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Moody’s Analytics Introduces an Automated Spreading Solution for Financial Statements

December 5, 2018

NEW YORK--(BUSINESS WIRE)--Dec 5, 2018--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.

About Moody’s Analytics

Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.

Moody’s Analytics is a subsidiary of Moody’s Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181205005782/en/

CONTACT: KATERINA SOUMILOVA

Moody’s Analytics Communications

+1.212.553.1177TRACEY SCOTT

Moody’s Analytics Communications

+44.207.772.5207GENE KIM

Moody’s Analytics Communications

+1.415.874.6000Moody’s Analytics Media Relationsmoodysanalytics.com

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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE SECURITY PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Moody’s Analytics

Copyright Business Wire 2018.

PUB: 12/05/2018 03:15 PM/DISC: 12/05/2018 03:15 PM

http://www.businesswire.com/news/home/20181205005782/en

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