How to Spread Financial Statements Faster with Better Data Collection

Your financial institution has made a significant investment in its financial monitoring workflow. The latest credit spread software and a well-trained credit analysis team are just two of the safeguards that you’ve implemented to proactively monitor each commercial borrower’s ability to repay. That being said, there’s still one piece that is slowing you down: your process for tracking and managing customer data. After all, you can’t analyze data that you don’t have. In this post, we’ll explore why missing customer data is a major problem for banks and credit unions of all sizes—and steps for streamlining data collection to spread financial statements faster.

Why Manual Ticklers Inhibit Data Collection

69% of the bankers that we surveyed rely on manual document tracking processes, such as standalone ticklers and spreadsheets. Although better than handwritten notes, such solutions are still heavily dependent on manual data entry, which frequently leads to oversights and unreliable data. Furthermore, ticklers and spreadsheets cannot simplify customer outreach and engagement. Credit and loan admins must spend untold hours preparing reports just to identify customers who require follow-up. Once identified, time-consuming mail merges and one-off emails consume precious hours, further delaying your financial spreading. Simply gathering customer documents can feel like a full-time job—before a single financial spread is performed. So, how can credit analysts keep pace with mission-critical analysis when plagued by inefficient document tracking processes? The simple answer is they can’t. Not at scale, anyway.

Simplify Data Collection with AccuAccount

Unlike manual ticklers and spreadsheets, AccuAccount is an all-in-one document tracking solution that’s built specifically for modern financial institutions. Trusted by more than 15,000 bankers across North America, AccuAccount creates a scalable document tracking and collection workflow, enabling credit analysts to stay focused on what they do best: spreading financial statements. AccuAccount’s built-in exception management tools automatically track important dates and requirements, providing an at-a-glance view of each customer’s missing and expiring documents.

Customer view in AccuAccount

Management reports provide institution-wide exception insights to help lenders and administrative staff stay one step ahead of upcoming and past-due data collection responsibilities. Rather than waiting until documents are missing, your team can proactively engage customers to collect data sooner (and with less effort). Integrated notice letters, email follow-ups, and document portal integrations simplify outreach, reduce administrative work, and enhance customer satisfaction.

Tax return document that is being uploaded to a bank document portal

Built-in task management features create a highly efficient and transparent workflow for your credit analysts and supporting staff. Once a customer document has been received, AccuAccount task groups can automatically assign tasks to team members with a single click. Spread financial statements faster by holding staff accountable with an intuitive task management workflow that’s built specifically for credit analysis teams. And, integrations with leading credit analysis and spread software make it easy for credit analysts to import documents back into AccuAccount. No more time spent downloading, uploading, and organizing files in multiple systems. AccuAccount ingests your financial spreads and puts them where they need to go.

Maximize the ROI of Your Spread Software by Spreading Financials Faster

Even the most powerful spread software encounters limitations when used in tandem with a subpar document tracking and data collection workflow. Maximize the value of your financial spread software by streamlining your document management and customer outreach processes.



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