Last updated on
Dec 19, 2024
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Extract Data from Financial Statement using an AI-assisted platform with pdfFiller
Extracting data from financial statements using an AI-assisted platform can greatly enhance accuracy, efficiency, and productivity in managing financial information. This guide provides insights into how pdfFiller can streamline this process.
What is extracting data from financial statements?
Extracting data from financial statements involves converting printed or handwritten financial documents into digital formats that can be analyzed or manipulated by software. This process typically includes identifying key figures such as revenue, expenses, and profits to support decision-making.
How does AI-driven extraction improve document workflows?
AI-driven extraction automates the process of identifying and pulling relevant data from financial documents, which significantly reduces manual entry errors and time spent on document processing. It allows for quick access to information and enhances the ability to perform data analysis, thus improving overall workflow efficiency.
Features in pdfFiller that enable data extraction
pdfFiller comes equipped with various features that facilitate seamless extraction of data from financial statements. Key functionalities include AI-powered data recognition, easy document integration, eSign capabilities, and cloud-based storage.
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AI Data Recognition: Automatically identifies and extracts key information such as totals, line items, and text.
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Integration Support: Easily upload financial documents in multiple formats such as PDF, DOCX, and others.
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eSign Functionality: Allows users to securely sign and share extracted documents in a digital format.
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Cloud Storage: Access and manage documents from any device, anytime, ensuring always-updated information.
Step-by-step: using AI to extract data
To utilize pdfFiller for extracting data from financial statements, follow these steps:
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Log into your pdfFiller account and navigate to the dashboard.
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Select 'Upload Document' and choose the financial statement you want to extract data from.
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Use the AI extraction tool to specify the data fields of interest.
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Review the extracted data for accuracy and make any necessary corrections.
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Save the file or share it through email or other integrated platforms.
Editing and refining AI-created outputs
After the extraction process, users can easily edit and refine the data using pdfFiller’s PDF editing tools. This includes adding annotations, correcting errors, or formatting the document for presentation purposes. The flexible editing options ensure that final outputs meet specific requirements.
How to share and distribute AI-enhanced documents
Once the financial data has been accurately extracted and edited, pdfFiller allows you to share documents efficiently. You can send documents via email directly from the platform or generate shareable links for stakeholders and team members.
Common scenarios and business applications
Various industries can leverage the capabilities of AI-assisted extraction, particularly those involved in finance, accounting, and auditing. Typical scenarios include streamlining yearly financial reporting, automating accounts payable and receivable tracking, and preparing documents for tax submissions.
How does pdfFiller compare to other solutions?
When comparing pdfFiller to other AI-driven platforms, users may find that pdfFiller offers superior ease of use and integration capabilities with existing tools. The real-time collaboration feature and extensive document management options enhance productivity compared to other solutions on the market.
Conclusion
Extracting data from financial statements using an AI-assisted platform like pdfFiller improves accuracy and efficiency in document management. With advanced features and user-friendly tools, pdfFiller stands out as a powerful solution for teams seeking to streamline their document workflows. By leveraging AI assistance, users can focus on analysis and insights instead of manual data extraction.
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Let PDF AI do the heavy lifting
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Quickly prepare docs for signing
Let AI detect signature fields and assign them to the right recipients. Whether it’s contracts or forms, everything will be ready for signing in seconds.
OCR scanned documents
Use PDF AI for quick text recognition and turn scans into editable documents. Revise paperwork, extract key details, and edit scans without headaches.
Restore scanned documents
Transform your roughest scans into clear, high-quality documents. Retrieve content from faded or low-quality scans to ensure that important information stays accessible.
Summarize content to save time
Why slog through lengthy reports and agreements when you can get a quick summary that highlights the important stuff? Focus on the essentials!
Translate PDFs on the fly
From international sales pitches to contracts and e-books, translate content in any language without leaving your PDF reader.
Ask PDF AI anything
Need to locate a clause in a contract or specific findings in a lengthy research paper? Chat with PDF AI and get instant, relevant answers about documents.
Search smarter and faster
No more wasting time digging for the right doc. Use advanced contextual search to pinpoint the exact document, form, or template in your account, pdfFiller’s library, or on the web.
How to simplify complex processes with AI
1. Access the AI-powered editor
Upload a document or start with a blank canvas in pdfFiller.
2. Chat with AI
Ask the AI assistant to clarify or summarize content, improve your scan, or prepare a document using quick prompts.
3. Done!
Once finished, download, export, share, or send a document for signature.
Who needs this?
Explore how professionals across industries handle PDFs using AI.
Healthcare
Streamline the creation of patient intake forms, consent documents, and medical history questionnaires with AI. Use AI-powered OCR to digitize and restore scanned medical records, making them editable and easy to store.
