"SoftExpert's technology has been a real milestone for us, bringing significant change to our processes and directly impacting the experience of our cooperative members. Modernizing our technology is crucial for us to keep progressing and enhancing our performance. That's why we are committed to extending these solutions to other internal processes, as we believe they are disruptive technologies with great potential for application in various areas. A true success story in automation and artificial intelligence, which is already inspiring other financial cooperatives to optimise their processes through technology."
Ademir José Carota - Managing Director of Sicoob Cocred
Significant reduction in processing time
Registration update times were reduced by 70%, decreasing from hours to just minutes
Intelligent automation with AI
The implementation of SoftExpert IDP, leveraging artificial intelligence and machine learning, has automated data extraction
Integration with other systems
SoftExpert Suite was easily integrated with other tools such as ERP, RPA and Power BI.
Sicoob Cocred
As one of Brazil's largest financial cooperatives, Sicoob Cocred has celebrated 55 years of successful operation. It currently serves nearly 76,000 members, including individuals and businesses across various sectors. The cooperative's equity stands at R$ 1.5 billion, a milestone achieved by few institutions in the country. Its service network expands annually, now comprising 42 branches. With assets of approximately R$ 12.5 billion, Sicoob Cocred also boasts one of the largest loan portfolios among cooperatives, totaling R$ 8.9 billion, underscoring its commitment to fostering business growth and job creation while contributing to national economic development.
Sicoob Cocred achieves 70% faster record updates with SoftExpert’s innovative technology
Using artificial intelligence and machine learning, SoftExpert IDP quickly transforms complex documents into relevant data, streamlining critical processes with just a few clicks
Sicoob Cocred, one of Brazil's largest financial cooperatives, has transformed its record update process, achieving a remarkable 70% reduction in processing time using SoftExpert IDP, which employs artificial intelligence and machine learning to convert complex documents into actionable data.
Previously taking hours or even days, record updates can now be completed in under 30 minutes, allowing teams to concentrate on strategic initiatives.
In just three months, document processing capacity has tripled, with over 7,500 documents processed accurately. This optimization not only enhances operational efficiency but also strengthens Sicoob Cocred’s commitment to better serve its members securely.
Advanced data extraction and integration
The financial sector grapples with vast amounts of data daily, necessitating precise and secure processing of documents, records, tax returns, contracts, and vouchers. Sicoob Cocred's significant information flow poses compliance challenges that demand accuracy, with no margin for error affecting data integrity or member experience.
SoftExpert stands out by integrating BPM (Business Process Management) solutions and IDP (Intelligent Document Processing). This combination automates record updates, significantly reducing processing time and errors, ensuring compliance with sector regulations and enhancing member experiences.
Integrating RPA (Robotic Process Automation) with the SoftExpert Suite has further improved efficiency and accuracy. By automating repetitive tasks, staff can focus on more strategic activities. This synergy boosts agility and transparency in data management, fostering a collaborative work environment.
This combination has not only increased agility and transparency in data management, but has also enabled the institution to optimise its operations, ensuring that the team works more collaboratively and effectively.
Accelerated growth and operational efficiency
As Sicoob Cocred expands—now present in 35 cities in São Paulo and Minas Gerais with 76,000 members—it faces operational challenges associated with growth.
Annual record updates, crucial for efficient operations and member security, became increasingly complex. Until early 2024, this process was manual, with updates for intricate records like income tax returns taking hours or even days, particularly for members with multiple assets.
Automation and AI with SoftExpert
To tackle these challenges, SoftExpert has implemented IDP (Intelligent Document Processing), starting with the need to unify the updating of various file types. The collaboration between Sicoob Cocred's registration and IT teams and SoftExpert was key to this initiative.
Ademir Carota, Sicoob Cocred's Administrative Director, emphasizes that the registration update involved a complete overhaul focused on efficiency. "When we began working with SoftExpert, we knew the transformation needed to extend beyond simple automation. We aimed to create a smarter workflow that would truly impact the entire business. This vision became the foundation of the project, unifying previously fragmented processes and delivering the efficiency we sought."
IDP surpasses traditional OCR (Optical Character Recognition) by utilizing machine learning and AI to interpret complex documents. It extracts text, classifies data, and recognizes contexts, particularly for documents like the Declaration of Assets and Rights in Income Tax, which often lack a fixed pattern. This adaptability is vital, as this information constitutes a significant portion of the data needing updates.
By integrating IDP with the BPM platform, SoftExpert automates the reading and extraction of data from member documents. Information once entered manually is now captured and processed intelligently, allowing staff to focus on strategic tasks and enhancing operational efficiency.
In practice, IDP analyzes data from images or PDFs, automatically extracting key information such as names, CPF numbers, and amounts, then entering it into the management system to eliminate manual data entry. The system learns from new document types, continually improving its efficiency. This approach has led to substantial time savings and error reduction, enabling Sicoob Cocred to process large volumes of documents quickly.
High operational efficiency, governance and security
The results of this transformation were immediate. In just three months, Sicoob Cocred processed more than 7,500 documents, tripling its processing capacity. The time taken to update registration data was drastically reduced from days to less than half an hour.
Beyond numbers, automation has delivered intangible benefits such as enhanced data security, improved compliance, and an overall better member experience.
"In our business model, the member is always at the centre of everything we do, and with SoftExpert's help we can do this more effectively and offer a better and more transparent experience," explains Carota.
As Sicoob Cocred continues its digital transformation, it sees opportunities to automate additional processes, implement innovative solutions like ESG and GRC, and increase the use of the Project Management module for a more efficient and sustainable future.
Sicoob Cocred is poised for ongoing innovation. Interested in how this technology can transform your business? Contact SoftExpert and discover ways to enhance your operational efficiency.
