Startup Idea: Automated Financial Data Extraction and Analysis Software

Startup idea to develop a software program that can automatically extract relevant financial data from 10-Qs and 10-Ks and convert them into an excel-friendly format. The software should also track and show the data sources and manipulation methods applied.

I work at a private equity firm that manages around ~$20 billion dollars.

When looking and modeling out companies from financial statements, it is generally a pain to flip through 10-Qs and 10-Ks and manually input data into excel.

As every company is different as well, I understand there must be somewhat of a human component behind this exercise but a software program that could go in and rip the relevant 3 financial statements and their items and place them into a useable format in excel would be ideal.

Also, ideally, the software would allow you to go back and see where the software pulled the data from and what things they added together to get to it.