Accounts Payable
THE CHALLENGE
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.
RPA SOLUTION
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.
VALUE ACHIEVED
- Above all, the time saved that was previously spent on manual work
is in the range of 65%-75%
Posting of Invoices
THE CHALLENGE
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.
RPA SOLUTION
The RPA robot was built 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.
VALUE ACHIEVED
- 60% reduction in overall workload
- More than 90% success rate of invoice data extraction
Invoice Processing
THE CHALLENGE
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.
RPA SOLUTION
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.
VALUE ACHIEVED
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 Processing
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 also process the accurate data automatically and at a much faster pace from both internal and external sites. It helps in freeing up about 30 percent of the capacity and it can also ensure accuracy and delivering the work in a timely manner. RPA can be used for this to mitigate risks and also allow more new customers to come, with faster response times.
THE CHALLENGE
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.
RPA SOLUTION
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 and uploads them into the head office web application without manual intervention. This automation allows the product control team to focus on other critical activities.
VALUE ACHIEVED
- 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
