The digital transformation of litigation finance is changing rapidly, and with it the way companies structure their operations and services. At the heart of this change is the remarkable partnership between INKUBIT and AdvoFin. Austria’s leading and oldest service provider in the field of litigation financing of class actions and INKUBIT, an expert in digital solutions and transformations. This collaboration has not only changed AdvoFin’s digital footprint , but also created a blueprint for the future of litigation funding.
The Challenge: A Digital Transition
AdvoFin was challenged to optimize its complex and predominantly manual litigation funding system to enable a more efficient, cost-effective and transparent handling of class actions and to meet the demands of the dynamic litigation funding environment. The goal: to enable more efficient, cost-effective and transparent processing of thousands of customer claims.
Implementing an intelligent system for relationship management of plaintiffs, lawyers and other stakeholders and automatically calculating complex amounts in dispute was at the heart of their digital transformation agenda. The need for an integrated solution that enables intuitive document management, automated calculations and easy connection to websites and third-party systems became increasingly apparent.
The solution: A tailor-made digital infrastructure with Power Platform and Azure Open AI
INKUBIT responded to this challenge with a customized solution based on a combination of Microsoft Power Platform, Azure Open AI Service, Azure Functions , and Office 365 Apps , which are at the core of AdvoFin’s digital transformation of litigation finance.
Microsoft Power Platform
A suite of Microsoft tools that enables data analysis, app development, and automation. This platform allows companies like AdvoFin to implement customized solutions that are specifically tailored to their needs. For example, a company can automate repetitive tasks with Power Automate, visualize and analyze data with Power BI, and build custom applications with Power Apps—all without deep coding skills.
Azure Open AI Service
An artificial intelligence-based service that allows companies to integrate advanced AI models, such as those developed by OpenAI, into their applications. For AdvoFin, this means that complex algorithms for calculating the amount in dispute can be automated and constantly adapted to changing legal conditions without the need for human intervention.
Result: A prime example of digitization
INKUBIT’s process optimizations and digitization measures have turned AdvoFin’s internal processes upside down. The results underscore the impact that digitalization can have on day-to-day business. The numbers:
97% digitalization in the company
This impressive figure reflects the comprehensive transformation of business processes into digital formats. By automating and digitizing almost all internal processes with Power Platform, AdvoFin has been able to make its way of working more efficient, reduce case processing time, and increase customer satisfaction. The almost complete elimination of paperwork is a nice side effect and also contributes to more environmentally friendly business management.
Over 60% cost reduction
This significant cost reduction is the result of automating core processes through Azure Functions and Azure Open AI Service, and streamlining operations that were previously manual and time-consuming. By reducing manual work, AdvoFin has been able to save on personnel costs and allocate resources more effectively. This financial leeway now allows the company to invest in new technologies and growth areas to further strengthen its market position.
55% degree of automation in the value chain
By implementing automated systems and processes, AdvoFin has been able to automate more than half of its value chain. This improves the accuracy and efficiency of process handling. In addition, this also enables a faster response to market changes and customer needs. The automation of complex calculations and administrative processes has also reduced the workload of employees and allowed them to focus on more strategic tasks.
Real-time project profitability
With the Power Platform and specific Office 365 apps, AdvoFin now has the ability to analyze the profitability of projects in real-time, making strategic decisions easier.
85% automation of the process of microclaims
This high automation rate allows for quick and efficient handling of smaller claims, which used to be a time-consuming process. Automation has also reduced the error rate and increased the consistency of processing.
The way forward
Through the partnership with INKUBIT, we have been able to massively increase the degree of digitization in our processes and have been able to achieve an increase in efficiency of over 250%. The transformation through digitization and artificial intelligence of our business model has led to us being sustainable and future-oriented and also being able to explore new business areas.
These technologies have not only changed the way AdvoFin operates, but have also opened up new avenues for the future of litigation funding. With Power Platform and Azure Open AI Services, AdvoFin was able to streamline its internal processes. A considerable competitive advantage was also achieved. The success story of AdvoFin and INKUBIT is a shining example of how digital transformation can revolutionize companies.
AdvoFin has not only achieved success in the present, but has also laid a solid foundation for future growth and innovation. This partnership underlines INKUBIT’s commitment to supporting its customers through technological excellence and strategic vision.