Our Credentials – Probotiq Solutions

GLOBAL PROFESSIONAL SERVICES

RPA for GST Summary Sheet/Tax Remittance Report preparation for a Global Professional Services Firm

The GST summary sheet preparation is a monthly activity performed manually and used to take two to three days to complete.
The process requires the manual download of the GST data and creation of multiple pivot tables to prepare a summary report.
The amount to be remitted in IGST, SGST and CGST are calculated separately and manually. Base amounts of the GST also need to be calculated using a separate pivot.
The RCM outflows and ITC calculations needs to be adjusted against each head. The entire process is FTE intensive and take time and efforts to complete.
It is also prone to human error while calculating the Tax.

Challenge

Highly Manual activity to download GST reports and prepare the outflow
Prone to errors as there is human involvement in calculating the tax pay outs for IGST, SGST and CGST
Time consuming manual steps for data manipulation and consolidation

Activity consumes 3 Person Days every month
The process follows the regulatory deadline and has to be completed on or before the notified time limit which adds some kind of dependency on resources..

Solutioning

Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ to streamline process steps specific for RPA process.
GST summary sheet preparation report completed within few minutes while the manual work used to take at least two days to complete.
Bot programmed to use its data table function instead of the manually used pivot or excel applications
Bot configured to include GST rates and validation checks built in to calculate accurately GST to be remitted within seconds.
Bot programed to collate all data into excel sheet and saved into dedicated folder for reviewer to check and post in GST portal.
The log data throws up any exceptions which require attention
Built objects in RPA tool covering all relevant process variations and exceptions
Executed user tests to ensure efficiency in the proposed solutioning.

Result

Significant time saving in incentive calculation. Now required only circa 5 minutes compared to 2-3 person days taken earlier.
Improved quality, consistency and reduced risk
No errors
Audit log in each and every step to find out if any steps are inconsistent
Added more capacity with in the division as there exists no resource dependency for this process, once the inputs are ready then its procedural formalities to completed the task.
The effort saving estimated as more than 90% , the processing time has been reduced to ¼ man day from 3 man days.

RPA for Invoice Automation/ Fee Billing for a Global Professional Services Firm

With a number of clients to provide various audit related services, the partners are scheduled with various assignments periodically.
On completion of the assignment each partner has to raise ‘Request for invoicing the client’ to the Head office through an internal workflow tool. The request for invoicing is manually entered by the branch staff into the accounting portal.
The challenge is in verification of the entries one by one to make sure the GST entries are calculated and posted correctly.
This involves time and effort and is a cumbersome task. The activity takes 2-3 days to complete as the firm receives more than 200 invoices every month. Accuracy is also a challenge.
It is also prone to human error while calculating the Tax.

Challenge

Highly Manual upload of the billing file into the accounting software.
SReview of GST entries takes enormous amount of time
Prone to errors as there is human involvement in calculations.

Invoices gets pending as the resources are stuck in other important activities
Managerial staff was executing this process due to its criticality and confidentiality, this often delayed the procedure and timely raising of bills was a challenge which eventually impacts the revenue collection.

Solutioning

Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ to streamline process steps specific for RPA process. Download of data of fee billing data posted by partners in the internal workflow tool, designed as the bulk upload template of the accounting software so as ensure seamless integration between data downloaded and that uploaded into the accounting tool.
Bot used to upload invoices and validate GST entries to make sure it is accurate.
Bot also programmed to update the customer master in case any information is missing to make sure it is correctly captured.
Bot is programmed with validation checks and performs the activity with high accuracy.
Built objects in RPA tool covering all relevant process variations and exceptions
Executed user tests to ensure efficiency in the proposed solutioning.

Result

Significant time saving in invoice automation. Bot takes only 10 minutes to do the entire gamut of activity and saves the PDF invoices in the specified folder the next step of sending it to clients.
Validation activity after automation takes only 15 minutes leaving the employee with productive time to focus on other activities. Earlier the activity took circa 2 person days.
Improved quality, consistency and reduced risk
No errors
Significant reduction in TAT (estimated more than 90%) which helps the managerial resource who spent time on this due to its critical and confidential nature to concentrate more on strategic matters than the transactional activity.

RPA for Invoice Automation/ Expenses Billing for a Global Professional Services Firm

Around 400 employees travels to different locations as part of their project/assignment. Most of the expenses (like travel, boarding and lodging, local conveyance, Visa charges etc.,) incurred during the project/assignment are billable to client. These expenses are reviewed, categorized based on the type of expenses, project/client and validated with the supporting documents and contact documents and billed to customer.
This involves lot of time and effort and is a cumbersome task.

