BPM’s Data Analytics Services team successfully implemented an AI-powered automation solution for the process of generating industry reports. Learn how they achieved significant efficiency gains and cost reduction for this critical documentation requirement.
Challenges
The BPM Transfer Pricing team produces between 30 to 40 important client reports annually, each requiring detailed industry analysis sections. These sections traditionally demanded three to six hours of careful review, summarization and finalization per report. The team faced a particular challenge in processing source materials – dense industry PDFs exceeding 100 pages – making the process time-consuming and susceptible to manual errors.
Solutions
To automate this manual review of industry reports, the Data Analytics team implemented an automation process to streamline the extraction and summarization of the report’s information. Using Azure’s GPT functionality and Llama 2, another GPT program, the team created a workflow for enhanced efficiency and accuracy.
The automated process performs the following steps:
- Extracts and partitions PDF text into relevant sections and sub-sections.
- Generates concise content summaries using Azure’s GPT functionality.
- Validates output against BPM standards using Llama 2, which serves as a quality control measure.
- Automatically populates summaries into final report documents through Excel-to-Word integration.
Results
The impact of this automation has been transformative. What once took three to six hours now requires only 20 minutes of background processing, allowing the Transfer Pricing team to focus on other critical tasks while the program runs. This dramatic improvement translates to significant measurable benefits.
The automation generates total annual savings of $47,250, based on processing an average of 35 reports per year at a blended rate of $300 per hour. More importantly, it frees up 157.50 hours of valuable staff time annually that they can now dedicate to higher-value analysis work.
Ongoing innovation
Building on this success, the team continues to expand automation capabilities. One current initiative includes developing web scraping techniques to extract information from a company’s website about their products and services and use Llama 2 to write a few paragraphs outlining them. Another initiative is implementing VBA scripts to streamline metric calculations in report tables. These ongoing improvements further reduce training requirements and minimize the risk of human error.
The team is also exploring opportunities to automate additional sections of the report, demonstrating BPM’s dedication to continuous innovation and process improvement.
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