Case Study 3
Smarter Tax Management with Generative AI for a Global Tax Firm

Using Elasticsearch and intelligent systems to streamline compliance workflows

THE CORE BUSINESS CHALLENGE

A leading global tax firm faced challenges managing high volumes of tax documents, which led to inefficiencies and operational costs. Their traditional methods were time-intensive, prone to errors, and limited in scalability. To maintain their competitive edge, they required a solution that could streamline workflows and ensure compliance.

Improve Efficiency: Manual document sorting and retrieval slowed down operations, causing delays in client services.
Reduce Errors: Errors in document categorization prompted the need for higher accuracy in managing sensitive tax data.
Ensure Rapid Access: Client queries necessitated quicker and more reliable document retrieval.
Strengthen Security: A scalable solution was required, prioritizing data protection and regulatory compliance.

Developed Classification Models: Contextual NLP-powered models allowed document categorization and extraction across formats.
Built a Centralized Repository: Elasticsearch delivered scalable and organized searchability for faster access.
Enabled Advanced Searches: Custom criteria like priority or weightage enhanced search precision and usability.
Ensured Compliance and Security: Encryption and strict access controls safeguarded sensitive tax data.

HOW WE SOLVED IT

The tax firm partnered with Infosys to implement an innovative solution combining Gen AI and Elasticsearch. This dual approach allowed them to transition from manual to highly automated, intelligent tax document workflows.

Generative AI Integration

Advanced natural language processing capabilities were applied to historical tax documents, creating a sophisticated classification model. This model enabled the system to understand and extract critical information with high accuracy from various document formats, drastically reducing human error.

Elasticsearch Integration

Elasticsearch was implemented to store documents in a centralized repository, equipped with quick and efficient search capabilities. Indexed by multiple criteria, tax data became instantly accessible, streamlining client-facing operations.

RESULTS AND VALUE

The adoption of Gen AI and Elasticsearch revolutionized tax document management for the firm, leading to significant improvements in efficiency, accuracy, and security. Their enhanced workflows set new benchmarks for operational excellence.

Reduced Manual Effort: Document categorization tasks saw a 70% decrease in manual labor requirements.
Enhanced Accuracy: Achieved 90% accuracy in categorization, significantly reducing handling errors.
Improved Retrieval Time: Tax documents became instantly accessible, improving response times for client queries.

AI IN ACTION

This partnership showcased the versatility of AI in addressing complex tax management challenges. Examples include:

Automating document classification with contextual AI models.
Building centralized, scalable repositories leveraging Elasticsearch.
Enhancing workflows with secure encryption for regulatory compliance.

By leveraging Gen AI and Elasticsearch, the firm is now empowered with an innovative, scalable tax document management system. This forward-thinking transformation positions them as trailblazers in adopting advanced AI for financial services.