Level up Debt Collection Process with AI
Debt collection is a critical aspect of financial management for businesses and organizations, usually associated with financial services and banking industries. In McKinsey report it is noted that generative AI could greatly impact the banking industry, boosting productivity by 2.8% to 4.7%, while yielding a significant financial windfall, adding $200B to $340B in annual revenues. […]
AI role in Data Use Agreement Processing
In today’s data-driven world, organisations across various industries are increasingly relying on data to drive decision-making and gain a competitive edge. However, the utilisation of data comes with significant responsibilities, particularly when handling sensitive or confidential information. This is where Data Use Agreements (DUAs) play a pivotal role. DUAs are legal contracts that govern the […]
Uhura Solutions introduces AI Copilot Builder: Unlocking the Power of Generative AI for Document-Driven Processes
Uhura Solutions has announced the launch of its groundbreaking service, AI Copilot Builder, aimed at revolutionizing the way organizations handle document-driven processes. This innovative service harnesses the extraordinary capabilities of generative AI to automate document processing and uncover invaluable insights from documents, reports, contracts, and agreements. In today’s fast-paced business landscape, the ability to access […]
AI Safeguards GDPR Compliance in the Digital Era
As businesses continue to adopt digital technologies in their operations, the amount of data they collect and process has increased significantly. The General Data Protection Regulation (GDPR) was introduced to ensure that businesses protect the privacy and data of their customers, serving as a set of rules and regulations governing how companies collect, use, and […]
IFRS 16 Lease Accounting: A Practical Approach with AI
The introduction of International Financial Reporting Standard 16 IFRS 16 brought about a significant transformation in lease accounting. As organisations grapple with the adoption of their accounting standards, they face the daunting task of reevaluating their lease management and accounting practices. The transition to IFRS 16 requires comprehensive assessment, categorisation, and appropriate placement of leases […]
AI’s Impact on Processing Service-Level Agreements (SLAs)
SLAs are contracts between clients and providers outlining expected service quality, with varying types based on services and stakeholders (Service-Based, Customer-Based, Multi-Level, Internal, Vendor-Based, Operational Level Agreement). All SLAs share performance metrics, responsibilities, and consequences for non-compliance. Therefore, it’s crucial to emphasise the significance of data quality and compliance, especially considering recent Gartner research, organisations, […]
AI elevates the automation of ISDA Master Agreements Processing to a proficiency level
ISDA (International Swaps and Derivatives Association) Master Agreement is a legally binding agreement between two parties that outlines the terms and conditions for a derivatives transaction and as such is widely used in the financial services industry. These agreements are complex documents and require careful negotiation to ensure compliance with applicable laws and regulations. As […]
AI-Driven ESG Reporting Redefines Business Sustainability
What is an ESG report? The need for businesses to report on their environmental, social, and governance activities has increased in recent years. ESG reporting is typically done manually, with human analysts collecting and analysing data from various sources, such as financial statements, sustainability reports, presentations, employee surveys, etc. This process can be time-consuming, costly, […]
Streamlining Invoice Processing with AI
Automation empowered by AI transforms the way businesses operate. In today’s business world, optimising processes and improving operational efficiency are imperative to staying competitive. One critical area that can make or break an organisation’s financial health is invoice processing. Manual invoice management can be time-consuming, error-prone, and resource-intensive, leading to delays, higher operational costs, and […]
The Role of AI in Anti-Money Laundering
In an increasingly interconnected and globalised world, it is crucial to ensure the safety and integrity of financial systems. One significant threat to the financial sector is money laundering, along with other financial crimes. To address these risks, financial institutions implement compliance measures – a set of rules, procedures, and protocols designed to identify, prevent, […]
