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Case Studies

Top 30 Accounting Firm Implements SoftWorks AI Solution for Tax Preparation and Paper-based Forensic Accounting Processes

Business Challenge

A top 30 accounting firm was faced with the challenge of handling thousands of paper forms and financial documents on a weekly basis. Managing the documents was inefficient and costly; the firm required heavy manual intervention for processes related to tax preparation, forensic accounting, and redaction of sensitive information.

Solution

The firm licensed software from SoftWorks AI Technologies, leveraging their expertise in advanced data capture technology. SoftWorks AI provided a solution to batch convert high volumes of paper into searchable PDF files, while also developing intelligent solutions to automatically transfer tax preparation data, redact sensitive information, and improve keyword search of paper-based forensic processes.

Results

By implementing SoftWorks AI software, the firm maintained their commitment to advanced technology as a competitive advantage. By deploying an automated solution, the firm was able to redact sensitive information, reduce manual processing, decrease costs by migrating paper to a digital format, and improve the overall accuracy of the document search process.

Benefits

Objective Benefits Achieved
Reduce paper, migrate documents into digital format By converting paper into digital format, the firm located information faster, archived more reliably, reduced physical office space, enabled multiple users to view documents at the same time, and lowered MFP/hardware costs
Automate tax preparation workflow Increased employee productivity & efficiency by automatically transferring customer tax data from one form to another with rule-based data extraction.
Automate the forensic accounting process By implementing an automated system, users were able to expedite the document search and audit by flagging relevant keywords within forms. Through a more thorough keyword search, the firm protects itself from lawsuits while saving time searching documents.
Redaction of sensitive information Automatically locate and redact sensitive in-formation reliably from tax forms and financial documents.
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