You can get your extractions for uploaded bank statements back 10 times faster as an ePDF versus scanned paper statements for supported banks.
What is an ePDF?
An ePDF is a PDF file that originates from a digital source; essentially any computer-generated PDF.
📌TIP: If you obtain statements from your online banking platform or receive them via email directly from the bank, they're considered an ePDF.
Any paper-based statements or data that are scanned, photographed, or converted into a PDF file are not considered ePDFs. These are just images of the original document saved as a PDF and will be extracted and processed as such by AutoEntry.
What is the benefit of uploading an ePDF?
AutoEntry uses a bespoke digital extraction for ePDFs that doesn't require Optical Character Recognition (OCR). This speeds up the extraction process.
When you upload a scanned paper document we process approximately 80% of those files within 4 hours primarily, depending on server load, file size, and scan quality. Our system scans the documents, the data is extracted via OCR, and the figures are verified.
With an ePDF, the data is read from the code embedded within the file. This removes the requirement for OCR and verification. This means the turnaround time for an ePDF upload has the potential to complete up to 10 times faster.
Supported banks
Currently, AutoEntry has over 600 banks and card providers already set up to digitally extract ePDFs.
Each time AutoEntry receives an ePDF from a bank or card provider that we have not set up for digital extraction, AutoEntry processes those files as normal and adds them to our data set for digital extraction going forward.
📎NOTE: Supported banks change quite regularly as we add new banks to the system and update those that have changed their file formats. Due to this, AutoEntry can't guarantee that every time a statement is uploaded as an ePDF it will be digitally extracted.
Related guides