costs by eliminating repetitive manual data entry, enabling teams to focus on higher-value, strategic tasks.

Regulatory compliance

Ensured outputs aligned with IFRS, GAAP, and local standards, lowering compliance risks and simplifying audits.

Customizable reporting

Enabled rapid creation of tailored dashboards and reports for various stakeholders, improving organizational responsiveness and insight delivery.