Challenge

Consolidating the expenses incurred by the different office and employees at different locations and intervals for the same project and client.
Collecting the supporting documents and validation with supporting document.
Segregating the expenses as billable to clients based on the contract agreed.

The multiple touch points and complexity associated with this process often delays the whole process which had significant revenue impact also. Majority of the expenses are to be reimbursed by the customer; so the revenue collection is getting slow down.

Solutioning

Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ by redesigning the process flow to get the necessary information easy and more accurate.
Workflow tool was redesigned which consolidates all the expenses incurred for the project /assignment with additional functionality like provision to upload all the supporting documents
Bot was programmed to segregate the expenses as billable/non billable based on the business rule agreed in the contract and generated data in the bulk upload template of accounting software and directly upload to accounting software with necessary validation.
Bot also download all the copies of the supporting document from the workflow tool and store it in a folder
Built objects in RPA tool covering all relevant process variations and exceptions
Executed user tests to ensure efficiency in the proposed solutioning.

Result

Significant time saving in invoice automation. Bot takes only 20 minutes to do the entire activity and saves the PDF invoices and supporting document in the specified folder the next step of sending it to clients.
Validation activity after automation takes only 15 minutes leaving the employee with productive time to focus on other activities. Earlier the activity took circa 2 to 3 person days.
Improved quality, consistency and reduced risk
No errors
The faster TAT eventually helped the firm to get the revenue cycle shortened .
More than 90% reduction in this process help the resource to concentrate on co-ordination and faster revenue collection.

RPA for Accounts Payable process for a Global Professional Services Firm

The posting of cash payments for vendors / service providers of the Client was done through its various branches by admin staff except in case of bank payments which is handled by Head Office accounts department.
This practice required multiple costly licenses of the accounting software in the various branches which was not optimal considering the time of usage at the branches.
Another concern was the lack of four eye principle which was crucial for payments.
The process was highly manual, following a physical approval process of all invoices in hard copies, time consuming and highly manual for accounts team.

Challenge

Highly manual as no inputs are from digital sources, all hardcopies.
Non optimal utilization of costly accounting software license
Prone to errors as lacking four eye principle
Longer payment cycles due to delay in processing of invoices as the resources are stuck in other activities

Manual controls may not be that reliable
High degree of resource dependency which eventually delaying the payment process and vendor dissatisfaction..

Solutioning

Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ process. Where a workflow tool was developed to capture invoice inputs by the admin staff which would go through a two level review and approval process by accounts department, thereby eliminating direct posting and bringing in control.
Download of approved entries designed to be downloaded into a bulk upload template required for the accounting software.
Bot programmed to directly upload downloaded file from workflow tool to accounting software.
Built objects in RPA tool covering all relevant process variations and exceptions
Executed user tests to ensure efficiency in the proposed solutioning.

Result

Significant time saving of accounts department staff to only concentrate on review and approval process.
Reduction in backlog of invoices to be processed.
Cost savings as optimal usage of accounting software license
Risk reduction and audit trail as prepared, reviewer and approver captured for each invoice.
No errors
Since the process is flowing through a fully integrated workflow system assisted by RPA, the inbuilt controls are much more effective and efficient.
This solution offers many flexibility to the system as many other related processes can be integrated with the core application in future.

RPA for Email Forensic Process for a Global Professional Services Firm

One of the largest IT solution service provider’ looking for a solution for their Internal audit team in investigating any serious employee grievances, fraud or violation. For investing this, the team has to browse through large volumes of email correspondences for finding out potential evidences in the particular case. The mining of evidences manually through scores of emails is a daunting task for the audit team.
The current process of searching emails are performed by the audit team using search criteria’s and filters like subject, From address, to address, date, keywords etc. Vital evidences may be lost due to human inattention as the process is time consuming and tedious.

