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GCP Migration and enhanced financial intelligence for RMI Insights

Introduction:

Rocky Mountain Innovations Global, Inc. (“RMI Insights”) is an early stage startup, destined to disrupt the way companies currently curate financial data and report information. They intend to primarily serve small to mid-market enterprises across the USA. RMI Insights is a financial modeling automation company that helps companies realize intelligence opportunities and add value through its predictive modeling and analysis tools. Founded in 2014, RMI Insights is based in Denver, Colorado.

Why Pluto7 ?

RMI Insights has been engaged with Pluto7 to build solutions on GCP. They are looking to continue the engagement with Pluto7 Consulting and wish to continue by exploring ways to build unique competitive advantages within its product to ensure its customers realize meaningful value in an increasingly complex and competitive market flooded with financial reporting tools.

Objectives:

  • A Pluto7 solution which would give efficient performance gains and reduce time consumption throughout the process.
  • Enhance operational efficiency by outsourcing financial analytics at affordable cost
  • Apply necessary calculations to the fields in the pdf to gain insights.

Pluto7 Solution Approach:

  • Phase 1: GCP Setup and Migration
  • Phase 2: Extract actionable insights by leveraging GCP tools
  • Phase 3: Utilize Google’s ML/AI to generate reports

For more information
www.pluto7.com/success-stories

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Industry Finance

Organization Name: RMI Insights

Challenges

  • The customer has various kinds of data sets and file uploads take a longer time.
  • Extracting data from different types of consolidated financial statements was complicated
  • Preserve parent-child information between the fields in the statement.

Results

  • Successful setup and migration of the customer data on GCP Cloud Storage.
  • The image data provided by the customer is processed using Document AI (Document OCR) and the output is used for building insights and generating reports.
  • Converted PDF document data into tabular format in BigQuery using Document AI .
  • Extraction, transformation and loading of the contents in the financial statement (.pdf,.csv,.xls) to the appropriate JSON format preserving the parent-child relationships.
  • As a part of data analysis, key entity extraction is carried out on the raw data.
  • Additional calculation checks to verify extracted information, for an extra layer of accuracy.
  • The Pluto7 best-fitting ML based model scans the factual data, followed by analysis, extraction and classification of the documents for building reports.
  • The solution accurately converts financial statements to a standardized format.

Products Used

  • Cloud Storage
  • Document AI API : Document OCR
  • Vertex AI
  • Cloud AutoML
  • BigQuery
  • Cloud Natural Language API
  • Kubernetes Engine
  • Kubernetes