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Patient intake forms
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Medical history questionnaires
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Consent and release forms
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Insurance claims
Real Estate
Create property agreements, lease contracts, and disclosure forms with AI to ensure accuracy and professionalism. Let AI detect and assign signature fields to buyers, sellers, and agents, speeding up the signing process and reducing errors in property transactions.
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Lease agreements
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Purchase contracts
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Property disclosure forms
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Mortgage applications
Legal
Digitize and restore scanned legal documents like affidavits or court filings, making them editable and easy to share. Summarize lengthy contracts or case studies to quickly identify key points, saving time during document reviews.
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Contracts and agreements
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Non-disclosure agreements (NDAs)
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Affidavits
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Court filings
Education
Generate student enrollment forms, permission slips, and academic reports with AI to reduce administrative workload. Translate educational materials on the fly to support students from different countries and ensure accessibility for everyone.
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Enrollment forms
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Permission slips
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Academic transcripts
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Research papers
Finance
Digitize and restore scanned receipts, invoices, and bank statements for seamless record-keeping. Summarize complex financial reports to simplify data analysis and focus on important insights and decision-making.
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Invoices
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Tax forms
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Loan agreements
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Financial statements
Human Resources
Create offer letters, employment contracts, and performance review templates with AI to maintain consistency and professionalism. Let AI detect and assign signature fields to new hires, ensuring a smooth and efficient onboarding process.
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Offer letters
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Employment contracts
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Performance review forms
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Employee handbooks
More than an AI PDF editor
Complete document management
Create and edit PDFs, collect data and signatures, collaborate, and keep files secure in the cloud. With pdfFiller, you can take care of all your document needs in one place.
Perfect for individuals and teams
Users love pdfFiller because it’s easy to use, versatile, and reasonably priced. For teams, it offers a secure space to collaborate, share, and track documents more efficiently.
Designed with security in mind
pdfFiller ensures compliance with industry standards such as HIPAA, SOC 2 Type II, and PCI DSS by introducing data encryption, signer authentication, and other safeguards.
pdfFiller scores top ratings on review platforms
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What businesses achieve with pdfFiller
Discover how you can benefit too.
Can you use AI to analyze financial statements?
Empower financial analysts with C3 Generative AI for Financial Analysis, a solution designed to rapidly extract insights from diverse financial data sources. Quickly analyze complex documents, financial statements, and structured market data, enabling faster, data-driven decisions that drive performance.
Which AI is best for extracting data?
Rossum is a top AI-powered Intelligent Document Processing (IDP) platform. Rossum makes document processing easier by extracting and validating data from complex business documents, including invoices and insurance forms, without relying on per-supplier templates.Jan 15, 2026
Can ChatGPT analyze financial statements?
Yes, ChatGPT can analyze financial statements to find trends, calculate ratios, identify anomalies, and generate summaries, significantly speeding up tasks like variance analysis and forecasting, but human oversight is crucial for verifying accuracy and making final judgments. Users can paste data or use file uploads (with paid versions/custom GPTs) and prompt it to generate insights, build models, or draft reports, though data anonymization and fact-checking are essential steps. What ChatGPT can do Identify trends & anomalies: Spot unusual changes or patterns in data that need human investigation. Ratio Analysis: Quickly calculate profitability, liquidity, solvency, and efficiency ratios, and explain the concepts. Summarize & interpret: Generate executive summaries and explain complex financial data in plain language. Assist with modeling: Help create formulas, build budget templates, and perform scenario analysis. Generate reports: Draft narratives, variance explanations, and presentation content. How to use it effectively Data Preparation: Anonymize company-specific data before inputting it. Prompting: Use detailed prompts (e.g., "Act as a financial analyst") or use custom GPTs for specific tasks like calculating ratios across multiple years. Input Methods: Copy/paste data directly or upload files (for paid/custom versions). Verification: Always have a human analyst fact-check and validate the AI's output, as it can make errors. Key takeaway ChatGPT is a powerful assistant that boosts productivity by handling data-heavy tasks, but it's a tool to augment, not replace, human financial expertise for crucial decision-making. For financial advice, consult a professional. 14 Best Ways to Use ChatGPT for Finance - TipaltiChatGPT can analyze financial data, including expenses and financial statements (income statement, balance sheet, and cash flow stTipaltiThis Hidden AI Tool Analyzes Financial Statements in SecondsAug 31, 2025 — in this video I'm going to show you how to analyze real financial statements in seconds with AI. all you need to do isYouTube · Kenji Explains
How to extract data from financial statements?
How do businesses traditionally extract data from financial statements? The two most common ways businesses extract data from financial statements are manually or using traditional optical character recognition (OCR).