Challenge

Volume of data is high (up to 2 lacs emails)
Prone to missing data if searching criteria not properly used
Tedious and time consuming
Manually intensive

Solutioning

The manual activity of searching thousands of emails using predefined search criterion can be performed by a robot programmed to do the process.
Through RPA technology, the bot will search through the .pst file extensions saved in the folder using outlook interface.
The bot will follow the predefined criterion recorded in the input spreadsheet searching through thousands of emails.
The bot will carry out the activity in high speed and 100% accuracy.
The contents like Subject, sender details, receiver details, date, body etc. of the potential emails will be copied to the output spreadsheet.
The spreadsheet will be send to the audit team for further investigation. Hereby, the entire manual activity of searching the emails will be carried out by a robot

Result

The bot can handle voluminous data
Efficient improved by circa 100%, FTE effort totally reduced.
The robot with cent percent accuracy will search all the emails with the specified search criteria
The human involvement in the activity could be reduced so the resource could be utilized for value adding activities
Improved efficiency and speed

GLOBAL MINING CORPORATION

RPA for automating ICP (Inter Company Partner) Elimination for a leading India based Global mining company

A globally diversified multinational natural resources giant evinced huge interest in automating their central accounting processes to improve efficiency and transform their office to a digital workplace. The consolidation activity which includes inter company transactions and their eliminations was performed hitherto manually. The process was selected for RPA which will result in the end to end automation of the process leaving the employees quality amount of time to focus on preparation of financial reports of the group in an effective manner.
The transactions between different entities of the company are monitored and the outstanding amounts if any are emailed to the entities to be rectified before the stipulated time. The activity which starts from 3rd of every month are now completely handled by the bot.

Challenge

Growing pressure for operational effectiveness, the organization vow to transform their office to a digital workplace with the induction of a bot in their workplace.
Significant human effort spent on repetitive activities.
The workforce is under high pressure at the times of monthly closing for the preparation of financial statements for the group.

The manual activity is prone to errors as it involves preparation of files manually and different formatting using the downloaded files.
Continuous monitoring of the tasks is difficult every day and the entities needs to be followed up everyday for their submission of correct entries
High voluminous and repetitive activity

Solutioning

Identified potential opportunities to implement end to end automation solutions in the central accounting team processes.
Obtained go-ahead from IT team on tool induction and technology adoption after addressing their queries about InfoSec and data security.
Formulated a high-level implementation approach and project plan including project scope, effort estimation, project scheduling.
Designed a solution workflow which will cater to an end to end automation of the ICP elimination process with minimum manual intervention so as to improve the employees efficiency level to more than 95% after the implementation in the process.
A complete automation solution has been implemented that will enable the bot to read emails from the entities and dynamically respond, send reminders and even sending submission status to the group CFO’s
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side
Remote support being provided as per Client requirement (run maintenance)

Result

Significant time saving for repetitive manual tasks.
Efficient improved by circa 100%, FTE effort totally reduced.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume
Highly improved Turn Around Time (TAT).
Improvement in Service Quality and Customer Satisfaction
Significant reduction in error rate
The back end bot will perform the activities 24*7 365 days

RPA for automating TB Upload & Reserve movement Elimination for a leading India based Global mining company

A globally diversified multinational natural resources giant evinced huge interest in automating their central accounting processes to improve efficiency and transform their office to a digital workplace. The TB upload activity checks the entities who have not submitted their Trial balance reports and send reminders asking them to submit in time. The process further checks the Balance sheet of all the entities to see if the figures are correct by using specified rules. If there are errors in the submission, the entities are send emails asking them to rectify before the due date. The activity starts from the 3rd day of every month and continues until all the entities submits and rectifies the mismatches in their submission. The process is crucial as it enables the central accounting team to prepare the financial statements in timely manner

Challenge

Growing pressure for operational effectiveness, the organization vow to transform their office to a digital workplace with the induction of a bot in their workplace.
Significant human effort spent on repetitive activities.
The workforce is under high pressure at the times of monthly closing for the preparation of financial statements for the group.

The manual activity is prone to errors as it involves preparation of files manually and different formatting using the downloaded files.
Continuous monitoring of the tasks is difficult every day and the entities needs to be followed up everyday for their submission of correct entries
High voluminous and repetitive activity

Solutioning

Identified potential opportunities to implement end to end automation solutions in the central accounting team processes.
Obtained go-ahead from IT team on tool induction and technology adoption after addressing their queries about InfoSec and data security.
Formulated a high-level implementation approach and project plan including project scope, effort estimation, project scheduling.
Designed a solution workflow which will cater to an end to end automation of the TB Upload process with minimum manual intervention so as to improve the employees efficiency level to more than 95% after the implementation
The back end bot which will be triggered automatically with scheduling has been designed to ensure minimum manual intervention of humans in the process.
A complete automation solution has been implemented that will check for the TB Submission, emailing to entities, sending reminders, checking for duplicate submissions, Checking for errors in Balance sheet and reviewing the same on a daily basis.
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side
Remote support being provided as per Client requirement (run maintenance)

