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Success Story

Enabling Complete Asset Management Insights for a Major Financial Services Provider

 
INNOVATION BY COMBINING THE EXISTING – A 360 DEGREE VIEW
Success Story

Asset View

Success Story

Invoiced documents

Success Story

Week POC delivered

 

BUSINESS INSIGHTS

A major financial services provider needed a complete overview of their assets. In order to achieve this goal, our client required the support of an experienced technology partner who could support them in transitioning their assets, documented exclusively on paper, into the digital environment, breaking through data silos, with minimal disruption to the business.
 

THE ENDAVA APPROACH

A team of Endava engineers developed an application to digitise the paper invoices and add structure to the information. Once scanned, the text is extracted from the documents, through OCR techniques, and then fed through machine learning algorithm, quickly and effectively transferring hand-written notes and contract numbers into a NoSQL database. The application links the information from the invoices to the company’s Contract Management, CRM and Asset Portfolio systems, enabling a 360 degree view of all their assets. For this project, the team worked across 5 different locations in the Netherlands, Romania and U.S. where together with the client, they were able to deliver a POC of 200 hours in 3 weeks time.
 

BENEFITS DELIVERED

The solution created gives our client complete asset management insights through previously unavailable information, including data searchability and business intelligence. Through this overview, we enabled new commercial and maintenance level information, as well as provided our client with asset lifecycle, risk and finance actionable insights. This created new business opportunities in asset refurbishing, asset services, releasing, consulting services, fleet management, asset sharing, and cross selling.
 

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