Innovative Input System for Enhanced Data Quality
We proudly introduce our self-developed input system, designed to optimize fundamental data collection processes and enhance data quality. By leveraging a standardized chart of accounts, our system simplifies posting, maintains consistency, and performs algorithmic quality checks.
Standardized Chart of Accounts
Our input system is designed to work seamlessly with a standardized chart of accounts, which simplifies the posting process and ensures consistency across all financial records.
Algorithmic Quality Checks
By incorporating advanced algorithms, our system performs quality checks on each posted item, ensuring accuracy and preventing errors in your financial data.
Our input system follows a methodical approach, enabling businesses to maintain a high level of data quality and consistency in their financial management processes.
As a result of our meticulous quality checks and standardized approach, our input system guarantees the highest level of data quality, allowing businesses to make informed decisions based on accurate financial information.
Our 5 Data Collection Approaches
1) original sources
Our team only uses publicly available, primary sources for all data. Especially financial reports like balance sheets, income statements, and cash flow statements. By avoiding third-party sources, we have complete control over the quality and accuracy of the information we provide.
2) complete digitization
We merge human comprehension and computer algorithms like the topological sorting to provide optimal data process solutions. Our custom software efficiently extracts information from business reports and identifies important details like sums and hierarchies. The result is original data presented exactly as it appears in the source in one single point of truth.
3) systematic monitoring
We simplify not only the data collection but also its standardization. Our software, co-designed by accounting specialists, is able to transform original data into a standardized format. Just like in an accounting department, our software allows us to book the original positions to our standardized account ledgers. So we are able track both easily. This enables systematic control and easy adjustments of all data.
For example: The cumulative key figures are calculated manually based on the underlying positions. No total values are booked from the original positions. If, the "total balance sheet assets" and "total balance sheet liabilities" don't match in the standardized version, it's a sign that there was a mistake during data entry or its standardization.
4) dynamic standardization
Our in-house accounting specialists and fundamental stock analysts have created a flexible, standardized structure that covers various accounting needs, allowing for easy company, country, and industry-level analysis and comparison. Despite its comprehensive nature, the structure is easily expandable for future improvements and modifications.
Ensuring data accuracy is an ongoing process. Our team swiftly incorporates new annual reports, which may be released yearly, biannually, or even quarterly, into our established framework to keep our information up-to-date and reliable.