Excel AI for Investment Banks

Build valuation models, create deal analysis

and watch the AI get better with every engagement.

Build valuation models, create deal analysis

and watch the AI get better with every engagement.

Process trial balances, build QoE schedules,

analyze working capital, and more

Build valuation models, create deal analysis

and watch the AI get better with every engagement.

Request Demo

See Examples

Trusted by users at leading financial institutions globally

The Problem

Why Generic AI Doesn't Work for Finance

Most AI tools follow the same playbook:

1. download the plugin 2. watch a demo 3. good luck.

That works for writing emails. It doesn't work for financial modeling. Every firm does the work differently. Your templates, your EBITDA methodology, what your MD looks for, how your VP reviews models. None of that is standard.

Generic AI doesn't know any of this. It's like hiring a Harvard valedictorian and expecting them to nail your LBO model on day one with zero context on how your team actually works.

They're smart enough. They just don't know YOUR process yet.

Our Solution

X21 is Smart Enough to Do the Work, and is Built to Learn Yours.

X21 handles the mechanical Excel work. Data extraction, account classification, schedule population. So your team can focus on the analysis that clients pay for.

These capabilities work from Day 1. Over the first few weeks, the AI learns YOUR templates, YOUR classification logic, YOUR formatting. So it works exactly how your practice works.

X21 handles the mechanical Excel work. Data extraction, account classification, schedule population. So your team can focus on the analysis that clients pay for.

These capabilities work from Day 1. Over the first few weeks, the AI learns YOUR templates, YOUR classification logic, YOUR formatting. So it works exactly how your practice works.

Investment Banking Use Cases

Trial Balance Extraction

Problem: Client sends a trial balance as a PDF or messy Excel file. You need to get it into a clean, workable format before you can do anything else. Formatting cleanup alone takes an hour.

With X21:

"Extract the trial balance from this PDF. Create a clean tab with account codes, descriptions, and balances."

Account Mapping & Classification

Problem: 150 accounts need to be mapped into standard FDD categories. Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.

With X21:

Problem: 150 accounts need to be mapped into standard FDD categories—Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.

With X21:

"Map these trial balance accounts into standard QoE categories. Flag any accounts that need manual review."

Net Working Capital Build

Problem: The NWC schedule is a core deliverable. Components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.

With X21:

Problem: The NWC schedule is a core deliverable—components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.

With X21:

"Build a working capital schedule from the balance sheet. Calculate DSO, DPO, DIO and flag unusual balances."

Quality of Earnings Template Population

Problem: Once data is classified, you need to populate your QoE workpapers. Historicals mapped to your standard structure. This is where your templates meet their specific data.

With X21:

Problem: Once data is classified, you need to populate your QoE workpapers—historicals mapped to your standard structure. This is where your templates meet their specific data.

With X21:

"Populate my QoE template using the classified trial balance.

Map to my existing schedule structure."

"Populate my QoE template using the classified trial balance. Map to my existing schedule structure."

"Populate my QoE template using the classified trial balance.

Map to my existing schedule structure."

Version Change Summary

Problem: New data drops mid-engagement. What changed from the prior version? Comparing workpapers manually takes forever and you might miss something important.

With X21:

"Jacob updated Q3 revenue with final actuals"
"Dennis added 3 new adjustment items provided by management"
"Thomas revised the AR balance per the updated aging schedule"

Customer Concentration Analysis

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis. It's standard scope that requires building from raw data every time.

With X21:

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis—it's standard scope that requires building from raw data every time.

With X21:

"Calculate top 10 customer concentration by revenue for 2025.

Show percentage of total and cumulative concentration."

"Calculate top 10 customer concentration by revenue for 2025. Show percentage of total and cumulative concentration."

"Calculate top 10 customer concentration by revenue for 2025.

Show percentage of total and cumulative concentration."

Revenue Quality Analysis

Problem: Breaking down recurring vs. one-time revenue is essential for adjusted EBITDA and helps buyers understand earnings quality. This analysis starts from raw data every engagement.

