This is the full sequence, from configuring the fund once to preserving the record after close. Steps 1 to 6 happen once per model version. Steps 7 to 12 are where the deal actually runs.
Excel remains the calculation layer at every step. AION reads, checks, proposes and records — it does not calculate financial outputs and it does not decide anything.
The examples below are drawn from a worked demonstration transaction. They are illustrative of the output, not a client deal.
The fund's control profiles are configured by deal type, along with its model families, model variations and deal-email sources. Each reference template is profiled: which cells are inputs, how the model is solved, and what its formula structure looks like. Done once per structure and reused after that.
DSCR floor 1.30x · IC range 11–13% · CAPEX tolerance €820M
Set by the team. AION applies these rules; it does not set them.
A person creates the deal and uploads the sponsor materials.
5 documents · 400+ pages.
AION extracts every relevant value with the document and page it came from, and marks it as sponsor-claimed. AION proposes assumptions. It never confirms them.
Sponsor_Financial_Pkg p.31 · sponsor-claimed
Term_Sheet_v4.pdf p.8 · sponsor-claimed
Concession_Agreement §5.2 · sponsor-claimed
11 assumptions extracted · 2 asserted without basis · 4 gaps identified. Every ID is permanent.
AION writes the stated figures it can into a quarantined copy of the fund's own model template. Ranges are left unresolved. Gaps are left empty and flagged. Coverage is measured against the template's input inventory — for example, 14 of 17 inputs populated — against a target the fund agrees.
Gaps are left empty and named. Nothing is guessed.
The analyst downloads the draft, reviews and develops it in Excel, and uploads the authoritative workbook back. This round trip happens once per model version. After it, changes to mapped inputs can stay inside AION; structural model work goes back to the analyst.
One round trip per model version. The analyst works in Excel throughout.
AION profiles the returned workbook and compares it against the reference template or the previously admitted version. It confirms what it can trace, write, calculate and refuse, and surfaces anything broken at cell level. Every structurally new version passes this gate before anything downstream uses it.
3 BROKEN INVARIANTS 7 EXTENSIONS 14 of 17 INPUTS · 82%
Debt!F25 template =E25*(1-$C$4) now =E25*(1-$C$3)
11 of 12 sculpting-row cells still hold =E*(1-$C$4)
Assumptions!D30 template =D29+1 now 25
24 of 25 period cells still hold =prev+1Structure is compared, not values. Every finding names a cell and can be checked by opening the file.
Once the workbook is admitted and the working case accepted, the transaction cockpit goes live: the current case, the outstanding questions, the controls and the available scenarios.
Min DSCR 1.35x · Equity IRR 12.4% · CAPEX €780M
What is exposed depends on the workbook. AION exposes only what it can trace safely.
AION reads documents, emails, meeting notes and external references for relevant signals, pins each observation to the source it came from, and puts proposed register changes in front of the deal lead with their provenance.
6 artifacts in · 4 filed without interrupting anyone · 1 parked · 1 raised.
The deal lead marks each proposal Confirmed, Revised, Rejected or Retired. Every resolution creates one structured entry in the decision record.
12 Jun 14:50 · Deal Lead
Four outcomes. Each one becomes a single entry in the record.
The current case can be queried at any time: values, thresholds, open items, proposals, provenance and visualisations against the control profile. Changes to mapped inputs can be run inside AION. Structural changes are refused with a cell-level explanation, routed out as a model request, and returned through the admission gate.
EPC contingency 7% → 11%
ORN·C-01 · Assumptions!F42 → L42
the accepted workbook can calculate this
Operating period 25 → 30 yrs
Assumptions!F22 · structural
changes the model's logic, not an assumption within it
routed out as a model request
One session, one boundary. AION finishes what the workbook can answer and refuses what it cannot.
AION generates or maintains the IC memo and presentation from the record, while still supporting drafts the fund owns. Every cited value traces back to the record, stale content is surfaced, and alignment checks run before IC.
23 references checked 19 MATCH 4 STALE IC memo · 12 May cites 7% · 12.4% · €780M Accepted case now 11% · 11.6% · €811M
Counts, not a score. Stale means the memo no longer matches what the team accepted.
The full audit trail and provenance is preserved for every assumption, workbook version, proposal and decision. Over time this structured decision data becomes the basis for pattern detection across deals.
S-01 → SC-01 → SR-01 → DL-001 → DL-002 → DL-003 → DL-004 → DL-005 → A-01 → A-02
4
artifacts in
6
one-click confirmations
1
sentence typed
2
checks run
The artifacts maintain the record. People only confirm decisions.
Ordinary value changes stay inside AION.
Only structural changes to the model go back through the analyst and the admission gate.