RPA: Automation of Bank Reconciliation
Client – FMCG Company in UAE
The Process
The process entails reconciling of 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 actions.
The Benefits
- 95% effort automated and Quality improvement to 100% accuracy.
- Higher standardization of process
- Re Deployment of 2 FTE to value added tasks. 4.Improved SLAs on report submission as Processing time is reduced by 80%.
Automation platform
Automation Anywhere v11.5
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