Challenge

Institutional customers of a leading pharma company were sending cheques to make contribution towards their employee’s funds. A team was doing business validations of the documents (cheques, list bills) to perform good order review. The objective was to improve accuracy, average handling time and reduce operational costs. This required multiple manual interventions for capturing data, validating and posting invoices.

Solution

The data from cheques and different sources needs to be extracted. The different rules that the team is using for validations need to be configured. All the unstructured data from different sources need to be converted into a structured format to be picked by bot and logged into downstream systems. The solution offered automatically extracted trade date, payee, amount, memo line, cheque no. and signature from cheques. It also extracted data from list bill and web batch doc. Robot logged into necessary systems and performed required calculations & validations and posted the invoice for payment.

Results

Time spent on manual checking and feeding into other systems has been saved making the process 85% faster. The client also realized a 35% FTE benefit.