Project Overview
A leading specialist advisory firm based in USA providing financial business data to Economic Development Organizations
BFSI
Business Needs
The firm gathered reliable investment intelligence for EDOs worldwide, facilitating Foreign Direct Investment-FDI. They faced challenges in standardizing, updating, and verifying vast amounts of financial data. To maintain an accurate and flawless database crucial for informed business decisions and avoiding financial losses, they were seeking a partner for efficient data verification.
Challenges of Financial Data Collection
- The financial data verification process involved thousands of data records with extensive details spanning over 80 fields, including employee count, revenue, phone numbers, addresses, foundation year, and headquarters location.
- Managing various verification sources led to inconsistencies within the data. Identifying the most reliable source was challenging.
- Additionally, the rapid deterioration of customer information posed difficulties in effectively verifying datasets.
Solutions and Results
Make your financial data accurate and reliable.
Speak to us TodayIn this ongoing project of data verification for financial advisory firm, Hitech BPO curates and verifies financial datasets muddled with duplicate and inconsistent data. To ensure a high-quality and integrated database, we utilize macros, customized bots, and rule-based scripts, improving accuracy and efficiency.
- A structured workflow was implemented, dividing the data specialists into two teams based on task complexity and resource competency.
- Fields were classified and assigned to different teams for verification according to their complexity.
- Combining manual methods and ML-based models, duplicates were identified and eliminated.
- Details such as company name, locations, phone numbers, revenue, and employee count were verified and validated by scanning multiple websites, extracting precise addresses of global headquarters, and gathering relevant data.
- Rule-driven algorithms played a vital role in verifying and identifying genuine records across multiple sources. The verified and validated data was consolidated into a structured database and subjected to automated rules for data cleansing and standardization.
- Finally, the refined data was presented in a visually appealing, interactive, and user-friendly investment portfolio format for easy access and comprehension by the financial advisory firm.
Business Impact
Won multiple bids to supply financial data
Improved operational data quality
Increased workforce productivity
