RPA: Automation of Bank Reconciliation
Client – FMCG Company in UAE
The Process
The process entails reconciling 70+ bank accounts in 6 banks with the Ledger book (MS Dynamics ERP).
The Challenge
- The process was time-consuming and repetitive.
- The process needed to be performed daily to check for any discrepancies and to detect fraudulent transactions.
- Errors at any stage of the process would require the entire reconciliation to be reworked.
The Solution
- The process was automated end-to-end leveraging the RPA tool.
- The bot downloads and reconciles 70+ bank accounts.
- A detailed report of discrepancies will be sent to SME for further action.
The Benefits
- 95% effort automated and Quality improvement to 100% accuracy
- Higher standardization of the process
- Deployment of 2 FTE to value-added tasks.
- Improved SLAs on report submission as processing time is reduced by 80%.
Technology Stacks
Automation Anywhere v11.5
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