Icreon streamlined legal workflows for Labaton Keller Sucharow with automated solutions for investment loss analysis, resulting in faster processing times and 100% data accuracy.
Key Takeaways
Direction
Speed
Velocity
The Challenge
The law firm specializes in loss analysis for large companies and individuals by monitoring and analyzing daily stock portfolios involving thousands of trades. To initiate the analysis, the team gathers client financial data and creates class action lawsuits based on the data feeds to determine if any of their clients held stock during relevant events.
Previously, this process was entirely manual, requiring the team to collect, upload, and sift through thousands of data records using outdated systems. Running programs to match stocks with class action lawsuits and conducting loss analyses for transactions spanning thousands of records was time-intensive and inefficient. Processing thousands of files often took hours, delaying critical actions.
Our Solution
Icreon implemented PAIGE (Portfolio Analytics & Intelligence Generation Engine) to automate manual workflows, including case creation, file handling, and data uploads. Leveraging RPA and advanced analytics, PAIGE enabled real-time loss analysis, improved accuracy, and streamlined data integration. The solution transformed operations, reducing processing time from weeks to minutes while enhancing scalability and compliance.
Direction
Icreon addressed inefficiencies in the law firm’s manual data collection and loss analysis processes by conducting an in-depth assessment of workflows and identifying automation opportunities. The solution involved creating an automated platform using RPA technology to minimize manual intervention, manage large datasets, and improve accuracy. Icreon developed a roadmap for implementing PAIGE (Portfolio Analytics & Intelligence Generation Engine), integrating RPA and third-party tools to upgrade traditional systems and enhance the speed, consistency, and precision of loss analysis.
Speed
The Icreon team implemented the Portfolio Analytics & Intelligence Generation Engine (PAIGE) to automate and streamline manual tasks such as data collection, file handling, and loss analysis, leveraging specific data points and criteria to evaluate client investments in stocks and bonds. With PAIGE in place, the system can generate reports, distinguish between records for clients and app users, and flag missing or mismatched information. Features like client data validation, intelligent flagging, and dynamic reporting ensured speed and accuracy. The system was designed to handle high volumes of records effortlessly, enabling scalability.
Achieved
With the implementation of PAIGE, Labaton transformed legal data processing operations. Tasks such as data downloads, uploads, and loss analysis were fully automated, reducing processing time from weeks to mere minutes. The intuitive interface and RPA integration minimized errors, ensured compliance, and optimized workforce utilization. This approach not only met but exceeded the client’s goals, setting a benchmark for efficiency in legal analytics.