How Enterprise AI Solutions Cut One Company’s Report Auditing Timeline by 78%

Learn how Hakkoda is leveraging the power of generative AI to address common challenges of the modern reporting environment while cutting as much as 20 months off a client's report auditing timeline.
March 26, 2024
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If there’s a downside to the data-driven revolution of the last decade, it’s that companies are now drowning in a sea of data sprawl and convoluted reporting environments that sometimes make it hard to hone in on valuable insights. Traditional tools and methodologies, from Tableau to Excel, are no longer sufficient to meet the growing demands for real-time insights and streamlined data management. This is where Hakkoda steps in, offering groundbreaking enterprise AI solutions that seamlessly integrate with Snowflake and redefine the landscape of data consultation and reporting rationalization.

In this blog, we will walk through some of the greatest challenges businesses face when it comes to navigating modern reporting environments, then explain how enterprise AI solutions from Hakkoda have been designed to alleviate these pain points for our customers. Finally, we will walk through the case of one financial services business that was able to cut its report auditing timeline by over 77% while enabling its internal teams to respond to regulatory changes in the months leading up to T+1.

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Reporting Environments: An Age-Old Struggle

Businesses today face a myriad of challenges in managing their data ecosystems. The sprawling nature of data, coupled with the redundancy of reports and the shadow IT phenomenon, creates an environment that is both inefficient and prone to errors. 

Companies are often locked in a perpetual cycle of trying to manage and make sense of this chaos, leading to decision-making paralysis and significant resource drain.

Enter Hakkōda’s Enterprise AI Solutions

Hakkoda is at the forefront of a transformative shift, leveraging AI Copilots to address the multifaceted challenges of modern data environments. Our suite of AI applications are designed to guide businesses through the four critical phases of data management: Assessment, Discovery, Rationalization, and Migration.

  1. Assessment: Traditionally a time-consuming process, our AI Copilots streamline assessment into a matter of minutes. With just an API connection, businesses gain unparalleled transparency into their reporting environments, understanding precisely what needs to be addressed and how.

  2. Discovery: We delve deep into each report, analyzing factors like complexity, ownership, and usage. Our AI tools identify the interconnections and dependencies across the data ecosystem, allowing businesses to prioritize their rationalization efforts effectively.

  3. Rationalization: What once took days or weeks of manual effort can now be achieved in a single call. Our AI applications provide real-time recommendations for report rationalization, instantly rewriting reports to align with optimized practices.

  4. Migration: The final step, report migration, has historically been a bottleneck for businesses. With the insights and guidelines derived from the rationalization phase, Hakkoda enables the seamless recreation of reports in modern platforms like Sigma, drastically reducing the time and effort required.

Customer Success: An AI-driven Approach to Report Auditing

A real-world example that epitomizes the power of Hakkoda’s AI-driven approach involved a finance sector client with a sprawling network of data sources and reporting tools. Faced with the daunting task of regulatory reporting and risk assessment, they turned to Hakkoda.

  • Before: The client struggled with a fragmented reporting environment that took 18-24 months to audit manually, with significant personnel and financial resources dedicated to the task.
  • After: Implementing Hakkoda’s AI Copilots, the assessment and discovery phases were completed in days. Rationalization discussions led to immediate actionable insights, and migration to a unified platform was accomplished in under 4 months.

This transformation not only streamlined their reporting processes but also provided the agility to respond to regulatory changes swiftly, offering a competitive edge in the fast-paced financial market.

Fast Track Your Reporting with Hakkōda’s Enterprise AI Solutions

The era of struggling with data sprawl and inefficient reporting environments is coming to an end. Hakkoda’s innovative enterprise AI solutions, including the copilot above and our Kinetic AI (KAI) for Contract Workflows, are paving the way for businesses to harness their data effectively, transforming challenges into opportunities. By rationalizing reporting environments and modernizing ETL processes, companies can now look forward to a future where data drives growth and strategic decision-making.

At Hakkoda, we’re not just changing the way businesses manage their data; we’re setting a new standard for the industry. Join us on this journey to the forefront of data innovation, where every company can unlock the full potential of their data assets.

Ready to streamline cumbersome reporting processes and find the insight your business needs to succeed? Let’s talk today.

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