Impact at a Glance
- Overall productivity uptick of 60%
- Improved DDQ answer tracking with custom-built dashboard
- Enhanced consistency in answers provided for DDQs
- 1000s of text heavy documents indexed in the knowledge base
About the client
Founded in 1998, our client is a leading asset management firm focused on opportunistic investing in credit and fixed income markets globally. With more than $20 billion in capital, client employees over 190 across its offices in New York, London and Singapore.
Business Challenge
Before adopting Cognida.ai’s solution, the client found its employees manually responding to vendor due diligence questionnaires (DDQs) that were repetitive in nature extending the overall timeline to 4 weeks. Upon mapping their workflows, following factors were found to delay the process:
- Departmental data needed to answer DDQs siloed with no common knowledge base
- Lack of standardized DDQ formats (word or excel) blocking use of traditional AI
- Manual review of lengthy unstructured data that has necessary information scattered
Solution: Generative AI streamlines the process of answering the due diligence questionnaires.
- 55% reduction in processing time by summarizing lengthy documents such as 300-paged financial prospectus to 10-page summary.
- Intelligently assessing risk through analysis of hundreds of variables across multiple sources to flag financial inconsistencies, regulatory issues and market shifts.
- Leveraging in-house AI models & LLMs to dissect through unstructured documents in formats as word and excel to provide insights aligned to client’s investment strategy.
- Dashboard with a track of questions and smart approval workflows to connect professional across departments.
