Case Study
Balance sheet analysis For a BFSI company, TRUAI automates comparison and analysis of unstructured data.
Read our case study to learn how Innovya used AI, and Analytics to put the automotive retail division of a large conglomerate on the path to success.
Services
Automated comparison of performance metrics and the balance sheet.
Industry
Banking & Financial Services
The Challenge
Lengthy manual operations:
Automate the procedure to shorten the lag in the recurring comparison study of the 20 major accounts’ balance sheet reports.
Variations in formats:
To automatically recognize, compare, and classify important data items and performance indicators in the balance sheets of numerous important accounts regardless of variations in the headers.
Complicated Analyses:
Automate laborious tasks starting with data extraction for ratio calculations and comparative financial analysis.
Data drilling of unstructured text:
In order to speed up the search and analysis of the combined data.
Retrieval of data points:
To automatically link and index the information gathered and relationship analyses in accordance with contextual relations.
Solution
To address the client’s business difficulties, Innovya deployed Business Intelligence and TruAI, a solution driven by artificial intelligence. The answer included the:
Using text analytics for contextual analysis, tax returns can be processed fast using knowledge about Canadian individual and corporate tax returns.
Mechanism for searching and slicing-dicing data: To conduct thorough performance analysis.
Indexing mechanism: To make it simple to save and retrieve condensed data using an indexing tool that is already incorporated into the system.
Conclusion
Decreased the time needed for the Performance Parameter Comparison task from one man month to four days.
Accuracy levels have increased from 75% to 97%.
