P&L Statement OCR

Enhance the effectiveness of your organization with Optical Character Recognition and machine learning. Scan and process 
Profit & Loss statements automatically and securely with Klippa.

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Improve your P&L statement processing

Our machine learning technology can automate many P&L statement-related business processes via our APIs and SDKs.
P&L statement scanning
Image quality detection and optimization
Image conversion to text, CSV, XLSX, XML and JSON with OCR
Data extraction on P&L statements
Classification of P&L statements
(Cross)validating P&L statement data
Workflow optimisation

P&L statement data 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 P&L statements.

Upload statement to the OCR API

The first step is providing a picture or a PDF file of one or multiple P&L statements. A statement can contain multiple pages. Usually uploading is done from a mobile app or a web application. Klippa automatically removes any background and corrects rotations.

If you do not have camera functionality in your app yet, the Klippa Camera SDK can help with scanning.

Image to text using OCR

The next step is converting the PDF or image into a readable text format using OCR. With OCR we get a text version of the document. Because we now have readable text we can move to the next step: getting structured data using machine learning.

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, the  information on P&L statements can easily be processed in your database. Of course other file formats like CSV, XLSX, XML and more options are available. 

The example on the left is a simplified example of a processed P&L statement. 
Reduce costs
Spend less time and money on processing P&L statements by using Klippa.
Improve speed
Improve processing speed to just seconds.
Reduce errors
Prevent manual data entry errors with high quality data extraction on P&L statements.
Prevent fraud
Automatically detect image editing attempts for fraud.
Which fields on P&L statements are extracted?
The required data on P&L statements can be different per business. Below, the default extracted data fields are listed, but any line item can be extracted upon request.
Document type
Image quality
Name and address of account holder
Date range
Revenue (or Sales)
Cost of Sales
Selling, General & Administrative (SG&A) expenses
Marketing and Advertising
Technology / Research development
Interest expense
Net income
Other line items
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Frequently Asked Questions

What does P&L statement processing cost?
The pricing structure for Klippa depends on the amount of fields and the scanning volume. Both pay per use and monthly licenses are available. Get in contact with our solution architects to get an exact quote.
What types of statements are supported?
Statements can come in many different languages, forms and have different requirements in other countries. Klippa can extract all information from P&L statements using OCR. We support all languages in the Latin, Greek and Hebrewalphabet

Did you know that apart from P&L statements, Klippa OCR can scan other types of financial documents, such as balance sheets, tax statements, VAT statements, or even remittance advices? Contact us for more information.
Is Klippa P&L statement capturing GDPR compliant?
All the services that Klippa offers are fully GDPR compliant. Not only do we have ISO certified servers within the European Union for processing, we can also set up servers in other countries to conform to local legislation. A data processor agreement is in place. We do not store any of your or your customers’ data after processing.
Is extraction of P&L statement lines supported?
Yes. Klippa can extract general statement data, as well as line item data. Optionally we can even divide lines into specific (risk) categories. 
How long does processing P&L statements with OCR take?
The speed of processing depends on the amount of pages and the document type. In general, processing a statement of up to 3 pages takes less than 5 seconds. The more pages, the longer processing will take.
Can Klippa convert P&L statements to CSV, XLSX, XML or JSON?
Yes we can. Klippa takes pictures of P&L statements, 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 P&L statements to CSV, XLSX or XML.

When to automate P&L statement processing

The automated processing of P&L statements using OCR and machine learning is mostly used for market research, financial analyses and competitor analyses. At Klippa we help companies in these sectors by providing them with plug and play APIs and SDKs for document processing. Our software enables you to focus on your core business, while we take care of the head ache of data entry.
Please feel free to ask all your questions.
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