Automation of Bank Enterprise Reconciliation in Power Grid Finance
Streamlining bank reconciliation in power grid finance with RPA and AI Document Processing
Key Solution: Robotic Process Automation (RPA) & AI Document Processing
Challenge
Manual Reconciliation: Personnel must currently export bank account data from the internal finance system and enterprise journal accounts from the SAP system into Excel for manual verification.
Inefficient & Labour Intensive: The process is time-consuming and energy-draining, making it unsustainable for handling large volumes of data and increasing the risk of errors.
Solutions – Automation Workflow
By deploying RPA and AI Document Processing, bank accounts in the internal finance system are automatically verified against enterprise journal accounts in the ERP system. Discrepancies are adjusted and a balance adjustment form is automatically issued—effectively reducing the operational burden at the grassroots level.
Before Implementation:
- Personnel manually export data and verify accounts in Excel.
- Time-consuming process prone to delays and errors.
- High risk of errors and omissions due to manual handling.
- Manual reconciliation leads to inconsistent reporting formats.
After Implementation:
- Manual tasks are replaced by automation, significantly decreasing the workload on financial staff.
- Reconciliation operations are completed much faster, enabling the process to meet the needs of all accounts across units.
- Automatically generated balance adjustment statements improve financial transparency and compliance.
Impact
98% Accuracy
75% Efficiency
Financial Transparency