RPA - Finance Process Automation

SITUATION 

Our client, a large state-governed pension fund wanted to automate their reconciliation of expense accounts, their existing process was too manual and time-consuming. An automated solution would enable the organization to streamline their processes, increase employee productivity, and ultimately deliver more satisfying customer experiences. Before launching an enterprise-wide automation, the client wanted to pilot the concept to evaluate the effectiveness.  

We developed a nine-week pilot program to automate the process in the Finance department as a proof-of-concept prior to enterprise-wide adoption. As part of the pilot program, we provided:  

• A Bot, which will add expense details of the accounts to reconciliation template 
• Automated email notification to Process Owner/Financial Accountant upon completion of process  
• Automated notification sent to Process Owner/RPA Support team upon robot encountering any system error(s)  
• Standardization of RPA best practices, methodologies, frameworks and approaches, which was informed by an RPA Discovery Workshop  
• Robotic Process Automation (RPA) “playbook” for enterprise-wide adoption  
• On-site user-training for end-users and stakeholders  

RESULT 

Through close collaboration with the stakeholders and diligent RPA development, we were able to streamline the automated banking reconciliation process from taking five hours to less than five minutes. Creating this efficiency saved our client significant time and money, as well as ensured a higher level of accuracy. This solution was completed and successfully implemented on time and to the client’s satisfaction. Upon completing and implementation, Apex conducted an on-site training and developed an RPA playbook for the client to not only fully utilize the enhancement, but also to further expand the feature in the future. 

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