For Tiresias S.A., IID implemented an automated data extraction system for financial statements prepared under Greek Accounting Standards (ELP) and International Accounting Standards (DLP), as well as corporate announcements from GEMI, transforming large volumes of complex documents into structured, actionable information. Processing financial and corporate documents is a demanding task, particularly as data volumes increase and information needs to be available consistently, quickly and accurately.
As part of its collaboration with Tiresias S.A., IID developed an automated data extraction solution for financial statements under ELP and DLP, as well as corporate announcements from GEMI. The goal was not simply to digitize documents, but to transform the information they contain into structured data that can be directly used across business systems and analytical processes.
From 5,000 to 20,000 Financial Statements per Month
The numbers reflect the evolution of the solution.
To date, approximately:
- 100,000 ELP & DLP financial statements
- 70,000 corporate announcements
have been processed.
At the same time, processing capacity has increased significantly since the project began. From approximately 5,000–6,000 financial statements per month, the solution has now reached a production capacity of around 20,000 financial statements per month. This evolution is not simply about handling greater volumes. It demonstrates the ability of an automated solution to scale and respond to the real-world needs of an organization.
When Automation Becomes a Real Business Capability
The solution combines OCR and Intelligent Document Processing, supported by specialized templates and quality-control mechanisms. This enables information contained within documents to be identified, extracted and standardized for further use. For ELP financial statements, the current successful automation rate stands at 60% per document, while the remaining information is completed with user involvement, with users correcting or completing the data where required. For corporate announcements, the results are even more significant: in the categories where implementation has been completed, automation reaches 100%, with no human intervention required.
From Document to Actionable Data
The value of such a solution lies not only in processing speed. It lies in the ability to transform large volumes of unstructured or complex information into structured data that can be integrated into credit scoring and business analytics systems. In this way, technology acts as a bridge between the content contained in documents and the business decisions that depend on it. And as the volume of information increases, the importance of automation becomes even greater.
Accuracy Is More Than a Matter of Quality
In environments where data is used for financial assessment, business analysis and decision-making, information quality becomes critical. Automation, therefore, is not simply about reducing manual work. It enables an organization to process greater volumes of information with consistency, speed and controlled quality. The collaboration between IID and Tiresias S.A. is a strong example of how OCR, Intelligent Document Processing and AI-based Data Extraction can transform document processing from a demanding manual task into a scalable, automated business capability.
Because Accuracy Is Not Just a Quality Requirement.
It Is a Prerequisite for Operations.
