With a proven record developing and supporting RPA Applications, CampTek Software has built successful RPA Solutions in almost every industry. Here are some of the top use cases we have found.
Introducing our Financial Services Use Case Series!
In this series we will outline a variety of industry-specific solutions to help you visualize how such a solution might be implemented that may otherwise seem abstract or unattainable.
A manufacturing company operates in SAP and found that processing supplier invoices through the system required a large number of manual interventions, in terms of reading, validating, registering, and posting invoices. Automation was first implemented in one of the accounts payable (AP) teams, which processes approximately 2,000 supplier invoices every day.
Through successful automation, the manufacturer managed to almost completely eliminate human intervention in the AP process. Moreover, the robot logs into the necessary systems, reads the invoice image, registers the invoice in SAP, performs all the necessary validation, including cross-checking against other systems, and ultimately decides whether to post, park or block the invoice.
- Above all, the time saved that was previously spent on manual work is in the range of 65%-75%
The company’s accounts payable team handled tens of thousands of invoices received by email manually, posting them to their enterprise resource planning (ERP) system monthly. As the company deals with more than 2,000 vendors and each has their own invoice template, the process requires analysts with experience to read and post the invoices.
CampTek built the RPA bot to populate the fields with the extraction data in the companies ERP system. However, it also handles the business logic such as sending follow-up emails and archiving invoices.
- 60% reduction in overall workload
- More than 90% success rate of invoice data extraction
CampTek Software recently worked with a Basware client that was manually processing their invoices. Firstly, due to a lack of integration between the system that produces the invoice and the Basware system, where it’s ultimately stored, the process was tedious and frequently invoices were processed with errors. Secondly, invoice processing is crucial to their operation. Moreover, it’s very problematic when the invoice data is captured inaccurately and inefficiently. As part of their supply chain process, a Full-Time Employee (FTE) had to manually pull purchase orders from Basware and then log into another disparate Office Depot system to search the order delivery status and then return updates back into Basware.
CampTek Software worked with the Basware client to analyze and develop RPA workflows to address the company’s process inefficiencies and pain points. Above all, the RPA production solution was able to process the goods procurement workflow in 25 seconds versus the 5 minutes it took an FTE.
The automated production solution ultimately saved an average of 4 hours per week or a total time of 52 hours over the 13 week period and reduced the number of errors. It also afforded the FTEs more time to focus on higher-value activities.
Underwriting is the process that comprises a collection of information from numerous sources for assessing risks that are associated with the given policy. It is a very prolonged process and takes about 3 to 4 weeks on average in the life insurance niche. RPA can gather and process the accurate data automatically, at a much faster pace, from both internal and external sites. It helps in freeing up about 30 percent of the capacity. It can also ensure accuracy and delivering the work in a timely manner. RPA can be used for this to mitigate risks. Also it can allow more new customers to come, with faster response times.
The company’s product control team struggled with manually creating 18 individual daily profit and loss (P&L) reports by reformatting general ledger (GL) data. Each day, the product control team imported GL batch and web intelligence reports into an access database or Excel files to manipulate and reformat the data into specific P&L reports. They then emailed them to the front office for review and uploaded them into the head office’s web application.
Each workday at 9 a.m., the Robot automatically populates the report data and runs respective macros as part of the validation and data transformation process. Moreover. the Robot emails these reports to the front office for review. It then uploads them into the head office web application without manual intervention. This automation allows the product control team to focus on other critical activities.
- Implementation within 3 weeks
- 100% accuracy rate in report generation
- Average handling time reduced from 60 minutes to 20 minutes
- 150 hours per year of expected productivity savings
The company’s existing new hire process was costly and involved high-volume manual work that was prone to human error. It took employees 30 minutes to complete each task with very low accuracy rates caused by copying and pasting data.
Using both attended and unattended Robots. They can monitor the process duration and exception types, improving data input, resource allocation, and error handling. The solution is expandable in cases of peak times or mass hiring.
- Process duration dropped to 3 to 4 minutes per employee
- 100% automation achieved
- 10 times faster processing
- 100% accuracy rate
- 100% scalable during peak times