Meet Our Client

Our client is a global accounting services consultancy specializing in delivering tailored solutions in finance, risk management, and operational improvements for businesses of all sizes. The firm helps clients navigate complex business challenges with customized strategies

Headquartered in London.

Founded in 1931.

38,000 professionals.

With a presence in 145 territories.

Generates +$4 billion in revenue annually.

Understanding Challenges

Our client was facing significant challenges in manually extracting transaction data from various financial institutions’ PDFs. This task was not only time-consuming but also prone to errors, consuming precious resources and potentially leading to inaccuracies in financial reporting.

The extraction of daily transaction data from bank statements or investment reports in PDF format is extremely labor-intensive. It can take anywhere from a few minutes to 10 hours, depending on the number of transactions. At this point, it is important to highlight that annual reports from one financial institution can contain over 1,000 transactions.

Solutions and Activities

We created a solution that automates the processing of bank transactions.

  • Ease of Use: We designed an intuitive portal where users can log in effortlessly.
  • Document Upload: Users can now upload bank statements or financial institution reports from which they want to extract transactions. Currently, supported institutions include Bank of America, Safra National Bank, Itaú, Pershing, and UBS Financial Services.
  • Automated Extraction: Leveraging GenAI, our solution accurately extracts daily transaction information and allows users to download the results into accounting software like Xero.
  • Technology and Security: Our solution utilizes AI to process data intelligently and efficiently, enabling privacy and security with a private and secure connection to Microsoft Azure. It never uses data for training, sharing with external entities, or storing, thereby ensuring compliance with privacy regulations.

Results and Achievements

Our collaboration with the global accounting firm led to impactful improvements in their data extraction processes:

  • done

    Increased Efficiency: Reduced the time needed for data extraction, enabling the accounting team to focus on higher-value tasks.

  • done

    Enhanced Accuracy: Minimized errors in data extraction, improving the reliability of financial reports and reducing the risk of discrepancies.

  • done

    Resource Optimization: Freed up valuable time, allowing the accounting team to handle more complex tasks and improve overall productivity.

Our solution has empowered the accounting team to achieve greater accuracy and efficiency, transforming their data extraction process.

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