This case study illustrates how EBEX has brainstormed and put a robotic process automation bot for complete automation of accounts payable process thus increasing productivity multifold and reducing error to negligible.
A leading business conglomerate having diverse business presence across Media, Entertainment, Packaging, Infrastructure, Education and many other industries, with worldwide operations (geographically diverse) and a workforce of over 10000 employees with the strength growing day by day.
In the existing AP setup, although workflow is implemented, operations at each stage are manual and the system becomes prone to errors on account of monotonous and repetitive manual nature of job. It not only affects output, performance but also client satisfaction and accuracy/SLA commitments in the events of peak load days. As the processes were manual and involved a lot of paper being circulated around the business for approval. Invoices would often go “missing”.
To transform existing AP process by right mix of technology intervention delivering a process operating with minimal human intervention and at the same time, which remains high on accuracy and efficiency.
EBEX designed and implemented a complete end – to – end system to process and approve invoices via a customised workflow. The approval process allowed approvals of invoices as per the clients defined limits and matrixes. With a manual system it was not possible to track if all the invoices are correctly approved or if some bypass the approval process for some reason. With the new system its easy to track and check every invoice as it flows through the approval process Thus improving controls over expenditure A new solution is designed with the right mix of human and machine, complementing each other. The manual processing is Automated with humans providing the right inputs, handling the exceptions and making machines learn to process same for future handling. OCR captures and digitizes text. The data gets auto-populated in the forms and flags the missing or unreadable information as exceptions and routes tasks to the right people. Each manual intervention improves the completeness. Validated invoice is sent to Accounts Payable for further processing. Here finally RPA further posts the information in the accounting system.
The business at EBEX grew exponentially over the time in last 4 years of its existence. A lot of new clients are added. New laws and statutory requirements were introduced by the government. Clients expectations and demands as their business requirement also increase. All this resulted in :-
These challenges were overcome with proper strategy, planning & execution of end to end solution
Apart from bringing 60-70% efficiency, there have been both tangible and intangible benefits of deploying BOTs. Few are :-