Financial Services

The client wanted to automate two existing process within their financial reporting department by leveraging new RPA technology.

Account Payable Invoice Process

This project began with a review of the processes in terms of suitability for automation followed by a demonstrative POC. The client is using this project to develop in-house expertise related to RPA in order to apply to other processes to streamline various activities.
Following the POC, two processes have been selected for the RPA pilot include:

Report Comparison

Comparing annual and semi-annual financial report PDFs between the current version and the historical version, then generating a summary report if there are any discrepancies.

Report Translation

Translating annual financial PDF report from English to French.

Issues

  • The average time it took to compare each fund was 1 day
  • Reading low quality/accuracy PDFs
  • Significant growth in the number of funds being managed created a constraint on the existing team sizes
  • Incorrect values would result in losses and penalties to the company after audits
  • The chance of human error increases while the workload increases, and the team size stays constant
  • The translated French report needs to have the same layout and format as the original English PDF

Actions

Report Comparison

A custom coded utility is being used to read low quality/accuracy PDFs.

Report Translation

The solution approach utilizes RPA technology in conjunction with Abby FlexiCapture and Google Neural Machine Translation engine to fully translate the content of PDF documents while preserving formatting.

Results

  • ROI of 300% for Report comparison
  • ROI of 74% for Report translation
  • The bot library allows for an organized input and output process, allowing for all teams to know exactly where their data is placed
  • A customizable configuration allows for the end-user to filter comparison and exception data when needed
  • The average 1-day comparison time was shortened to less than 1 hour
  • A smart email notification system allows for all users to recognize when the bot has completed its process

Client Success Stories

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