The Melbourne-based financial accounting firm — Krigsman Partners has uncovered the possibilities of document comparison technology in the ABBYY FineReader® 14. Although this feature is only one of a whole suite of time saving tools found in the software, it has revolutionised the way Krigsman Partners process many of their documents.
worth of wages saved with each document revision
long Trust Deeds reviewed in seconds
documents turned into editable/searchable formats
As a firm providing a broad range of accounting, legal and advisory consulting services, Krigsman Partners works with a wide variety of documents includingtrust deeds, contracts and other legal documentation.
The first challenge for the firm was to find a comprehensive tool to accurately convert PDFs and other scanned images into editable and searchable formats for editing and storing.
After trying several products, they found all of them slow at processing large complex documents while some are difficult to use because of their unintuitive interfaces and cumbersome features.
Shortly after trialing ABBYY FineReader 14 Corporate, Krigsman Partners acquired a volume license for each of its members, setting up FineReader as the default PDF tool within the organization.
The crowning feature of the newly acquired software became ABBYY FineReader’s unique Document Comparison tool. It gives the ability to compare documents in various formats such as an image only PDF against a Microsoft Word document in the same window thus performing in seconds a review processes that would have taken hours.
By implementing ABBYY FineReader, Krigsman Partners acquired not only a comprehensive PDF tool able to merge, edit and convert PDF documents, but also a powerful OCR product that can pre-process scanned images as well as photos of documents taken with a mobile phone. The dedicated OCR interface ensures that document format conversion is performed as smoothly as possible. Importantly, this process could be automated with the ‘Hot Folder’ feature that can automatically process required documents within an assigned location.
With FineReader, Krigsman Partners was able to achieve a signiﬁcant reduction in task completion times during document conversion and comparison. Tasks that used to take an employee a full day can now be accomplished in seconds. A good example is a recent task to compare two versions of a trust deed - one from the 80s and one from 2000. Both documents are over 40 pages in length. Before the ﬁrm deployed FineReader 14, someone would have to compare the documents side by side and ﬁnd all the differences and changes made to either document, a process that could take a full day. With ABBYY FineReader, the ﬁrm was able to complete the task in seconds. Krigsman Partners currently saves up to $1000 in wages each time it uses the solution for similar tasks.
For Krigsman Partners, ABBYY FineReader 14 is an easy-to-use and intuitive solution that helped put all their document processing troubles behind them. ABBYY FineReader makes PDFs and other image based documents searchable and editable while saving man-hours by automatically identifying changes and revisions in various legal documents. The built-in document compare tool sifts through changes in legal notices, balance sheets and ﬁnancial reports, greatly enhancing the coherence of the ﬁrm’s legal and ﬁnancial services.
Krigsman Partners is a boutique taxation and accounting firm based in the heart of the Melbourne CBD. Krigsman Partners works with national, international, established and start-up technology, media, professional and innovative businesses. The firm also assists foreign entities to setup business ventures in Australia by advising on structuring, tax, accounting and business operations. Krigsman Partners includes a strong team of tax professionals.