Fundamentia
Simplifying Data Identification, Classification, and Extraction

Humans are the masters of cognitive language communication. The complex system of words, structure, and grammar allows us to document actions that another person can replicate regardless of their experience. As a result, when two people speak the same language, they are able to share ideas, thoughts, and feelings more profusely.

Similarly, in an organisational setup, it is critical that everyone develops a common language to draw upon the collective wisdom of the workforce. Inarguably, most business leaders regard ‘data’ as that common language. When companies drive their operations based on ‘hard facts,’ it increases their internal alignment, helps teams collaborate, and allows everyone to see how their efforts are moving the needle and contributing to organisational objectives. Even the billionaire investor Warren Buffet once said, “Accounting is the language of business,” and in many ways, he was right!

But the main challenge is often not understanding the significance of ‘data literacy’ but identifying, classifying, and capturing data within an organisation in the most profitable way. Since many companies still rely on extracting data ‘by hand’ for operational processes, it makes their business’s decision-making slow, expensive, and rife with errors.

So how does one address this concern?

The Answer Lies with Digitalisation

“With the current global economic scenario, an immaculate business workflow is no longer an option; it is a necessity. And, digitalisation of processes, especially its cognitive component (data), holds the key to making those efforts conceivable,” explains Manuel Blanco, CEO of Fundamentia–an operations consulting company that is constantly invested in making such digitalisation needsplausible for its clients. But Blanco notes, digital technologiesalone cannot address the requisites of a complex business workflow. Artificial Intelligence and robots have to be designed and implanted with ‘human intelligence’ to create a wholesome impact. Therefore, combining the clout of technology with superior business domain knowledge is of utmost importance. Fortunately, this is what Fundamentia brings to the table.The company boasts a diverse team specialising in the different disciplines of knowledge: linguistics, mathematics, computer science, and functional knowledge of various industries, and alongside leverages sophisticated technologies, to guide its clients in streamlining data-driven processes more productively.

“Fundamentia can help you extract data from any kind of document.”

One of the stellar offerings of Fundamentia is SimplÿData, which is regarded as the next-generation of text mining solutions.

At the core of SimplÿData is a set of cognitive capabilities that empowers companies to use the knowledge contained in their large volumes of unstructured information. SimplÿData software blends the power of Natural Language Processing (NLP) and AI algorithms to understand the meaning of words and put them in context, as a human would. Then, a smart and synergic combination of SimplÿData’s hybrid “statistical and symbolic” methods identify and extract reliable data for a business to glean meaningful business insights.

Even the integration of the SimplÿData with a client’s existing IT infrastructure is seamless, via the SimplÿData API. When implementing SimplÿData, all a client needs to do is describe the processes they want to automate and the documents they want to identify and extract. Based on the requirements, Fundamentia starts “Set up Project,” which has a 99 percent success rate in document identification and a 95 percent success rate in data extraction. Subsequently, Fundamentia also provides additional services for the identification and extraction of the data.

At this juncture, how the robustness of SimplÿData has benefitted companies warrants a case study. In one instance, a large systemic bank of the European Union approached Fundamentia. The company usually receives thousands of syndicated loan event announcements every day by email for new operations, new dispositions, principal repayments, interest payments, and disposition fees liquidation. They needed a technology partner who could help them find a suitable solution to manage the data deluge. On deploying SimplÿData, the Bank BPM started sending the emails to the SimplÿData, where the software read both the body and the attachments of the emails. Then, the events were identified, and about 15 data were extracted from each event and returned to the bank’s application. The automation greatly paced up the bank’s processes and facilitated better and faster maintenance of its syndicated loans. “This service has been running for four years now, and the average success rate is 98 percent,” mentions Francisco Morales, the COO of Fundamentia.

This is but one of the instances where Fundamentia has substantiated themselves as true ‘solution implementers,’ accompanying clients in their digitalisation path and ensuring positive results to improve the quality of their data. Basking in the glory of such competencies, Fundamentia wants to become the springboard of success for many more organisations. In that quest, the company is slowly but steadily expanding its axes both geographically and business sector-wise. “And, in all our endeavours, we want to keep emphasising the fact that while technology is essential, what makes the real difference is how they are implemented. Or if we put it in our way, “Human Intelligence” is what we constantly strive for, and it is demonstrated heavily through all our client engagements,” concludes Blanco and Morales.