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:
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.
Translating annual financial PDF report from English to French.
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
A custom coded utility is being used to read low quality/accuracy PDFs.
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.
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
A Health Sciences Corporation
A Health Sciences Corporation that oversees several hospitals in Southern Ontario realized the importance of rising issues and complexity of post-go-live turbulences having a significant impact on their day-to-day operations.