Automating Confidential Information Summaries on AWS
A leading asset management firm automated and streamlined the summarization of Confidential Information Memorandum (CIM) documents for analysts that resulted in a reduced workload, cost savings, and ensured consistency.
Our customer
Recognized as one of the largest global alternative asset management companies, our customer is dedicated to serving both institutional and individual investors. Their substantial scale empowers them to strategically invest in dynamic sectors poised for sustained long-term growth.
- Industry: Financial services
The obstacles they faced
Every week, the customer analyst teams at the organization receive tens of requests for CIMs (Confidential Information Memorandum). They must collect and collate all the required information to put together the CIM, pulling different forms of documents and other pertinent information from various systems and document drives.
Once they have all the information collected, they must perform the laborious process of reading through all these documents and creating summaries that include an investment thesis, market overview, target company overview, a substantial amount of profile information, company information, and an executive summary. It takes one analyst a full week to complete one CIM.
To meet the internal demands, the customer would have to hire additional analysts to meet the volume of requests received for CIMs. The overwhelming volume of CIMs also strains the analyst’s efficiency and increases the risk of inconsistencies in the documentation process.
How we helped
Rackspace Technology leveraged advanced Generative AI capabilities on AWS to streamline and automate the summarization of CIMs based on the customer's memo template, with the output of the process being a concise document and presentation (PPT) that captures the CIM's core details that included some of following information:
- An overview of crucial business products and services and financial metrics.
- Potential benefits such as market entry, partnerships, optimization opportunities, client relations, and synergy prospects.
The solution involved preloading the data in Amazon S3 to provide data access to the customer. The user accesses the data through a purpose-built CIM application built on AWS that generates predefined information or analysts can ask open-ended questions about the customer’s data. Pinecone was used to store, index, and retrieve customer document vectors, including CIMs and other financial documents supported by it.
Queries, prompts, and context are forwarded to an LLM, which is supported via Amazon SageMaker JumpStart with the Llama2 model. The LLM generates a summary based on the memo template provided by the customer and returns content answering the specific customer questions.
All query histories are stored in a database (Amazon DynamoDB) for auditing purposes. However, this history will not be used to influence future chat sessions to reduce any cross-pollination of customer information. An automated internal process will be initiated if a user requests that the memo summary and financial model be saved. This process will save the output to Amazon S3 in PDF, PPT, or Excel formats.
What we achieved together
Since deploying the solution, the average time to create a CIM has been reduced from one week down to four hours. In addition, the data points the analyst has to manually gather and check were drastically simplified due to the new solution. It takes approximately 50% less time to review and edit a CIM as compared to the manual solution in place before the deployment.
The customer can handle their data volumes and CIM documents consistently without needing to add additional analysts which in itself reduced millions in additional spend for hiring new analysts.
About Rackspace Technology
Rackspace Technology is the multicloud solutions expert. We combine our expertise with the world’s leading technologies — across applications, data and security — to deliver end-to-end solutions. We have a proven record of advising customers based on their business challenges, designing solutions that scale, building and managing those solutions, and optimizing returns into the future.