Result

Significant time saving for repetitive manual tasks.
Efficient improved by circa 100%, FTE effort totally reduced.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume.
Highly improved Turn Around Time (TAT).
Improvement in Service Quality and Customer Satisfaction
Significant reduction in error rate
The back end bot will perform the activities 24*7 365 days

RPA for automating Balance movements process Elimination for a leading India based Global mining company

A globally diversified multinational natural resources giant evinced huge interest in automating their central accounting processes to improve efficiency and transform their office to a digital workplace. The Balance movements process conducts multiple checks on the Trial Balance reports submitted by the entities to ensure the accuracy of the entries. The entities numbering to 100 needs to have their reports checked for mismatches in several reports like reserves. Depreciation etc. The manual checking is highly time consuming and mundane and close monitoring and regular follow ups of erroneous entities are practically impossible. The Bot will check the reports of 100 entities and sends emails asking them to rectify the errors in the reports. Regular follow ups are also performed to ensure the entities adhere to the guidelines.

Challenge

Growing pressure for operational effectiveness, the organization vow to transform their office to a digital workplace with the induction of a bot in their workplace.
Significant human effort spent on repetitive activities.
The workforce is under high pressure at the times of monthly closing for the preparation of financial statements for the group.

The manual activity is prone to errors as it involves preparation of files manually and different formatting using the downloaded files.
The manual activity is prone to errors as it involves preparation of files manually and different formatting using the downloaded files.
High voluminous and repetitive activity

Solutioning

Identified potential opportunities to implement end to end automation solutions in the central accounting team processes.
Obtained go-ahead from IT team on tool induction and technology adoption after addressing their queries about InfoSec and data security.
Formulated a high-level implementation approach and project plan including project scope, effort estimation, project scheduling.
Designed a solution workflow which will cater to an end to end automation of the Balance Movements process with minimum manual intervention so as to improve the employees efficiency level to more than 95% after the implementation
The back end bot which will be triggered automatically with scheduling has been designed to ensure minimum manual intervention of humans in the process.
A complete automation solution has been implemented to check any errors in posting entities for 100 odd entities in the TB reports. Regular checks are performed and entities are emailed to rectify any errors in the reports
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side.
Remote support being provided as per Client requirement (run maintenance)

Result

Significant time saving for repetitive manual tasks.
Efficient improved by circa 100%, FTE effort totally reduced.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume
Highly improved Turn Around Time (TAT).
Improvement in Service Quality and Customer Satisfaction
Significant reduction in error rate
The back end bot will perform the activities 24*7 365 days

RPA for automating Dynamic Variance Analysis Elimination for a leading India based Global mining company

A globally diversified multinational natural resources giant evinced huge interest in automating their central accounting processes to improve efficiency and transform their office to a digital workplace. The Dynamic variance analysis process is a monthly and quarterly activity performed by the corporate accounting team to check the variances in the financial statements of all the group entities. The quarterly process will check for variances or movements in the figures of the Balance sheet and Profit & Loss entries for YTD, Q on Q, Q over Q etc.. The IND AS level accounting entries which contributes more variances across entities are sent to the respective entities asking for the reasons for such variances. The reasons are brought to the Financial statement reports for Board level presentation to the Group CFO.

Challenge

Growing pressure for operational effectiveness, the organization vow to transform their office to a digital workplace with the induction of a bot in their workplace.
Significant human effort spent on repetitive activities.
The workforce is under high pressure at the times of monthly closing for the preparation of financial statements for the group.

The manual activity is prone to errors as it involves preparation of files manually and different formatting using the downloaded files.
Continuous monitoring of the tasks is difficult every day and the entities needs to be followed up everyday for their submission of correct entries
High voluminous and repetitive activity

Solutioning

Identified potential opportunities to implement end to end automation solutions in the central accounting team processes.
Obtained go-ahead from IT team on tool induction and technology adoption after addressing their queries about InfoSec and data security.
Formulated a high-level implementation approach and project plan including project scope, effort estimation, project scheduling.
Designed a solution workflow which will cater to an end to end automation of the ICP elimination process with minimum manual intervention so as to improve the employees efficiency level to more than 95% after the implementation
The back end bot which will be triggered automatically with scheduling has been designed to ensure minimum manual intervention of humans in the process.
A complete automation solution has been implemented that will enable the bot to read emails from the entities and dynamically respond, send reminders and even sending submission status to the group CFO’s
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side
Remote support being provided as per Client requirement (run maintenance)

