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.
Turnkey AI 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
Related work is collected on the AI use cases in banking, financial services and insurance page.
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
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