AI-led finance transformation brings efficiency, simplification, and drives valued outcomes

Mired in the day-to-day challenge of automating manual processes, many CFOs focus on short-term goals and have little time to develop long-term strategies to leverage AI for business outcomes and value delivery.

Wipro’s Cognitive Finance solution infuses AI into the finance value stream to optimize business operations, drive intelligent business enablement, and strengthen control and compliance. This infusion allows CFOs to operationalize intelligence and, ultimately, enable their finance transformation efficiently and simply.

Empowering businesses to manage finance and accounting operations for improved productivity, faster turnaround times and cost savings, Cognitive Finance presents better information access and customer interaction through a comprehensive portfolio of cognitive-led intelligent financial services.

Working across the finance and accounting value chain, Cognitive Finance’s range of solutions allows enterprises to gain a competitive edge through:

• Revenue Prediction
  Accurately predict future financials with a deep neural net using historical data
• Contract Intelligence
  Flagging discrepancies in contracts after extracting important information.
• Onboarding Supplier/Customer
  Quick tracking of issues identified with existing suppliers and during supplier onboarding
• Anomaly Detection
  Evaluating historical data, identifying process gaps, and proactively detecting anomalies like duplicate and fraudulent invoices, late payments, and high-risk transactions.
• Market Intelligence
  Providing the latest information about market trends, industry news, business models, and mergers and acquisitions.
• Conversational AI helpdesk
  Automated resolution of vendor/supplier queries using virtual conversational agent. 

The additional AI-based offerings increase operational efficiency through automation and further finance transformation by allowing companies to build and implement innovative use cases for customers and create new revenue streams. To identify and discover AI use cases in a CFO organization, Wipro follows a unique methodology called Enterprise Intelligent Quotient framework (E-IQ) which uses the five pillars of Sense, Decide, Act, Interact and Adapt, that benchmarks your current E-IQ from a scale of 0 to 10 and provides a roadmap to attain an optimal E-IQ score for your finance organization.

Cognitive Finance helps enterprises build intelligent financial services by turning data into information, and information into insights, with AI-driven intelligence infused across multiple financial processes. To learn more about how Cognitive Finance can deliver on real-time insights and on-the-spot future forecasts, contact our team.