Result

Significant time saving for repetitive manual tasks.
Efficient improved by circa 100%, FTE effort totally reduced.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume
Highly improved Turn Around Time (TAT).
Significant reduction in error rate
The back end bot will perform the activities 24*7 365 days

RPA for automating deviation on Data submission Elimination for a leading India based Global mining company

A globally diversified multinational natural resources giant evinced huge interest in automating their central accounting processes to improve efficiency and transform their office to a digital workplace. The Data Submission checks for any aberration in the Trial balance data submitted by the entities at the beginning of the month. This is performed by saving the TB data on a daily basis and performing a random checks to identify any variances between two different dates. The manually cumbersome activity is now fully automated using a back end bot which will save the TB reports of the entities on a daily basis and do variance comparisons between the user stipulated dates. The reasons for the variance are then requested from the entities by emailing the statements. The reasons are then collated to a template which will be submitted to the user.

Challenge

The High value activity is time consuming when performed manually
The final reports to be generated should be error free and manual interventions might contribute to errors while handling multiple amount of files
Growing pressure for operational effectiveness

Significant human effort spent on repetitive manual tasks
The time spent on the manual process might increase when there is increase in the number of duplicate records
The manual activity is prone to errors
High voluminous and repetitive activity

Solutioning

Identified potential opportunities to implement end to end automation solutions in the central accounting team processes.
Formulated a high-level implementation approach and project plan including project scope, effort estimation, project scheduling.
Designed a solution workflow which will cater to an end to end automation of the ICP elimination process with minimum manual intervention so as to improve the employees efficiency level to more than 95% after the implementation
The back end bot which will be triggered automatically with scheduling has been designed to ensure minimum manual intervention of humans in the process.
A complete automation solution has been implemented that will enable the bot to read emails from the entities and dynamically respond, send reminders and even sending submission status to the group CFO’s
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side
Remote support being provided as per Client requirement (run maintenance)

Result

Significant time saving for repetitive manual tasks.
Efficient improved by circa 100%, FTE effort totally reduced.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Highly improved Turn Around Time (TAT).
e Quality and Customer Satisfaction
Improvement in Service Quality and Customer Satisfaction
ISignificant reduction in error rate
The back end bot will perform the activities 24*7 365 days

LEADING INDIAN RETAIL CHAIN

RPA for Sales Incentive Calculation of India’s largest Specialist Retail Chain

India’s first large format specialist Consumer Electronics and Durables retail chain was concerned about the accuracy and the number of FTE and time taken to calculate and for payout of sales incentives.
The sales incentive had to calculated based on various parameters and indices specific to type of appliances, store type, region etc. An efficient solution was the requirement as this is a rule based, high volume and repetitive task.

Challenge

Growing pressure for operational effectiveness and efficiency due to the volume and calculation involved in sales data.
Significant human effort spent on voluminous and repetitive task
Integrating catalogue of products from different categories to calculate accurate monthly incentive for employees
Huge dependency on the staff due to the complexity of business rules and calculation steps.

High volume of transactions hampering the accuracy of final output
Many business segmentation and product classification make the process extremely complex and calculation heavy.

Solutioning

We performed an RPA Proof of Concept for the client to demonstrate the business value and technical feasibility of RPA through tangible outputs.
Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ to streamline process steps specific for RPA process. The formatting of excel input sheets which were the input files were carried out to optimize the solutioning.
Built objects in RPA tool covering all relevant process variations and exceptions.
Designed a solution after implementing many standardization and process refinement, the final solution is capable to handle all the complexities of business rules and process calculations.
Designed a dynamic data flow which provide the end-user the flexibility of making changes of the scope (addition / deletion of stores, products etc.), business rules and calculation logic (incentive amount and other schemes)
Executed user tests to ensure efficiency in the proposed solutioning.

Result

Significant time saving in incentive calculation
Improved quality, consistency and reduced risk; improved exception management with audit trail
Improved capability of handling volume peaks without affecting accuracy
Improved Turn Around Time (TAT) to concentrate on more relevant tasks
Significant reduction in error rate in fact the accuracy of calculation is at 100%.
The effort saving is estimated at 80% ( the TAT has brought down by 5/6 times; from 3 days to ½ day)
Eliminated the dependency on resource and the corresponding delays.

