Moody’s Analytics is pleased to introduce a new tool that helps financial institutions automate the spreading of financial statements for better, faster decision-making. The Moody’s Analytics QUIQspread™ tool leverages machine learning and an intuitive user experience to significantly speed up the highly manual financial spreading process.
“Financial institutions are constantly looking for ways to reduce the time and resources spent on the spreading process without sacrificing quality of data,” said Keith Berry, Executive Director of the Moody’s Analytics Accelerator. “Our tool’s functionality goes beyond traditional automation software by leveraging machine learning to understand an institution’s financial data spreading policies.”
Available globally, the QUIQspread tool is built on an advanced and secure technology stack that leverages the extensive data resources and financial spreading expertise of Moody’s Analytics. It has been pre-trained using a robust set of private company financial statements to provide users with immediate efficiency. The tool reads uploaded financial statements and maps financial data to a standard chart of accounts. The intuitive design simplifies the quality control process and allows users to adjust their results.
The QUIQspread tool seamlessly integrates with the Moody’s Analytics CreditLens™ platform, a complete credit-lifecycle management solution. Users of the CreditLens solution can run financial statements through the QUIQspread tool without leaving the platform.
The QUIQspread tool is part of the Moody’s Analytics Knowledge Services (MAKS) Business Excellence and Automation Tools (BEAT) initiative, which is designed to equip the financial services ecosystem with innovative, market-leading technologies. Click here to learn more about the QUIQspread tool.
Source: Moody’s Analytics