Large Financial Organization
Our client asked for help with automation of financial reports processing. The credit department of an international bank performs risk re-evaluation/assessment based on financial reports. Changes in geographic business diversification were used as input for the scoring system. Manual report analysis was a laborious process that caused delays in information extraction and extra management costs.
A custom software solution was developed to address this challenge. The system uses the power of open source components and allows an analyst to easily identify whether a company in due diligence has any business in a region. UX design enables an analyst to focus on important information, skipping irrelevant and advertisement pages in reports.
- Processing speed was boosted from 1-3 days per report to <3 minutes per report, which equals ~180 times improvement
- Team size was reduced: now 1 person handles duties of 9 people
- Accuracy does not decrease with time: a computer does not make mistakes because of being ‘tired’
- Reports from previous years can be compared with current versions and changes can be tracked