Sydney Tuesday 23 August 2022, Australia - Singapore-based Fintech bluesheets has leveraged recent advancements in Natural Language Processing (NLP) and Artificial Intelligence to surpass the ability of traditional Optical Character Recognition (OCR) that to date has dominated the financial digitisation space.
Bluesheets' purpose is to enhance the client experience by providing data processing and workflow automation for companies around the world. Applying Intelligent Automation across a business's back office online and offline systems gives the user back 90 per cent of the time it takes to complete these tasks. In addition, it improves customer NPS, ENPS and optimises employee and client outcomes; ultimately allowing a business to focus on what it excels at.
This superior technology, stacked with powerful proprietary algorithms, enables the financial data platform to provide time and cost savings to businesses at any stage of their digital transformation journey, with more data able to be digitised and more processes automated than financial departments able to achieve to date.
The data processing platform allows finance teams to connect multiple online and offline data sources with popular accounting and ERP systems, providing end-to-end automation that saves time and costs.
When identifying the market need from her own experience, bluesheets COO, Clare Leighton, said "We understood the problem within the finances of a back office and it's those financial workflows that form our primary use case. The market opportunity was there and advances in natural language processing provided an opportunity to address the unmet needs for digital transformation where OCR as a standalone solution was lagging."
Charles Chen, Managing Partner CAP Advisory, said "Without bluesheets, we would be very hesitant to approach the industries we are doing now because there would be too much to process.
"We realised there were quite a few limitations to everyday OCR software, which is, they only let you do one thing - read your data. Given the type of clients we work with and the sheer quantity of data we face daily, reading data alone is insufficient. We needed something more.
"Overall, in terms of our engagement, it saved us about 90 per cent of the time than without bluesheets. In most instances, once we've done the client set-up, the longer a client stays with us, the more we save since we don't have to do much after that.
"When we talk about automating financial workflows, at the core of it, we're replacing busywork with technology. So we're opening up capacity to focus on high-value tasks and putting value back into the business; it's time-saving, it's cost-saving, it's increased capacity and earning potential thanks to efficiency gains and it touches everyone from those who first handle the data, to the most senior decision maker who relies on timely and accurate data. That really makes a difference."
Michael Bromley, CEO of the Stone & Chalk Group, said "Our Sydney resident bluesheets, is using cutting edge AI technologies through the application of Intelligent Automation. This technology is making their client's businesses more efficient and agile and it is a great real world application of emerging technology.
"Bluesheets is quickly becoming the leading solution for Intelligent Automation in finance, and it was fantastic to see bluesheets COO, Clare Leighton, recognised at the Chartered Accountants ANZ 2022 Accounting Tech Pitch Night in July, taking out the audience award."
Tom Finnigan, PR and Production Manager, Stone & Chalk Group M: 0408 867 367, E: email@example.com
Bluesheets works behind the scenes for over 10,000 companies worldwide, supporting businesses of every size and industry. Our systems use AES-256 GCM encryption and multiple layers of security so you can confidently set up, sit back and leave the tedious work to us. To learn more about the difference Intelligent Automation can make to your business, you can connect to a member of bluesheets Australian Accounting team here.
About Stone & Chalk Group
Stone & Chalk Group is Australia’s home for emerging technology innovation. Our world-class expertise and networks, provide unrivalled knowledge, access to capital, infrastructure and guidance that's driving emerging tech innovation for positive impact.
For more information, visit: www.stoneandchalk.com.au