With X21:

"Break down revenue by contract type—recurring vs. one-time.

Show the 3-year trend and percentage of total."

"Break down revenue by contract type—recurring vs. one-time. Show the 3-year trend and percentage of total."

"Break down revenue by contract type—recurring vs. one-time.

Show the 3-year trend and percentage of total."

Cohort & Retention Analysis

Problem: Retention metrics tell the story of whether the business is growing sustainably. Cohort analysis is increasingly requested by buyers but takes significant time to build.

With X21:

"Create a cohort analysis by customer acquisition year.

Show retention rate and average revenue per customer by cohort."

"Create a cohort analysis by customer acquisition year.

Show retention rate and average revenue per customer by cohort."

Revenue Trending & Seasonality

Problem: Monthly trends identify seasonality, anomalies, and normalization opportunities. Year-over-year same-month analysis removes seasonality to show true growth.

With X21:

"Show monthly revenue trend over 3 years. Calculate year-over-year same-month growth to identify seasonality."

Customer Segment Analysis

Problem: Segment analysis (Enterprise, Mid-Market, SMB) shows where revenue comes from and where risk concentrates. Another analysis that starts from scratch each engagement.

With X21:

"Show revenue by customer segment—Enterprise, Mid-Market, SMB.

Calculate average deal size and retention rate by segment."

"Show revenue by customer segment—Enterprise, Mid-Market, SMB. Calculate average deal size and retention rate by segment."

"Show revenue by customer segment—Enterprise, Mid-Market, SMB.

Calculate average deal size and retention rate by segment."

Excel AI for Investment Banks

Excel AI for Investment Banks

Excel AI for Transaction Advisory Services

Excel AI for Investment Banks

Excel AI for Investment Banks

The Problem

Our Solution

Investment Banking Use Cases

Investment Banking Use Cases

Investment Banking Use Cases

Investment Banking Use Cases

Problem: Client sends a trial balance as a PDF or messy Excel file. You need to get it into a clean, workable format before you can do anything else. Formatting cleanup alone takes an hour.With X21:

Problem: Client sends a trial balance as a PDF or messy Excel file. You need to get it into a clean, workable format before you can do anything else. Formatting cleanup alone takes an hour.With X21:

Problem: 150 accounts need to be mapped into standard FDD categories. Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.With X21:

Problem: 150 accounts need to be mapped into standard FDD categories—Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.With X21:

Problem: The NWC schedule is a core deliverable. Components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.With X21:

Problem: The NWC schedule is a core deliverable—components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.With X21:

Problem: Once data is classified, you need to populate your QoE workpapers. Historicals mapped to your standard structure. This is where your templates meet their specific data.With X21:

Problem: Once data is classified, you need to populate your QoE workpapers—historicals mapped to your standard structure. This is where your templates meet their specific data.With X21:

Problem: New data drops mid-engagement. What changed from the prior version? Comparing workpapers manually takes forever and you might miss something important.With X21:

Problem: New data drops mid-engagement. What changed from the prior version? Comparing workpapers manually takes forever and you might miss something important.With X21:

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis. It's standard scope that requires building from raw data every time.With X21:

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis—it's standard scope that requires building from raw data every time.With X21:

Problem: Breaking down recurring vs. one-time revenue is essential for adjusted EBITDA and helps buyers understand earnings quality. This analysis starts from raw data every engagement.With X21:

Problem: Breaking down recurring vs. one-time revenue is essential for adjusted EBITDA and helps buyers understand earnings quality. This analysis starts from raw data every engagement.With X21:

Problem: Retention metrics tell the story of whether the business is growing sustainably. Cohort analysis is increasingly requested by buyers but takes significant time to build.With X21:

Problem: Retention metrics tell the story of whether the business is growing sustainably. Cohort analysis is increasingly requested by buyers but takes significant time to build.With X21:

