Balance sheet OCR & data capturing
Enhance the effectiveness of your organization with Optical Character Recognition (OCR) and data extraction. Process information from balance sheets safely and quickly with Klippa. Powered by machine learning.
What we can do with balance sheets
Our machine learning technology can automate many balance sheet-related business processes via our APIs and SDKs.
Balance sheets scanning
Format conversion and scan quality improvement
Image to text and JSON with OCR
Data extraction from balance sheets
Classification of balance sheets and line items
(Cross) validating data points
Workflow optimization
Balance sheet extraction
An image speaks more than a thousand words. Below is an example of the three steps our OCR engine takes to automatically extract data from balance sheets.
Uploading balance sheets to the API
The first step is providing a picture or a PDF file of a balance sheet to our API. This is typically done from a mobile app or a web application.
The document can be sent cropped or uncropped (with background). If the scan is sent uncropped, the Klippa API will automatically crop the document. The Klippa balance sheet scanning SDK can also be used in mobile apps.
Image to text using OCR
As soon as a picture or PDF is received, it is converted to a TXT file by our engine. In this step all the text from the balance sheet is extracted, but not yet structured.
Getting JSON output from the API
The Klippa Parser takes the TXT gained from the OCR in step 2 and converts it into structured JSON using machine learning. The JSON is then returned as output from the API. From here, data from the balance sheet can easily be processed into your database.
Whether you are processing data from balance sheets for profitability analyses, competitor analyses, financial health analyses or company benchmarking, Klippa is here to help.
Reduce cost
Spend less on processing balance sheets by using Klippa.
Improve speed
Process balance sheets automatically within seconds. Perfect for financial analyses.
Reduce errors
Prevent manual data entry errors with high quality data extraction on balance sheets.
Prevent fraud
Automatically recognize errors, duplicates and fraud.
What balance sheet fields are extracted?
The default extracted data fields (checkmarks) and automated checks (locks) are listed below. These can be customized for each customer. Additional fields can be extracted on request.
Frequently Asked Questions
What does balance sheet OCR cost?What types of balance sheets are supported?What kind of clients are using Klippa?What languages does Klippa support?Is Klippa balance sheet processing GDPR-compliant?Can Klippa convert balance sheets to CSV, XLSX, XML or JSON?
What does balance sheet OCR cost?
The pricing structure for Klippa balance sheet capturing depends on the amount of fields and the document volume. Both pay per use and monthly licenses are available. Get in contact with our product specialists to get an exact quote.
What types of balance sheets are supported?
There are many different types of balance sheets in the world or even in one country. In general, we support all these types and forms. In case you wonder if we support a certain form or have any other question, feel free to contact us.
Can Klippa convert balance sheets to CSV, XLSX, XML or JSON?
Yes we can. Klippa takes pictures of the balance sheets, or their PDF equivalents, and converts them to readable text using OCR. From there we use machine learning to turn the text into structured data. Most of the time we use JSON for this, but depending on your preferences we can also convert balance sheets to CSV, XLSX or XML.
What kind of clients are using Klippa?
Klippa’s engine extracts as much data as possible from balance sheets via OCR and machine learning. We support many different types of clients, because our engine is so versatile.
It is most commonly used by clients in accounting, banking and investments for profitability analyses, competitor analyses, financial health analyses and company benchmarking.
It is most commonly used by clients in accounting, banking and investments for profitability analyses, competitor analyses, financial health analyses and company benchmarking.
What languages does Klippa support?
All European languages are supported. Our engine performs best on balance sheets in English, Dutch, Norwegian, Danish, Swedish, Finnish, Italian, Portuguese, English Spanish, German, Hebrew and French. Other languages can be supported on request, we’d just need to train our machine learning models.
Is Klippa balance sheet capturing GDPR-compliant?
All the services that Klippa offers are fully GDPR-compliant. By default, we use ISO-certified servers within the European Union for processing. If you are not located within the EU, we can also set up servers in a region of choice.
Next to that, a data processor agreement is in place. We do not store any of your or your customers’ data after processing.
Questions?
Please feel free to ask all your questions.
Get in touch by email, phone or chat!
+31 50 2111631
What is a balance sheet?
A balance sheet is a financial statement that reports a company’s assets, liabilities and shareholders’ equity at a specific point in time.
It offers a snapshot/summary of what the business owns and what it owes, as well as the amount invested by its owners, reported on a single day.
It is one of the three fundamental financial statements (next to the income statement and cash flow statement) and is used to gain insights into a company’s financial position.
Did you know that apart from balance sheets, Klippa OCR can scan other types of financial documents, such as P&L statements, tax statements, VAT statements, or even remittance advices? Contact us for more information.