Service Area: Technology
Client Type: Private Equity Firm
Service Provider Type: AI/ML Advisory Firm
Industry: Private Equity
The client, a private equity firm, sought to automate the extraction of information from numerous payroll documents. Their portfolio company was manually processing more than 1,000 different forms related to employee pay and withholdings, leading to inefficiencies and high operational costs.
The portfolio company operated on Microsoft Dynamics and required an AI/ML solution that could accurately extract and input payroll data from diverse document formats. Ensuring data accuracy, seamless integration with existing systems and scalability of the solution were critical challenges to address.
BluWave connected the client with experienced AI/ML advisory firms capable of developing a tailored solution. The experts conducted a proof of concept using a sample data set, demonstrating the ability to automate data extraction and integrate with the portfolio company’s payroll system. BluWave facilitated ongoing collaboration to refine the solution and prepare for full-scale implementation.
The implementation of the AI/ML solution enabled the portfolio company to automate the extraction of payroll information, eliminating the need for manual processing. This automation is projected to save over $50,000 annually, significantly reducing operational costs and increasing processing efficiency.