RPA for automating Payment Reconciliation Process for leading Indian retail chain

A leading Indian Retail Chain for consumer electronics and durables had expressed its desire to explore Robotics Process Automation (RPA) for its processes as part of digitization journey.
The process is to extract inputs from three sources and reconcile with parameters specified for data matching. Then the matched data will be uploaded into SAP and to post it. The customer has invited to assess Payment Reconciliation Process (Bajaj Finserv) for a pilot implementation. The process involves 6 – 7 days for an FTE to complete the process manually.

Challenge

The process was conducted manually was prone to multiple errors
The inputs received were high voluminous and the activity performed was repetitive in nature
Employee exhaustion was arising due to mundane nature of work
The inputs were consistently prone to missing data

Payment related reconciliation needed more attention as this was a very critical activity and any error arising out of the same will impact the financials adversely.
The activities were tedious and time consuming
Manually intensive process lacking a proper structure

Solutioning

Team conducted the process diagnostics and gave the client consultation on standardization
RPA Pilot implementation was performed for the client and demonstrated the feasibility of RPA.
Designed the ‘Solution’ to streamline process steps specific for RPA process and to minimize the time taken to complete the entire process
Effectively handled the exception to avoid the interruption
The reconciliation process developed efficiently where each and every steps are logically built rather than the steps followed traditionally
Various user tests conducted to ensure the flawless bot performance
Developed a dynamic work flow which will provide the end-user the flexibility of making changes.

Result

The original time taken for this entire process was 6 – 7 days. With the implementation of the RPA solution, the time drastically reduced to less than 10 mins.
Here the user has to just activate the bot and the rest of the activities will be processes automatically.
100% accuracy and consistency of the output was achieved. As a result, all the manual errors that were subjected to previously has been eradicated.
Reduced risk as the bot performs only programmed activity
Improved capability of handling higher volumes
Highly improved Turn Around Time (TAT).
The bot was utilized for only 10% of the time and could be further utilized for other repetitive tasks.

SHARED SERVICE CENTER OF A GLOBAL INVESTMENT BANK

RPA PoC for NAV calculation process in a Shared service center of a Global Investment Bank

An investment banking client carries out daily activity of calculating NAV values for the assets managed.
NAV calculation is a crucial activity prone to human errors which will severely affect the reputation of the company.
The manual process consists of preparing multiple excel files and reconciling the fund file with a dump file downloaded from an application. The reconciliation activity results in the preparation of a final output file. There are around 220 such files to be prepared for all the funds managed.
This task is time consuming, monotonous, repetitive in nature and there are chances of oversight.

Challenge

Currently four employees are spending four man hours a day to complete the reconciliation activity hence Significant human effort spent on voluminous and repetitive task
Significant effort in finding the replacement for the existing staffs, lots of resource and energy is being spent on recruitment and training of new staff and their maintenance.

Majority of time of FTE dedicated for a mundane and non value add task
Increased need for operational efficiency
Difficulty during the peak hours where resources are required to be dedicated fort other important activities

Solutioning

We performed an RPA Proof of Concept for the client to demonstrate the business value and technical feasibility of RPA through tangible outputs.
Conducted a feasibility assessment for the process and developed a business case
Designed a ‘to be process’ to streamline process steps specific for RPA process and to minimize the time taken to complete the entire process of NAV calculation
Built objects in RPA tool covering all relevant process variations and exceptions
Executed user tests to ensure efficiency in the proposed solutioning.
Designed a solution to download the necessary input files required for the calculation of the NAV and delivering the output file necessary for further processing

Result

The time taken for the entire process is now reduced to 1.2 hours from the earlier 4 hours taken manually. All the 220 files could be completed within the 1.2 hours time frame.
Significant time saving for repetitive manual tasks. Efficient improved by circa 95%
Improved quality, consistency and reduced risk; improved exception management with audit trail
Improved capability of handling volume
Improved Turn Around Time (TAT). Resource now allocated on more relevant tasks
Significant reduction in error rate
The employees could be reallocated to value adding and other important tasks

Global Investment banking BPO

RPA for Mutual Fund Statement download & formatting for an Investment Banking BPO

An investment banking client performs Mutual Fund (MF) reconciliation activity that requires to download and format the bank statements on a daily basis.
Client is responsible for the reconciliation of the MF accounts on a daily basis on behalf of the fund administrator who holds 16 bank accounts with more than 1800 accounts in it.
Statements are downloaded from the Bank websites manually by 4 FTEs.
This task is time consuming, monotonous, repetitive in nature and there are chances of oversight.

