Botminds and Cognizant - Partnership Value for Enterprises07 December 2022
As enterprises accelerate process automation, the market is moving towards a digital data landscape where IDP platforms play a vital role in democratizing the data. Watch Abhinav Kolhe talk about use case scenarios that are transforming customer experience and benefits using Botminds AI Platform.
Note: This transcript has been edited for clarity.
I am an Intelligent Process Automation (IPA) practitioner from Cognizant. We help customers and clients across industries by embedding automation across enterprises to improve the agility, streamline the customer and employee journeys, and effectively elevate the experiences.
What we do to implement that and provide this type of automation experience is by deploying various technologies, tools like RPA Platforms, AI, ML, low-code, no-code platforms, API management solutions and cloud native solutions. Through this, our practice basically offers hyper automation at scale across all the vertical segments, and we offer consulting, operating model setup and advisory consulting.
Hyper automation journey is not complete without a proper IDP solution in place. We explore a lot of IDP platforms in our CoE - which is like an incubation cell that we run. And Botminds is one of the platforms that has gone through this incubation. We have certified and looked at various use cases that Botminds can support - and hence we chose this partnership.
Here are some use cases that we have done on Botminds (platform). The first one is about contract analytics. Essentially, extracting data from a complex contracts is, something that we have achieved using the Botminds Platform.
The second one is KYC customer onboarding scenario here various types of documents like ID Proofs, statement Letters, financial statements from a customer when he/she is trying to get onboarded into a bank or enterprise.
The third one is a very interesting - where we have seen like most of the companies have to report financials they also need to do ESG reporting – that will become a very important aspect. So, we are also doing art of possible work with Botminds to figure out. How can we do the ESG sentiment, profiling using some of the features on the platform like crawling hundreds and thousands of pages, collecting that information and getting positive, negative sentiments from the events that have happened – are things we are doing in art of the possible.
And the last one is in the asset servicing space, which is from the banking world. There are a lot of complex documents in this space, from stakeholder notices to evaluation reports to capital call notices - I would say that the platform is quite matured enough to address these varieties and cross cutting vertical use cases.
Some of the things that I personally liked about the platform are the Table AI which helps us to solve financial statements. And the Query API with which one can discover documents based on a query. E.g. give me all documents which have got contracts of more than 50,000 value. That's another very important feature many other platforms do not have. This web crawling is another one that is unique to the platform that (Botminds) bring to the table. And of course, the last one is the no-code interface that you have given to us and all the SI partners to build the models at the speed of light.
The partnership outlook that we are looking at right now with Botminds - one is the OEM partnership that Cognizant has with Botminds and the other is a reseller agreement. We have trained ~15 people in the CoE today with 50+ people going on to get certified. There is a focus on building industry solutions as well as focusing on leading from the front when it comes to the RFPs and leads that come to us.