Automating Manual Processes Using AI and Bots
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Abstract
BRG leveraged AI to streamline a financial services company’s manual bankruptcy check processing. Their solution used automation to handle 93% of checks received and provide posting instructions for 80% of allocations, enabling a 50% team size reduction.
BRG Impact
A financial services company looked to BRG to reduce costs through increased automation. BRG in consultation with client leadership targeted the company’s manual bankruptcy check posting process, leveraging AI to automate the processing and sorting of scanned checks. By employing machine learning models that were rigorously back-tested against weeks of manually processed data any differences between the AI-powered automation and manual results were examined to further improve the technology.
BRG’s AI solution ultimately automated 93% of check processing and provided posting instructions for 80% of allocations. Additionally, their solution cut the processing team size by 50% while simultaneously improving accuracy. In summary, BRG’s targeted use of AI and thorough testing methods led to major efficiency gains in the company’s bankruptcy check processing, reducing costs through automation and enabling workforce reductions.
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