Finance departments in big corporations typically handle all transactions in and out of the company, and they have to adhere to certain regulations while doing so. Enterprise software tools like SAP help finance workers by automating most of these processes according to regulations. However, since tools like SAP are very complex, finance departments waste a lot of time while attempting to train other departments to use those tools properly.
A typical scenario --> Marketing wants to buy things. They have to submit purchase orders (POs) to the finance department to do this. There are many types of POs, and many fields in those forms that need to be filled right for the finance department to take it into account. Finance departments typically employ a few people just for such cross-departmental collaboration work in order to speed-up processes. However, this is naturally a waste of talent since those employees can provide more valuable work instead of digging through documentation!
HIVE™ can help the finance team here and save them from the extra effort. After processing thousands of pages of SAP Ariba documentation, HIVE™ becomes ready to answer any question about the tool!
Consultants
Another use case for HIVE™ is consultancy work.
For due diligence work in mergers and acquisitions (M&A), consultants need to extract structured information from large databases of companies that take part in the deal. While the deal takes place, these databases typically get temporarily loaded into “virtual data rooms” (VDRs), which are basically high-performance and secure storage services designed to keep the data “in the room” secure.
Due to the confidentiality of the data kept in these VDRs, the providers of the VDR service have to “air-gap” the VDR from the rest of the world, and thus, cannot utilize open cloud-based AI and software services such as ChatGPT etc. On-premises deployment of such applications is the only solution. HIVE™ gets deployed on-prem either on the VDR side or on the consultant side to solve this problem by providing answers to questions that consultants can ask or by summarizing information from various documents in detail.
