DataSnipper

DataSnipper is a software development company established in 2017, and headquartered in Amsterdam, North Holland. It specialises in audit transformation and productivity improvement for audit and finance teams through its Intelligent Automation Platform integrated into Microsoft Excel. The platform is designed to extract, cross-reference, and verify data efficiently, addressing repetitive tasks, documentation challenges, and risk management issues.

In early 2024, DataSnipper secured $100 million in Series B funding led by Index Ventures, elevating its valuation to $1 billion and achieving unicorn status.

The company serves a global audience, including 500,000+ users across 125 countries, and has partnerships with all "Big Four" accounting firms: Deloitte, KPMG, PwC, and Ernst & Young. It has received Series B funding of $100 million and operates with a team of 51–200 employees.

DataSnipper's key features include document matching, form extraction, table snipping, and automated analysis, enabling significant time savings, error reduction, and cost efficiencies. The platform eliminates 90% of repetitive tasks and reduces costs by 50%, making it widely adopted for external and internal audits, tax management, financial control, and advisory services.

The software is offered in three tiers: Basic, Professional, and Enterprise, catering to small businesses, medium-sized enterprises, and large organisations, respectively. Additional modules like the Financial Statement Suite and Advanced Extraction Suite provide specialised functionality, such as automated financial statement analysis and enhanced data extraction.

DataSnipper emphasises environmental responsibility through its partnership with 1% for the Planet, donating 1% of its revenue to environmental causes. Its core values promote teamwork, simplicity, and sustainability.

To enhance adoption and efficiency, the company supports its users with professional services, including custom training and template creation. DataSnipper’s customer base includes industries like banking, insurance, and manufacturing, with roles ranging from team contributors to C-level executives.

DataSnipper was established in 2017 in Amsterdam, North Holland, as a response to challenges faced by audit and finance professionals. Its founders recognised the repetitive and time-consuming nature of tasks such as data extraction, verification, and cross-referencing in financial audits. By engaging with auditors and finance teams, they identified the need for a solution that could automate these manual processes while maintaining accuracy and efficiency. This vision led to the development of the Intelligent Automation Platform, which was integrated into Microsoft Excel and became the company's core product.

The company experienced steady growth in its early years by addressing specific needs within the auditing industry. Its platform gained rapid adoption among audit teams for its ability to automate tasks and reduce human error. By 2020, DataSnipper had become a trusted name among major audit firms, including Deloitte, KPMG, PwC, and Ernst & Young. These partnerships significantly boosted its reputation and allowed the company to expand its user base globally.

In 2023, DataSnipper launched additional modules such as the Financial Statement Suite and Advanced Extraction Suite, designed to improve workflows and standardise processes. These innovations enhanced the company’s ability to serve diverse industries, including banking, insurance, and manufacturing. During this period, DataSnipper also opened its first office in the United States to accommodate its growing customer base, particularly in North America, which accounted for 40% of its revenue.

The company's Series B funding round in early 2024 raised $100 million, valuing it at $1 billion and earning it the status of a "unicorn" company. This investment allowed DataSnipper to further refine its platform and introduce new features, such as AI-powered document analysis and real-time collaboration tools. Its commitment to sustainability was demonstrated through its partnership with 1% for the Planet, pledging a portion of its revenue to environmental causes.

Today, DataSnipper serves over 500,000 users in 125 countries, providing solutions that eliminate repetitive tasks, reduce costs, and improve efficiency for audit and finance teams. Its dedication to innovation and customer satisfaction continues to position it as a leader in intelligent automation within the audit and finance sectors.

DataSnipper's mission is to empower audit and finance teams by delivering intelligent automation solutions that simplify data validation, improve efficiency, and reduce errors. The company is committed to providing tools that integrate seamlessly with existing workflows, enabling professionals to focus on high-value tasks rather than repetitive processes. By using advanced technology and promoting innovation, DataSnipper aims to transform the way audits and financial operations are conducted, ensuring accuracy, standardisation, and productivity for its users worldwide. The company also strives to support sustainable practices by pledging a portion of its revenue to environmental initiatives through its 1% for the Planet partnership.