Problem: Monthly trends identify seasonality, anomalies, and normalization opportunities. Year-over-year same-month analysis removes seasonality to show true growth.With X21:

Problem: Monthly trends identify seasonality, anomalies, and normalization opportunities. Year-over-year same-month analysis removes seasonality to show true growth.With X21:

Problem: Segment analysis (Enterprise, Mid-Market, SMB) shows where revenue comes from and where risk concentrates. Another analysis that starts from scratch each engagement.With X21:

Problem: Segment analysis (Enterprise, Mid-Market, SMB) shows where revenue comes from and where risk concentrates. Another analysis that starts from scratch each engagement.With X21:

...and hundreds more

…and hundreds more

Title

…and hundreds more

…and hundreds more

See How Your Team Can Use X21 Today

See How Your Team Can Use X21 Today

Title

See How Your Team can Use X21 Today

See How Your Team Can Use X21 Today

Excel AI for Transaction
Advisory Services

Problem: Client sends a trial balance as a PDF or messy Excel file. You need to get it into a clean, workable format before you can do anything else. Formatting cleanup alone takes an hour.

With X21:

Problem: Client sends a trial balance as a PDF or messy Excel file. You need to get it into a clean, workable format before you can do anything else. Formatting cleanup alone takes an hour.

With X21:

Problem: 150 accounts need to be mapped into standard FDD categories. Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.

With X21:

Problem: 150 accounts need to be mapped into standard FDD categories—Revenue, COGS, OpEx, D&A, Other. Doing this manually is tedious, and consistency matters for the final schedules.

With X21:

Problem: The NWC schedule is a core deliverable. Components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.

With X21:

Problem: The NWC schedule is a core deliverable—components, days metrics, trend analysis, normalization flags. Building it right takes time, and it needs to hold up to buyer scrutiny.

With X21:

Problem: Once data is classified, you need to populate your QoE workpapers. Historicals mapped to your standard structure. This is where your templates meet their specific data.

With X21:

Problem: Once data is classified, you need to populate your QoE workpapers—historicals mapped to your standard structure. This is where your templates meet their specific data.

With X21:

Problem: New data drops mid-engagement. What changed from the prior version? Comparing workpapers manually takes forever and you might miss something important.

With X21:

Problem: New data drops mid-engagement. What changed from the prior version? Comparing workpapers manually takes forever and you might miss something important.

With X21:

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis. It's standard scope that requires building from raw data every time.

With X21:

Problem: Customer concentration is a core QoE schedule. Top customers, percentage of revenue, trend analysis—it's standard scope that requires building from raw data every time.

With X21:

Problem: Breaking down recurring vs. one-time revenue is essential for adjusted EBITDA and helps buyers understand earnings quality. This analysis starts from raw data every engagement.

With X21:

Problem: Breaking down recurring vs. one-time revenue is essential for adjusted EBITDA and helps buyers understand earnings quality. This analysis starts from raw data every engagement.

With X21:

Problem: Retention metrics tell the story of whether the business is growing sustainably. Cohort analysis is increasingly requested by buyers but takes significant time to build.

With X21:

Problem: Retention metrics tell the story of whether the business is growing sustainably. Cohort analysis is increasingly requested by buyers but takes significant time to build.

With X21:

Problem: Monthly trends identify seasonality, anomalies, and normalization opportunities. Year-over-year same-month analysis removes seasonality to show true growth.

With X21:

Problem: Monthly trends identify seasonality, anomalies, and normalization opportunities. Year-over-year same-month analysis removes seasonality to show true growth.

With X21:

Problem: Segment analysis (Enterprise, Mid-Market, SMB) shows where revenue comes from and where risk concentrates. Another analysis that starts from scratch each engagement.

With X21:

Problem: Segment analysis (Enterprise, Mid-Market, SMB) shows where revenue comes from and where risk concentrates. Another analysis that starts from scratch each engagement.

With X21: