Mind the Gap: Company Data for a Digital World
By Rob Cossins on the 22nd February 2022Company Data
Despite advances in tech, company financial data still has a long way to go. Here we’ll cover the challenges and opportunities for those that get it right.
Company analysis hasn’t changed much in hundreds of years. Double-entry bookkeeping dates back to 1494, and the fundamentals are still the same today. We might be doing more accounting online, but what goes into it follows the same principles. Lenders and investors depend on this accounting data to make accurate decisions, supporting the flow of capital through the economy. The market has taken big leaps in modernising, with accounting platforms connecting SMEs directly to lenders, and eCommerce sites similarly. The future is bright for embedded finance.
Yet, there’s a gap. The reality for many medium-sized businesses (and larger) is that financial information is spread across multiple platforms, multiple entities and subject to adjustments. Data is trapped in PDFs, presentations or Excel models. For investors, it’s even less accessible — stuck inside company registries around the world.
Finance as an industry stores millions of PDFs and Excel models, monitoring performance and assessing opportunities. Imagine being able to standardise all of this information, into structured data, at scale. This unlocks opportunities from fast portfolio management and risk predictions to boosting business development.
With Scribe’s technology, organisations can convert any financial data (PDF or otherwise) into a structured financial model, all via API. Book a meeting with the team for a demo by clicking here.
Scribe is a data platform for company information, powered by research-based AI. Uncover deep insights about private companies and end data entry from PDFs. Welcome to the future of company knowledge.