NEW YORK, Nov. 22, 2022 (GLOBE NEWSWIRE) — Yseop, a world-leading AI software company and pioneer in Natural Language Processing (NLP), today announced that L’Oréal deploys Yseop’s world-class enterprise automation platform combined internally as one solution named iClosing. iClosing will bring instant and automatic language and visual insights to 2,000 users worldwide, allowing financial controllers to identify crucial business-driving insights without putting in hours analyzing rich and multidimensional data.
By enhancing an already-relied upon Google-powered Business Intelligence platform, Yseop turns the results of L’Oréal internal algorithms into plain text with Natural Language Generation (NLG), allowing financial controllers to save time in producing reporting notes.
Through iClosing, L’Oréal’s financial teams can prioritize and focus on the critical analysis, as opposed to putting the reports together. Yseop’s industry-leading NLG solution automates the writing of financial reports, removing the risk of error in manual writing to ensure accuracy, consistency, and compliance.
“L’Oréal is using Yseop to transform quantitative data sets into high-quality written analysis and visuals, instantly and at scale,” said Emmanuel Walckenaer, CEO of Yseop. “Further showcasing the high quality of our product, Yseop is empowering L’Oréal to focus on more valuable and strategic work by providing insights that drive decision making.”
After successfully deploying Yseop’s solution across L’Oréal’s financial community throughout all divisions, zones, and countries, the two companies are now working together on the close monitoring of the solution at scale and the continuous delivery of new features for more added value to end-users. With Yseop, L‘Oréal is able to leverage financial data and upscale the quality of quantitative analysis while also accelerating the time-to-market availability of key insights to business stakeholders.
This hybrid solution is part of the broader Beauty Tech transformation L’Oréal has started in 2018. Part of the ambition is to augment L’Oréal employees’ capabilities via state-of-the-art technologies, equipment, and tools. With Artificial-Intelligence-powered platforms and hyper-automated work processes, L’Oréal aims to take its people’s speed, efficiency and productivity to whole new levels. This will drive considerable simplification in day-to-day work, allowing L’Oréal employees to focus on their single most valuable contribution to the number one beauty player’s business: creativity!
“The launch of iClosing with the embedded NLG engine from Yseop and the power of Google Cloud technologies marks a turning point for the controlling community. Thanks to a unique combo of new technologies, we are accelerating and modernizing financial data analysis,” said Hélène Doré, L’Oréal’s Global Chief Transformation Officer for Finance & Legal. “Equipped with instant insights and impactful visuals and text, finance teams can jump into the next generation of data analytics.”
Yseop’s platform uses NLG to automate financial and performance report generation. With powerful AI automation technology, organizations across industries can shorten the time spent on financial reports and improve efficiency across the entire global company.
Yseop is an international company specializing in artificial intelligence and is a pioneer in Natural Language Processing (NLP) technology. Yseop’s expertise lies in data analysis, machine learning and language technologies. Its industry-leading Augmented Analyst NLP AI Platform supports enterprise no-code applications for business users. The Augmented Analyst platform analyzes enterprise data and delivers insight and document automation that empowers the workforce, supporting its Augmented Financial Analyst and Augmented Medical Writer applications.
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