Top 5 Financial Institution: IT Asset Management
How a Top 5 global financial institution automated storage maintenance contract reconciliation across 100,000 assets and 8 global data centers.
Asset Reconciliation Challenges
Reconciling storage maintenance contracts across 8 global data centers and 100,000 assets required 3 months of manual effort per cycle, involving spreadsheets, VLOOKUPs, and coordination across 5 systems.
AutoReports powered by Blockify automated extraction, normalization, and reconciliation of PDF order forms against 100,000 internal asset records on Intel architecture.
Implementation Areas
Reconciliation
- PDF order form extraction
- Asset record matching
- Contract normalization
- Decommission detection
Results
- $8.25M savings from waste elimination
- 3 months to under 1 week
- Error rate from 3% to <0.1%
- 673% ROI
Financial Impact
The solution reduced processing time from 3 months to under 1 week, eliminated $8.25M annually in reconciliation window losses, and achieved a 673% ROI with 78x improved AI accuracy.
Key Outcomes
- Net Benefit: $10.1M annual net benefit ($11.6M gross - $1.5M cost)
- Speed: Processing from 3 months to under 1 week
- Accuracy: Error rate from 3% to less than 0.1%
- Payback: Pays for itself in first 7 weeks of each cycle
Download the Full Financial Services IT Asset Management Case Study
Get complete details on automated asset reconciliation with 673% ROI.
- $10.1M annual net benefit
- 673% ROI achieved
- Processing from 3 months to 1 week
- Error rate reduced to <0.1%
- 100,000 assets reconciled