Asendia Introduces Artificial Intelligence for Global Data Analysis

11 July, 2019

At Asendia, we constantly strive for innovation in business processes, tools, and collaboration. We decided to take our first venture into exploring the opportunities of Artificial Intelligence (AI) in our global finance across 16 countries.

Artificial Intelligence simulates human intelligence processes by computer systems. By using intelligent analysis of financial data, Asendia has introduced an AI-tool called “Natural Language Generation (NLG)” to analyze and turn structured financial data into automatic generated narrative reports like a person would do.

By applying business rules defined by the global finance controllers, the tool generates intelligent texts resulting in customized analyses and reports. Main advantage is the increase of productivity, saving a lot of time for our finance teams.

Three months ago, we started the pilot phase of the “Natural Language Generation” tool. The results have convinced us through their quality and accuracy of the automated input. Artificial Intelligence is creating value, not only in terms of resources, but as well by delivering a very systematic and customized analysis and allowing the finance team to focus on business aspects.

The solution used by Asendia has been developed by the FinTech company Addventa.

After this first very successful step into Artificial Intelligence, Asendia is looking forward to expanding AI into other business areas.