Case Study: Hitachi Payments achieves 2x faster bank statement reconciliation with Docsumo

Hitachi Payments cuts bank statement processing from 2 hours to 2 minutes with Docsumo

Hitachi Payments, an Indian subsidiary of Hitachi and a white label ATM provider, faced a significant challenge in its monthly reconciliation process. Its accounting team was manually processing over 3,000 bank statements from ATM operators, a task that took up to three hours per document. To overcome this burden, Hitachi Payments implemented document AI from Docsumo.

Using Docsumo's advanced AI and NLP algorithms, the solution automated the data extraction from over 36,000 bank statements annually across 50+ different layouts. This reduced the processing time for a single statement from hours to just two minutes. The implementation achieved over 99% data extraction accuracy and saved the company more than 6,000 man-hours per month, enabling faster and more accurate payment reconciliations.

Hitachi Payments