PDPilot turns a borrower's PDF annual report into a standardized, reconciled spread: balance sheet, P&L walk-down and cash flow on one vocabulary, every figure traceable to the printed line, reviewed under dual control and delivered to your credit systems.
Financial spreading is the step in corporate credit where an analyst transfers a borrower's financial statements into the lender's own template: the same line names, the same order and the same sign convention for every company, so that ratios, covenants and ratings can be computed and compared. Every annual review, every new facility and every monitoring cycle starts with it.
It is still largely manual because annual reports do not look alike. Layouts, accounting regimes, languages, unit scales and column orders differ from issuer to issuer, and generic PDF tools return text, not a statement. So analysts key the numbers, re-check the totals and paste the result into a spreadsheet or a spreading module — hours per report, before any credit judgement begins.
PDPilot automates exactly this bounded stage. It does not replace the origination, decisioning or monitoring platform; it feeds them reviewed, structured financials.
From the PDF to a decision-ready spread — one governed cycle with a human confirming the inputs and approving the result.
The one rule behind every PDPilot figure: a total is the sum of the line items you can see underneath it. The report's printed total is read only to validate that sum. When the two differ, the difference is information — a line was missed, misplaced, or the report itself does not foot — and it is shown, not papered over with the printed number.
This is what makes the spread audit-proof. Any figure in a ratio, a rating or a memo can be expanded to the lines it was built from, and each line links to the exact spot on the source page. Extraction and derivation are deterministic rules, not generated text: the same PDF gives the same spread every time, and an audit or model-validation function can reproduce it.
The standard case: listed and unlisted issuers, consolidated or statutory statements, any of the eleven languages above, any European GAAP or IFRS presentation.
Image-only pages — register scans, rasterized filings, outlined-font exports — get an OCR text layer and go through the same engine. Rows read from scans carry an OCR tag with the page's recognition confidence.
An ESEF inline-XBRL report or a Companies House filing can be imported instead of a PDF. The filing's tagged facts are summed along its own calculation network; tagged totals validate and are never copied.
A standardized bookkeeping export can be mapped deterministically line by line — no page numbers, no layout reading — with a reconciliation screen for every year in the file.
A value edited by hand carries a permanent mark with who changed it and what the engine had read; an added line is marked as added. The engine's value is kept and restorable with one click.
The approver must be a different person from the submitter. Approval stores a permanent snapshot of the figures as approved — reopening later never rewrites what was signed off.
Every mapping change, correction, revert, submission and decision is logged with who, when, what and what it replaced. Entries are never edited or deleted.
Every capability — running an extraction, proposing pages, reading the standardized view, the multi-year issuer series, approvals, the credit memo — is available through a documented HTTP API with an OpenAPI contract and API-key authentication for machine callers. The institution's own workflow engine can drive PDPilot end to end, so the standard case runs straight through and analyst attention goes to the exceptions.
An integration kit for Salesforce-based lending platforms such as nCino is available. PDPilot itself runs as a dedicated, single-tenant instance per institution, in a private environment or on-premises; client data never leaves that instance.
Yes — by design. The analyst confirms the statement pages, reads the quality signals and approves under dual control. What disappears is the transcription: keying figures, re-adding totals and pasting into a template.
European GAAP and IFRS statements in English, German, Dutch, French, Italian, Spanish, Portuguese, Danish, Norwegian, Swedish and Finnish, plus UK GAAP accounts filed as scans. Statements are processed in their original language.
From the standardized spread on screen, and the cash-flow page you supplied for FFO and free operating cash flow. Every ratio input can be expanded to its line items and each line to the source page.
No. It is an indicative, statements-derived signal on the AAA…CCC ladder, blended from four ratios — Debt/EBITDA, FFO/Debt, EBITDA/Interest and FOCF/Debt — for consistent screening. It is not a substitute for a full credit assessment.
A live demonstration environment is available on request — bring the PDFs your analysts spread today.