RPA Streamlines Accounts Payable Process with 75% Efficiency & $75,000 in Annual Savings
Expertise Delivered
Industry
Our client,
Maruti Techlabs’ client is a premier CX management company providing end-to-end Customer Lifecycle Management services along with Business Process Services such as HRO, FAO, Analytics, and Business Process Audit services across verticals such as Banking, Financial Services, Insurance, Telecom & Media, Manufacturing, Retail, and Government.
The client serves over 100 marquee clients, with a 25000+ strong workforce from 30+ delivery locations.
Challenge
Efficiency in Accounts Payable is paramount to minimizing errors around invoicing and reducing operational expenses. The client’s AP team receives thousands of invoices every month from different suppliers and vendors, with each invoice having a unique format of its own.
A team of 7 FTEs was fully involved in manually processing all 4000+ invoices monthly. Each employee would spend close to 3 minutes going through each invoice in a PDF format and extracting the following data -
- Supplier/Vendor Name
- Invoice Date
- Due Date
- GST Number
- TAX Number
- Invoice Amount
- Billing Address
- Description
The job of extracting data from each invoice individually and entering it into an invoice processing application like Quickbooks is repetitive. The formats' uniqueness makes the template-based automation or “if-then-else” approach not only tricky but expensive to program. Introducing AI solutions would not prove to be cost-effective either.
Solution
Maruti Techlabs’ automation experts ideated an RPA solution to automate the entire invoice validation process to address this challenge. Right from scanning and extracting invoice data, populating a master CSV, updating invoice details in Quickbooks, processing payments, and finally updating the master sheet with a success/failure message.
The solution was implemented in 7 weeks.
Let automation take care of your repetitive back-office tasks. Boost productivity & accuracy with RPA.
"The highly successful RPA pilot showed us that there’s much opportunity to rethink and assess end to end processes, which we can automate and streamline, for better business outcomes.”
- Chief Finance Officer
Technology Stack
Result
reduction in errors
productivity gain
man-days saved annually
to automate AP process
in annual savings
Our Development Process
We follow Agile, Lean, & DevOps best practices to create a superior prototype that brings your users’ ideas to fruition through collaboration & rapid execution. Our top priority is quick reaction time & accessibility.
We really want to be your extended team, so apart from the regular meetings, you can be sure that each of our team members is one phone call, email, or message away.
