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Streamlining Financial Processes for Enhanced Accuracy and Efficiency
A property management company managing multiple strip malls and investment properties was burdened with a slow, manual financial reporting process. The company needed a solution to streamline their handling of hundreds of tenant payments, vendor expenses, and financial documents, which resulted in delayed financial decision-making and increased operational costs. Applied AI Consulting was engaged to automate the extraction, categorization, and reconciliation of data from a variety of documents, drastically reducing manual effort and increasing reporting accuracy.
Diverse Document Formats
The client managed multiple financial documents like PDFs, check registers, and tenant reports, all with varying formats, making consistent data extraction a challenge.
Time-Consuming Manual Process
Manually processing hundreds of documents for report generation took weeks, delaying financial decision-making and slowing down operations.
High Risk of Human Error
The manual effort involved in reconciling data across numerous documents led to frequent human errors, compromising the accuracy of financial reports.
Lack of Real-Time Reporting
Due to the slow, manual process, the client was unable to generate timely financial reports, impacting their ability to make swift, data-driven business decisions
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Used AWS Textract and custom regex to extract financial data from various documents efficiently.
Integrated DynamoDB for report tracking and S3 for secure document storage, ensuring data integrity.
Deployed ECS containers to enhance the speed and efficiency of financial report generation.
Applied AI Consulting implemented AWS Textract for extracting data from financial documents, using custom regex for identifying key details.
The system utilized DynamoDB to track report statuses, ensuring complete data traceability throughout the process.
Input documents and final reports were securely stored in S3, while ECS containers managed the processing pipeline for seamless automation.
Cut financial report generation time by 95%, allowing property managers to make quicker, data-driven decisions.
Reduced manual errors by over 90%, ensuring more accurate financial reports and reconciliation.
Freed up 50% of the team’s time, enabling employees to focus on strategic tasks rather than repetitive document processing.
— Principal Executive, Property Management Client
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