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Entera Global redefines bank statement processing with AI-Driven Software

By Gloria Mathias

February 01, 2024

  • Artificial Intelligence
  • Axis
  • Bank of India

Entera Global, Banking Technology, Bank Processes, Bank Statements Processing, Artificial Intelligence, Fintech News, Fintech solutions, India, India Fintech news, India NewsEntera Global, an AI-driven software solution for accountants, has announced a feature for its product, Entera. This latest enhancement empowers users to effortlessly import any bank statement into Tally, streamlining financial processes and reducing the manual workload for accountants.

The absence of a standardised format for bank statements has posed a significant challenge for accountants, requiring meticulous manual verification. Entera’s solution adeptly recognises bank statements in various formats, including PDF and Excel, executing auto-ledger and smart splitting processes to enhance accuracy and efficiency.

Entera’s AI algorithm ensures precision in current tasks and memorises user ledgers for future actions, resulting in accelerated processing times. To guarantee utmost data accuracy, professionals are encouraged to provide final confirmation after the automated processes. Company developers estimate that this feature will allow the processing of bank statements on average five times faster, significantly improving operational efficiency.

This advanced feature extends its support to statements from major banks in India, including the State Bank of India, AXIS, Bank of India, Canara, HDFC, ICICI, Indian Bank, Kotak, Punjab National Bank, Samruddhi Bank, UCO, Union Bank, Bank of Maharashtra, and others.

Nik Kruts, Chief Business Development Officer at Entera Global, stated, “Entera’s commitment to efficiency is reflected not only in recognising diverse statement formats but also in its compatibility with all Tally versions. We continually enhance our product based on feedback from practising chartered accountants. The main innovation lies in avoiding one-by-one document processing and enabling massive actions. As a result, Entera becomes a multifunctional service capable of addressing any accountant’s document-related challenges.”

Dima Makhlin, Co-Founder of Entera Global, said, “At Entera Global, our mission is to empower accountants with tools that alleviate manual burdens and enhance productivity. The ability to seamlessly import bank statements into Tally represents a significant step towards achieving this goal. We understand the challenges faced by accountants dealing with diverse statement formats in India, and our solution aims to streamline these processes effectively.”

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