Financial Flow Processing
Revolutionising finance workflows with RPA automation
Key Solution: Robotic Process Automation (RPA)
Challenge
Finance personnel face several bottlenecks in monthly bank statement and receipt reconciliation processes:
1.High manual workload: Downloading bank statements and receipts from multiple accounts and banks is repetitive and time-intensive.
2.Large-scale data complexity: Different banks provide inconsistent data formats, requiring manual sorting and reconciliation.
3.Inefficient resource management: Managing numerous Ukeys/network shields adds operational overhead.
4.Time delays: Manual downloads occur monthly, delaying access to actionable data.
Solutions – Automation Workflow:
Before Implementation:
- Monthly manual downloads.
- Time-consuming reconciliation.
- Heavy reliance on manual processes for data organisation and reporting.
After Implementation:
- Automated daily downloads from 1:00 AM to 9:00 AM, saving manual download time.
- Replaced manual tasks, saving 23.7 man-days monthly.
- Daily downloads enable “clearing the day and ending the month.”
Impact
100% Accuracy
USD 21.2K Estimated Annual Savings
1,012 cases Average Daily Processing
98% Success Rate*
*Success rate accounts for occasional force majeure issues, such as failure to access the online banking system, pop-up of unexpected system announcements, and failure to discover the Ukey certificate expiration. Operation and maintenance personnel can manually trigger the task after receiving the failure notification.