Apryse Announces Acquisition of AI-Powered Document Toolkit Provider LEAD Technologies
By Riley Kooh | 2024 Feb 02
With virtually every institution moving towards digital record keeping, an audit process now demands cutting-edge solutions that can seamlessly integrate with the dynamic nature of electronic documents. This article discusses some key ways in which Apryse is changing the way financial institutions manage documents.
A digital financial audit refers to the examination and verification of an organization's financial information using digital tools and technologies. Traditional financial audits involve manually reviewing financial statements, transactions, and relevant documents. In a digital financial audit, technology is leveraged to streamline and enhance the audit process.
Digital audits integrate technology throughout the audit process. The use of digital tools provides auditors with deeper insights, automates mundane tasks with accuracy, and ensures a fool-proof approach to version tracking; enabling them to pose more informed questions to management and adding value to both the audited entity and stakeholders.
This is especially relevant given recent accounting standards (IFRS 9, IFRS 15, IFRS 16, IFRS 17), emphasizing granular data and well-defined automated processes.
Beyond operational benefits, the digital audit aids financial services companies in building trust by offering deeper insights into their operations.
The shift from traditional paper-based to electronic financial record keeping has introduced a vast array of challenges for auditors. Overriding centuries of traditional manual practices isn’t a task to take lightly. Just a few examples of roadblocks include:
That’s where Apryse comes in.
Apryse Software Development Kits (SDKs) are a developer-centric suite offering adaptable components for seamless integration with server, web, and mobile platforms. In just a few lines of code, these SDKs enable developers to embed sophisticated document processing tools without third-party dependencies, ideal for digital workflows requiring speed, security, and robust features.
While there are countless ways that Apryse’s SDK suite can benefit financial services; for the specifics of this blog, we will focus on highlighting just the key text editing features in the instance of digital audit processes.
For now, let’s dig in.
Auditors can directly edit text within PDF documents using Apryse’s text editing tools. This is useful for correcting errors, updating figures, or making clarifications within financial statements.
Use the text editing features to replace specific instances of text throughout the document. This is handy for updating information consistently across multiple pages.
Every text edit made can be annotated with details such as the auditor's name, date, and reason for the edit. This creates a transparent audit trail, ensuring accountability and compliance with regulatory standards.
Modify text formatting, such as font size, color, and style, to emphasize or de-emphasize certain information. This can help draw attention to key findings or changes in financial data.
Adjust text alignment and justification to enhance the document's visual appeal and readability. Consistent alignment can contribute to a polished and professional presentation of financial information.
Leverage smart algorithms within Apryse SDKs that assist in automatically adjusting surrounding content when making text edits. This helps maintain document layout and readability for high-volume review.
Apryse SDKs allow for precise text selection, making it easy to highlight and edit specific words or numbers. This level of precision is crucial when dealing with intricate financial details.
Ensure uniformity in text styles throughout the document, maintaining a professional and standardized appearance. This is particularly important in financial reports where consistency contributes to clarity.
If financial documents include form fields, Apryse allows auditors to edit form data seamlessly. This is useful for updating figures, dates, or any other information contained within form elements.
Make localized text changes for multi-language financial documents. Apryse’s text editing features support modifications across different languages, facilitating international auditing processes.
Implement validation checks after text edits to ensure that the modifications made align with predefined rules and standards. This helps maintain data accuracy and integrity.
In conclusion, Apryse SDKs revolutionize digital financial audits, offering interactive text edits, precise formatting, and robust features. Their adaptability empowers auditors, enhancing accuracy, accountability, and efficiency in financial document management.
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