You’re not alone – even the most efficient companies spend an average of 72 days on monthly and yearly reporting alone. These companies often cite a heavy reliance on IT for modifying reports, poor data quality, and fragmented systems requiring tedious manual processes as the biggest unnecessary time losses.
With these challenges in mind, we applied Natural Language Processing, Artificial Intelligence, and Machine Learning technologies to create CognitiveOps Finance—an intuitive, end-to-end, self-service reporting system with automated data validation.
In one case study, we found that CognitiveOps Finance could cut a 7-person, 140-hour reporting process at a large organization down to just one hour.
How it works
CognitiveOps Finance processes uploaded documents and simultaneously identifies financial terms, organizational entities, and their corresponding financial data. These data points are then automatically cross-checked for accuracy against your systems of record.
Automating this validation process eliminates the need for built-in redundancies meant to account for manual errors, saving you time and money. The system will identify which data source is used to either confirm or question each data point, so even when manual intervention is required, it will link directly to the source of the conflict allowing you to resolve the issue quickly.
Additionally, as the information in each document is auto-indexed as soon as it enters the system, you can simply search for new information using our built-in conversational agent, making your organization’s knowledge accessible without IT development.
Our application can also generate these reports directly from the systems of record by harnessing natural language generation, saving you even more valuable time. The system is already trained in Natural Entity Recognition and data validation, so you can just flip the switch to reverse the process and generate a complete and validated report directly from the source data and in the same format.
[qode_elements_holder number_of_columns=”two_columns” columns_proportion=”75_25″][qode_elements_holder_item vertical_alignment=”middle” advanced_animations=”no” item_padding=”0px 18px 0px 0px”]
Looking to reinvent the way you work?
Schedule a demo today and see how much time you can get back with CognitiveOps Finance.
[/qode_elements_holder_item][qode_elements_holder_item vertical_alignment=”middle” advanced_animations=”no” item_padding=”0px 0px 0px 18px”]Schedule A Demo[/qode_elements_holder_item][/qode_elements_holder]
