Digital Products and Services

Cora LiveSpread

Multiple languages and different formats make for error-prone financial data

It's not easy to get numbers ready for analysis. Your customers send you their financials in many ways and formats, from data exports to paper statements. They also use their own language, whether it's Spanish or Mandarin. Spreading these financial statements is often a painstaking, manual process of data entry or copy-and-paste that ups the risk of mistakes.


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Cora LiveSpreadTM solves the problem

Cora LiveSpread's artificial intelligence speeds up your financial spreading for commercial underwriting and risk management by automating each step of the way. No more tedious and error-prone manual entries necessary. What's more, Cora LiveSpread helps you analyze the data to make faster, smarter credit decisions. You get quick, fully auditable insights that you can easily trace back to the source. You also get faster cycle times, higher underwriter productivity, improved compliance, and better operational consistency. Cora LiveSpread makes it easier to calculate financial risk—while taking fewer risks of your own. By automating your spreading process, you can do things better, faster, and more consistently. All of which can cut costs by up to 70%.

What Cora LiveSpread offers . . .

  • The Automated Receiver lets you and your customers upload documents, whatever their format—spreadsheets, PDFs, or even scanned paper—all through a custom web portal. The tool can also pull data automatically from online accounting systems like QuickBooks, Great Plains, SAP, and Oracle Financials.
  • The Automated Extractor uses advanced document and image processing algorithms to import the right numbers from the right places into the right format—in a way that's easy to trace back to the source. It recognizes characters by shape and converts them into a digital format. And it's even smart enough to pull numbers from tricky places like images and footnotes. You control how it pulls the data. And you can customize rules for doing so by client, industry, and more. This helps you comply with finance regulations for different company types, industries, and countries.
  • The Automated Normalizer applies machine learning and natural language processing to normalize numbers, which gets them ready for an analyst. It puts everything into the right template, with decimal and currency symbols exactly where they're supposed to be. It can even group data by industry, sector, and type of financial statement, then apply the right analytics models accordingly. If the Normalizer comes across something it doesn't recognize—say, because of a poor-quality scan or an unusual character—it flags the problem for analysis. After an analyst tells it what to do, the Normalizer learns and will remember this for next time.

. . .and what it delivers

  • It can grow your business: With Cora LiveSpread, your operating model stays stable. You can power through more data with the same number of people or easily handle volume spikes during busy seasons. So, you can take on more customers—without an army of analysts.
  • It can do better work, faster: Cora LiveSpread can pull and format numbers in a fraction of the time it takes to do it by hand. Your analysts can get to work more quickly, and our tool is less likely to make a mistake. It's a winning formula: Work quality goes up. Workload goes down.
  • It keeps everyone in step: In finance, there are a lot of rules and regulations to follow. Cora LiveSpread learns and remembers all the fine print, which means you spend more time analyzing data instead of double-checking the inputs. But if you do need to check something, you're always a click away from the source.