Problem:

Financial institutions must accurately capture and maintain key records for partnership interests (e.g. disclosures, income, deductions, and credits)  K-1 documents to comply with tax reporting standards.  K-1 forms are typically submitted as PDFs so the data capture process tends manual, error-prone and costly to operate thereby unnecessarily exposing the firm to data quality issues and financial / tax reporting errors.

Solution:

  1. Index and create metadata for K-1 documents yielding  immediate search capability
  2. Map and classify documents to locate key terms
  3. Create instantly exportable structured data sets

Value Created:

The utilization of Pendo to digitize K-1 documents and automate the capture of key data against reporting standards dramatically improved our client’s process capability while reducing the cost of compliance by creating structured data ready for straight-through processing to the System of Record.