ABBYY Process Intelligence: How a Financial Services Company Uncovered $6 Million in Hidden Savings

CASE STUDY | FINANCIAL SERVICES

Financial Services Firm Mines $6M in Savings Using ABBYY Process Intelligence

Executives in a Fortune 100 financial services firm had questions about the cost-efficiency of processes involved in managing a high volume of transactions across hundreds of internal systems. ABBYY Process Intelligence enabled their analysts to turn around data-driven answers rapidly—and find where process improvements would yield significant ROI.

“What I love about ABBYY process mining is how quickly you can pivot and get to quantitative results that help you get the best business cases funded.”

Director of Business Planning

Challenge

Research analysts at a leading financial institution needed to provide data about the cost-efficiency of their high-volume transaction processes. To examine the processes completely, the analysts needed to access data from 40 different systems, ranging from customer interactions to back-office workflows.

The analysts wanted a process mining solution that would easily visualize all of this process data end to end, without requiring coding, so they could:

Gain a truly end-to-end perspective of transaction processing, from customer request to fulfillment
Determine how many transactions are processed straight through
Identify processes where redesign and automation offer the best ROI

Solution

ABBYY Process Intelligence aggregated event data from two million transactions daily across enterprise-wide systems into a live data stream. Analysts could finally follow a transaction’s execution progress from beginning to end, along a timeline.

ABBYY process mining revealed transaction paths where distributions were significantly delayed by manual handling, providing an opportunity for $3.6M in savings through automation.

ABBYY also helped analysts find a specific type of transaction with higher delay and market exposure, resulting in $2.4 million in expenses that could be avoided.

Customer service analysts used ABBYY to find key points of high friction in customer processes.

Value

A live, end-to-end view of transactions from 2M daily events and 40 different systems on a timeline—without coding
$6M in potential savings identified through process improvement and automation
Sources of high friction early in customer service processes identified and alleviated

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ABBYY Process Intelligence: How a Financial Services Company Uncovered $6 Million in Hidden Savings