StatementReader Software Information

StatementReader was launched in 2012 as an accurate and reliable application which automatically converts scanned original bank statements into a spreadsheet format. It is used by forensic accountants, insolvency investigators, solicitors, auditors and business review professionals, to solve an otherwise time-consuming challenge – the manual input of 100s of pages of bank transactions. Typically, in this field, many hours of every working week are spent manually inputting paper bank statements into spreadsheets, manifesting an inefficient working model that the StatementReader founders realised could be solved with technology. Responding to the challenge, first, an ordinary office scanner is used to save the pages in PDF or TIF format. StatementReader then processes the scanned file, producing a Microsoft Excel or CSV file containing the financial transactions in a columnar format, where each row represents one transaction. Processing bank statements at 500 milliseconds per page, it takes approximately 50 seconds to convert 100 bank statements to Excel, meaning StatementReader creates an efficient practice that allows insolvency, legal or forensic teams to spend their time analysing data rather than inputting it. Saved locally to a desktop, meaning it is an entirely secure solution that won’t be vulnerable to data breaches, StatementReader is compatible – and provides built-in layouts for – statements from all major UK, USA and Australian banks, as well as many others. It also features a simple tool to create and save new bank layouts in under one minute. Visit www.statementreader.com to find out more.