Business Context
A leading Public Sector Bank needed to Automate their Invoice processing through Robotic Process Automation (RPA) to reduce the time and mundane work for making bill payment to their Network Service providers like Airtel, BSNL and MTNL. This would help them for early processing the bills and payment can be made with the stipulated time besides utilising the employees currently doing manually, for other productive activities. Its always believed and is also a reality that “Automation of Bulk and Repetative tasks yields good Return on Investment (ROI)”
Challenges in Manual Processing of Invoices
The Major challengeare :: Around 14000 Invoices are received by way of Hard Copy / Soft Copy in PDF format. These are manually read and data in 15-20 fields entered into XL sheets. The Data entered in Excel is checked with their Master data maintained separately in another Excel sheet for comparison with contracted prices. Because of the large volume of work, there are errors in data entries, requiring corrections, after checking. Invoices are segregated Service Provider wise to send the data for payment. Delay in payment due to manual paper work and possible errors.
Our Solution
We built a Bot (Virtual Robot) to perform the following Activities end to end seamlessly Step 1: Getting all the Invoices in Soft Copy from Network Service Providers Overall within the stipulated time, about 14000. Step 2: Read those invoices through BOT and scrape the 15-20 required fields and save the same an excel file Step 3: Compare the Data from Saved Excel File with data Prices and other contractual data from another source file. Step 4: Seggregate the Matched and Unmatched records separately and send both the files to the designated Officials of the Bank for making payment. Step 5: By using the Matched Records the Bank makes the payment of Invoices to respective Service Providers. Step 6: Unmatched Records, Bank will analyse the reasons and take remedial measures with Network Service Provider.
Benefits from our Solution
From Automation of Invoice Processing through UiPath RPA tool, the Bank has derived the following key benefits. Time saving Before Automation – 10 working days – 2 resources – 20 Man days were needed to process 14000 invoices. After Automation – 45 minutues, thus saving nearly one full man month of manual work. Better resource utilization – The resources used for this time consuming process are now used for other tasks that yield greater economic value. No Human errors – Near 100% accuracy Solution applicable across multiple domains