Challenge

Growing pressure for operational effectiveness
Significant human effort spent on repetitive manual tasks
Prone to errors as manual downloading results in download of wrong statements, wrong input of date, Missing a statement from downloading
The statement formatting as per client specified format creates challenge of diversity in task for the same process

Majority of time of FTE dedicated for a mundane and non value add task
Significant effort in finding the replacement for the existing staffs, lots of resource and energy is being spent on recruitment and training of new staff and their maintenance.

Solutioning

An RPA Pilot specific for the bank statement download and statement formatting process was performed to demonstrate the business value and technical feasibility of RPA through tangible outputs
Feasibility assessment for process and developed a business case
Designed a ‘to be process’ to streamline process steps specific for RPA process and to minimise timeline for downloads which are scheduled before office hours to ensure availability of reports before the resource starts a day’s work.
Built objects in RPA tool covering all relevant process variations and exceptions
A generic solution had been designed for implementation which would cater the process requirement of teams who deals with different customers without compromising their operation independence and data security concerns.
Executed developer and user access tests to ensure smooth execution of processes
Transitioned workflow related detailed documentation and diagnostics to ensure seamless maintenance at Client side

Result

Significant time saving for repetitive manual tasks. Efficient improved by circa 95%
Improved quality, consistency and reduced risk; improved exception management with audit trail
Improved capability of handling volume
Improved Turn Around Time (TAT). Resource now allocated on more relevant tasks
Improvement in Service Quality and Customer Satisfaction
Significant reduction in error rate
Expanded the service window to 18 hours from normal 9 hours as the BOTs are scheduled to run during out of office hours ( 12:30 AM to 09:30 AM).
Added additional capacity of 4 PDs (32 hours) in the system by performing the task on out of office hours. The effort saving estimated for this process is 2000 minute per day.

RPA for Automation mutual fund reconciliation process

A BPO client is servicing the mutual fund reconciliation activity of a custodian. The custodian has outsourced the collective investment reconciliation activities of its asset management companies (AMC’s) to our client. The reconciliation process is highly manual, repetitive and are prone to errors.
There are 40 processes with circa 130 sub processes across 18 AMC’s. The BPO client is concerned with the operational efficiency as well as the impact of human errors in the process which could affect its reputation due to immense competition in the BPO industry.

Challenge

Highly manual processes with tight deadlines for turnarounds
Prone to manual errors
Growing pressure for operational effectiveness
Significant human effort spent on repetitive manual tasks

Majority of time of FTE dedicated for a mundane and non value add task
Significant effort in finding the replacement for the existing staffs, lots of resource and energy is being spent on recruitment and training of new staff and their maintenance.

Solutioning

Feasibility assessment for all the processes was performed and developed a business case
Designed a ‘to be process’ to consolidate activities having similar steps
RPA solutioning designed to maximize code re usage for activities which are similar but having varied inputs
A generic solution had been designed for implementation which would cater the process requirement of teams who deals with different customers without compromising their operation independence and data security concerns.
Provided a feasibility report with the percentage of automatability, clubbing of similar processes and effective utilization of resources.

Result

Prepared a robust roadmap for the implementation of RPA solution
Streamlined the process steps to remove inefficiencies
Calculated the probable time, effort and cost savings which could result in a huge impact in the organization.
Created additional capacity whereby new customers can be serviced

LEADING ONLINE FINANCIAL MARKET PLACE

RPA for automating Revenue Recognition and invoicing process for a leading Indian online marketplace

A online marketplace that gives consumers access to customized rate quotes on loans, credit cards or personal finance products such as insurance policies, bank loans and credit card offers, identified one process for RPA Pilot Implementation – Revenue Recognition and Invoicing Process.
Revenue Recognition process is an invoicing activity performed every month on the second work day to calculate the revenue generated for the previous month. The process is performed to generate invoices which needs to be sent to partner organizations to record receipts.
The input files are spreadsheets retrieved from the internal database tool and received through email attachments. Sales data for partners are segregated product wise and applicable commission is calculated for invoicing. SAP is used to generate invoice.

