KENDAXA Holding
Enhancing Business Processes through the Power of AI

The rapid advancements in artificial intelligence (AI), machine learning (ML), and robotics technologies have brought business automation processes to the cusp of maturity. Today, these technologies are not only performing mundane and repetitive tasks more efficiently but also accomplishing activities that include cognitive capabilities once considered too difficult to automate successfully. However, most companies only offer custom AI solutions that hamper the quality and costefficiency of AI projects. Chris Blaschke, Founder and CEO at KENDAXA Holding, observes, “Typically, custom AI solutions come with a trade-off, where most of the time, businesses have to sacrifice on either the robustness, expeditious delivery or affordability of the solution.”

Leveraging the power of AI ‘a Leipzig-based company’ KENDAXA Holding, addresses all the aforementioned inefficiencies pertaining to AI projects. Rather than taking a custom approach, the company undertakes an assembly approach to providing AI, ML, and Data Science solutions to automate and optimise business processes in financial services and manufacturing industries. More importantly, while other existing solutions focus on automating standard processes, KENDAXA Holding delivers solutions to automate complex processes where several parameters have to be evaluated for efficient decision-making. “Our core focus is on multi-dimensional dependency mining, where we solve complex problems of connecting end to end data points and understand different kinds of attributes, events, and other elements,” states Blaschke.

Oftentimes, poor data quality with substandard decision-making and a reduced ability to make and execute strategy is one of the biggest roadblocks in the successful implementation of AI projects. To this end, KENDAXA offers Master Data Refinement, which includes data cleansing, deduplication, and enrichment of data, to ensure the analysis is based on the best possible data set.

In addition, it offers the Intelligent Documents solution that enables the processing of structured, unstructured, typewritten, and handwritten documents. With pattern recognition, mining methodologies, and ML algorithms, the solution identifies the relevant data points without manual intervention. “Instead of processing standard invoices, our focus is on extraction and processing of complex documents and business cases,” mentions Blaschke. For example, in the insurance sector, the Intelligent Documents solution analyses contracts and policies, blacks out any sensitive information, anonymises documents, detects handwritten elements as well as compares them with historical documents without any manual intervention. More importantly, KENDAXA offers significant administrative advantages to its clients, enabling them to configure the solution—document processing type and patterns—according to their business requirements.

Intelligent Documents as well as the company’s flagship product, BOM Validator, are AI-based, continuously selflearning solutions. The latter automates quality assurance of complex Bills Of Materials (BOMs) for discrete variant manufacturing. Usually, BOMs have several discrepancies, such as duplicating parts of the BOM from other construction layers, insufficient screws, and incompatible materials due to over-reliance on manual processes by the engineers. While finding these errors can take up to a week with the manual processes, the BOM Validator can automatically find errors in the BOMs within minutes with 95 per cent more efficient than the manual processes. Notably, although there are many BOM Validation solutions available today, they are rule-based solutions; thus, they lag far behind the AI-driven KENDEXA Holdings BOM Validator. “Our BOM Validator can extract millions of dependencies and relations between different parts and combinations within the bills of materials and find any potential issues,” informs Blaschke. Besides, the solution can also recreate the dependencies, rules and relations between materials and attributes of materials to understand and validate the construction.

Along with Intelligent Documents and BOM Validator, KENDAXA Holding renders many other AI solutions to help organisations improve their business processes. And, in order to strengthen the solutions, the company’s Intelligent Platform offers all the necessary features—configuration layers, user management, and others—to support its applications.

Accompanying the platform is a Business Process Model and Notation (BPMN) standard-based workflow engine that provides a graphical notation for specifying business processes in a business process diagram (BPD). The workflow engine enables organisations to integrate their software or other products with KENDAXA’s solutions using APIs and other intermediaries, as well as configure the solutions according to their business requirements.

“In essence, KENDAXA offers better, faster, cheaper deployment of sophisticated AI, through a growing series of SaaS-based apps powered by an innovative platform, making AI affordable for small and mid-sized businesses,” says Robert Koolen, Head of Marketing at KENDAXA.

Several financial institutions and manufacturing companies have leveraged KENDAXA’s AI-based solutions to improve their bottom line. Blaschke shares an instance of some German and French banks where KENDAXA Holding helped them speed up as well as eliminate manual errors in release and financing processes through automation. The company automatically analysed the economic and personal data of the banks’ customers to help them make more efficient and rapid decisions.

With several such success stories in the financial and manufacturing industries, KENDAXA Holding now plans to expand to other markets and has established key partnerships with several industry giants such as SAP, Siemens, Cognizant, among others. KENDAXA Holding also aims for global footprint expansion and is opening its first office in the U.S. next year. “Our aim is to enhance the efficiency of people with the power of AI, and we will keep innovating our solutions to help our clients realise more value from their AI projects,” concludes Blaschke.