The Problem
Inspira Financial's accounting team manages a uniquely complex reporting environment: separate sets of audited financial statements across related entities, each with its own workbooks, mappings, and audit requirements prepared by a small team under a tight year-end deadline.
Like most financial reporting teams, Inspira had lived through the limitations of traditional financial statement preparation. In practice, that friction showed up across four key areas:
- Manual Excel-to-document handoffs: Number changes required manual updates across every Word document. A time-consuming process across separate filings.
- Formatting over analysis: Hours spent fighting tables and footnotes in Word meant less time for the review and judgment work that actually matters.
- Multi-entity complexity: Managing distinct financial statement packages with shared language and linked data created coordination challenges.
- Review and accuracy checks: Manually footing, cross-footing, and checking internal consistency across multiple documents required significant time and attention at the most critical point in the close cycle.
The solution
Inspira Financial adopted Inscope ahead of their year-end close, replacing the manual Excel-to-Word process with a live, AI-native workflow built around their existing workbook structure.
- Automated rollforward: Inscope ingested Inspira's prior year PDFs and rolled forward all documents automatically updating dates, comparative amounts, and structure so the team could skip the most time-intensive part of annual setup entirely.
- Live sync: Each of the four financial statement packages had its own workbooks and process. Inscope's live sync worked seamlessly across each of the four — when late-cycle entries came through, updates pushed instantly from Excel into each set of financials and footnotes, with no manual Word updates.
- AI-powered review: Penny, Inscope's AI assistant, ran footing, cross-footing, and inconsistency checks across all documents in real time. But the team's biggest impact came from disclosure wording — Penny ran comp checks, pulled in accounting guidance, and surfaced relevant ASC standards on demand.
Outcome
Inspira Financial's reporting team delivered audited financial statements five days early without adding headcount and without adding hours.
- Speed of implementation: From contract to filed financials in eight weeks, with no training ramp and no disruption to the team's existing workflows or workbook structure.
- Improved efficiency: Inscope absorbed the manual overhead of rollforward, formatting, and accuracy checks, freeing the team to focus on review and analysis.
- Increased capacity: Penny helped with footing checks, disclosure research, and ASC guidance, giving the team extra support during the most demanding weeks of close.
- Research time reclaimed: Instead of manually combing through comp filings and accounting guidance, the team got real-time answers from Penny — freeing hours during the most demanding weeks of the close cycle.
“Penny changed how we work during review. Instead of manually chasing down every inconsistency, we had a second set of eyes running across the document in real time and we found ourselves referring to her like she was part of the team."
- Jesse McKernan, Senior Accounting Manager, Inspira Financial