DataSnipper envisions a future where data is seamlessly connected, enabling professionals to unlock their full potential by making informed decisions faster and more accurately. The company aims to be a global leader in intelligent automation, bridging the gap between data sources and their context to create a unified and trusted platform. By prioritising simplicity, efficiency, and sustainability, DataSnipper seeks to revolutionise how audit and finance teams operate, fostering collaboration and innovation. It aspires to empower organisations across industries to embrace technology that enhances productivity, drives resilience, and supports long-term growth.

DataSnipper has been widely recognised for its innovation in transforming audit and finance workflows. It is trusted by all "Big Four" accounting firms – Deloitte, KPMG, PwC, and Ernst & Young – for its ability to streamline tasks with intelligent automation. The platform serves over 500,000 users across 125 countries, showcasing its global impact. DataSnipper has also achieved unicorn status with a valuation of $1 billion following its $100 million Series B funding. Its user-friendly features and focus on sustainability through a partnership with 1% for the Planet highlight its commitment to excellence and social responsibility.

DataSnipper is a specialised software platform designed to improve productivity and accuracy for audit and finance professionals. Integrated directly into Microsoft Excel, it automates manual processes, reduces errors, and streamlines workflows. Here’s a detailed look at the products and services offered by DataSnipper:

Core Platform Features

The DataSnipper platform provides a range of tools that help users perform key audit and finance tasks efficiently:

• Document Matching Automatically matches data in Excel with supporting documents, such as invoices, contracts, or receipts. This feature simplifies cross-referencing and ensures accuracy in reporting.
• Form Extraction Extracts data from structured forms, such as tax documents and financial statements, without manual input. This feature saves time and minimises errors.
• Table Snip Enables the extraction of table data from documents and its organisation in Excel. This is particularly useful for analysing financial reports or audit trails.
• Advanced Reporting Provides detailed analytics and insights, helping users identify discrepancies, trends, or risks.
• Automation Tools Tools like "Find All Sums" automatically identify and summarise numerical data, reducing repetitive tasks and improving accuracy.

Product Tiers

DataSnipper offers three subscription models to cater to various business needs:

• Basic Plan Ideal for small businesses, it includes essential features like platform OCR, document viewer, table snip, and document management.
• Professional Plan Designed for medium-sized businesses, this plan includes everything in the Basic Plan, plus advanced features such as document matching, form extraction, and featured templates.
• Enterprise Plan Suited for large enterprises, this plan adds functionalities like advanced reporting, custom OCR configuration, external guest access, and DataSnipper Excel Online for seamless collaboration across teams.

Add-On Modules

• Financial Statement Suite Automates financial statement analysis, including verifying mathematical accuracy and consistency between years. It allows users to create custom tick marks and switch between financial statement versions effortlessly.
• Advanced Extraction Suite Detects and extracts data fields from invoices, contracts, and receipts, regardless of layout. This eliminates manual data entry, improves accuracy, and saves time.
• UpLink A new module that transforms client document requests into real-time insights using AI-powered tools. It validates documents at scale and integrates them into the DataSnipper platform.
• DocuMine (Coming Soon)Focused on AI-powered document analysis, this module will allow users to quickly extract relevant information from large volumes of data, further reducing manual effort.

Professional Services

To support adoption and enhance user experience, DataSnipper offers professional services:

• Custom Training
  Tailored learning plans and Q&A sessions ensure users understand how to utilise the platform effectively.
• Templating
  Custom templates designed for specific use cases help automate workflows, improve accuracy, and standardise processes across teams.

Environmental Commitment

• As part of its commitment to sustainability, DataSnipper donates 1% of its revenue to environmental causes through its partnership with 1% for the Planet.

Key Industries and Roles

• The platform serves industries like banking, insurance, and manufacturing. It supports roles ranging from individual contributors to managers and C-level executives.