Challenge

Significant human effort spent on repetitive manual tasks
The time spent on the manual process might increase the possibility of error or wrong output
Lack of efficiency while performing the process manually

Solutioning

RPA Proof of Concept was performed for the client to demonstrate the business value and technical feasibility of RPA through tangible outputs
Designed a ‘to be process’ to streamline process steps specific for RPA process and to minimize the time taken to complete the entire process
Integrating the process with digital signature and thereby bot will process the approved files for further steps
Executed user tests to ensure efficiency in the proposed solutioning.
Identifying the various types of exceptions and efficiently handled to execute the process without any interruption

Result

Significant time saving for repetitive manual tasks to complete the entire process for approx. 500 records.
FTE effort significantly reduced to the activation of bot and high-level review of the output.
100% accuracy and consistency
Reduced risk as the bot performs only programmed activity
Improved capability of handling volume
Highly improved Turn Around Time (TAT)
The bot could be utilized for other repetitive tasks identified

LEADING PETROCHEMICAL COMPANY BASED OUT OF UAE

RPA PoC for Invoice downloading and posting into SAP for a middle east based petroleum company

A petroleum company in the middle east was facing issues in the invoice processing due to high volumes and high manual intervention required to carry out the process.
The company has multiple group offices across the country the invoice processing is a centralized process performed in the head office. The invoices can be downloaded directly from the vendor website. The invoice details are posted into the SAP by entering the required details like Tax code, cost center etc.
The activity is manual and time consuming and the employees are required to be allocated for other important month end closing activities.

Challenge

Growing pressure for operational effectiveness as this is a month end activity interfering with month end closing.
Significant human effort spent on repetitive manual tasks
Prone to errors as manual downloading may result in missing out an invoice.

Majority of time of FTE dedicated for a mundane and non value add task
High volume involved as the account department has to process invoices for all the group companies

Solutioning

RPA Proof of Concept was performed for the client to demonstrate the business value and technical feasibility of RPA through tangible outputs.
Designed a ‘to be process’ to streamline process steps specific for RPA process and to minimize the time taken to complete the entire process of invoice download and posting into SAP
Built objects in RPA tool covering all relevant process variations and exceptions
Designed a solution to download the invoices from the vendor portal and post the details into the SAP
A summary of the service accounts of the entity which contains entries of the number of invoices are reconciled with the individual invoices downloaded.
A control sheet is prepared which contains data regarding invoices downloaded, its invoice number, service account number, invoice amount, Tax details, status of download, status of posting and SAP posting reference number.

Result

Significant time saving for repetitive manual tasks. Resource to spent only 1/10th of their time to review exceptions and logs created by the bot.
Efficient improved by circa 80%
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume
Improved Turn Around Time (TAT). Resource now allocated on more relevant tasks
The employees could be reallocated to value adding and other important tasks during the month end closing time
The bot could be utilized for other repetitive tasks identified during the rest of the period

MIDDLE EAST BASED LEADING INSURANCE BROKER

RPA PoC for automating Reconciliation of Operational billing data of a elite Insurance Brokerage firm based in Middle East

An elite insurance brokerage company for general insurance in the middle east performs reconciliation activity whereby motor insurance policies sold by the company is matched against the policies sold file downloaded from the Insurer’s website.
The highly manual activity involves logging into the insurance company website and downloading the premium register file and formatting it to be uploaded to the internal portal of the organization. Duplicate entries appearing in the portal are again changed and uploaded back.
4 reports are then downloaded and analyzed for matching data as well as unmatched data.
The process takes 60 minutes for an FTE to analyse 300 entries. The activity is highly manual and repetitive.

Challenge

Growing pressure for operational effectiveness .
Significant human effort spent on repetitive manual tasks
The time spent on the manual process might increase when there is increase in the number of duplicate records
The manual activity is prone to errors
High voluminous and repetitive activity

Solutioning

RPA Proof of Concept was performed for the client to demonstrate the business value and technical feasibility of RPA through tangible outputs.
Designed a ‘to be process’ to streamline process steps specific for RPA process and to minimize the time taken to complete the entire process of formatting the premium register file and uploading it to the portal
Built objects in RPA tool covering certain relevant process variations and exceptions
Designed a solution for formatting all records in the premium register (1500-2000 records), upload into the portal, changing the duplicate entries, downloading the final reports and saving in the specified folder.
Bot updates the dashboard with the count of records uploaded to the portal, number of duplicates found and the count of new entries.
The log data for each step is provided to the user for audit purpose

Result

Significant time saving for repetitive manual tasks. Manual activity takes 60 mins to complete 300 records. Bot takes only 8 mins to complete the entire process for 1500-2000 records.
Efficient improved by circa 100%, FTE effort totally reduced, only need to activate the bot.
100% accuracy and consistency.
Reduced risk as the bot performs only programmed activity and creates audit trail
Improved capability of handling volume
Highly improved Turn Around Time (TAT).
The bot could be utilized for other repetitive tasks identified during the rest of the period

IT SERVICES AND CONSULTING COMPANY BASED OUT OF USA