intelligent digital workforce · workflow fully automated - no manual intervention, 0 manual effort...
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Intelligent Digital WorkforceFuture of Finance and Accounting Function with Robotic Process Automation
Cost EfficiencyHigh frequency, time consuming, low-value tasks taking up significant capacity of the F&A team
Critical PathDue to typical office hours nature, low-value tasks equally competing for the business hours of the F&A team alongside items in critical path (instead of being handled in low operations hours - evenings and weekends)
ControlDifficult to remain in control as business critical data leaves office premises with outsourcing or offshoring
Value CreationSkilled resources burdened with low-value tasks, preventing them from focusing on business insights and driving value creation for the organization
Key Challenges in Finance & Accounting
Evolution of Finance & Accounting Improving efficiency and productivity of the Finance and Accounting (F&A) function historically meant either offshoring, outsourcing or centralizing the activities involved. Regardless of the approach, low-cost labor and labor-arbitrage played a pivotal role in savings yielded. With economic development around the world, coupled with shortage of skilled labour, this traditional model is under severe pressure. Some of the major challenges faced by the F&A function are an increasing need for minimizing costs to support decreasing margins and providing high-quality value added business insights quickly and frequently.
Augmenting the F&A team with an Intelligent Digital Workforce (IDW) to automate all the rule based and repetitive tasks is fast becoming a differentiator to unlock a new wave of value and efficiency. In this hybrid workforce model, the existing F&A team is freed from all the menial, time consuming tasks and allowed to focus on activities that add business value, as a result of non-value added activities getting automated.
It is estimated that automation of repetitive Finance and Accounting activities in Procure to Pay, Order to Cash and Record to Report can yield between 45% to 75% cost savings to most organizations.
Upfront investment (both costs and time) for adopting automation with an IDW is relatively insignificant, compared to major IT system updates. As a result, in the near future, this hybrid workforce approach will become a standard practice of all high-performing F&A teams.
What is Intelligent Digital Workforce (IDW)?An Intelligent Digital Workforce (IDW) is UXPLORE’s Robotic Process Automation (RPA) solution. RPA enables organizations like yours to optimize the revenue per employee ratio by adding capacity on demand to handle repetitive business processes the exact same way your existing employees do. Our IDW do this much more efficiently by automating your processes accross current products/systems/platforms without having to do any new developments or system integrations. UXPLORE IDW operate on top of the existing IT infrastructure, following existing governance and security policies just like human users of the systems.
When to Use RPA
Higher Revenue per Employee Ratio
No need toReplace or Disrupt Existing Systems
Faster Completion Speedwith 24/7 availability
Highly Scalable & Agile increase or decrease digital workforce on-demand
Compliance through Complete Auditability
100% Accuracy & Consistency
Higher employee retention due to Improved Experience
100% reliable
NO Sick Days NO Downtime
Return On Investment
(ROI) within weeks
Increases service levels due to Consistency& Predictability
What are the Major Advantages of RPA?
There is a high volume of repetitive tasks and/or transactions
The tasks and/or transactions are standard and rule-based
When high-speed, consistency, and accuracy is essential
When scalability in capacity(e.g. seasonal) is required
Data gathering, structuring, and/or processing from multiple systems
RPA Use Cases
Record to Report
Order to Cash
Proc
ure to
Pay
PO Management
Open Order Management
GRN Audit
Master Data Management
Invoice Processing Disbursements
Spend Analysis
Supplier Spend History
Shipment Tracking
Trade Spend Tracking
Work Completion
Status
Freight Tracking
Deductibles Analysis
Quote Generation
Order Review
Billing
Trigger Order
Credit and Collections
Bank Reconciliation
RPA SuccessWorkflow fully automated - no manual intervention, 0 manual effort
except for escalation management
100% accuracy and on-time trade spend analysis and sales insights
generation (overnight), reducing cycle time by 50%
Freed-up bandwidth of Financial Analysts to focus on Level 2 and
Level 3 insights
Case StudyTrade Spend Analysis and Sales Insights
Automated Process OverviewOne of Canada’s leading CPG Distributor, serving all major retailers such as Loblaws, Walmart, Shoppers Drug Mart, etc Need to gather weekly sales data from all the retailers at store level, clean and transform the data to map to product SKUs, consolidate and perform trade spend analysis to be shared with CPG companies / brand ownersA bot automatically logs into various retailer portals weekly and gathers raw sales data, cleans and transforms the data before performing analysis and generating trade spend insights reports to be shared with various CPG companies / brand owners
Log into retailer portal to download RAW sales
data
Bot gathers sales data
per schedule
Automatically clean &
transform RAW data
PerformAnalysis by SKU
Map retailer code to
standard item code for
each row
Bot automatically repeats for all retailers
Apply data validation
rules to accept/reject files and auto
escalate
Auto generate PDF reports
for each CPG company
Distribute weekly Trade
Spend Analysis and Sales Insights
to each CPG company
Aggregate data at item
level
If RAW data is valid,
clean and transform
data
Perform Analysis by
SKU
Map data to item
code / SKU
Repeat for all
retailer
Check for data validity and escalate to
retailer if any issues
GenerateReports per
CPG company /
brand partner
Share Trade Soebd
Analysis with each CPG company
Aggregate sales data
by SKU
Manual Process
Automated Process
“It takes me 2 - 3 days to finish the whole process.”
“Well, give me same day or overnight for that ...”
After implementing RPA...
RPA SuccessPO acknowledgments are processed in near real time as they are received,
improving handling time by 90%+
Same day escalation if needed to promptly resolve any concern
100% accurate and up to date PO status in SAP, including expected ship date
and delivery date
Case StudyPurchase Order Management
Automated Process OverviewCanadian Telco with 200+ suppliers and 1000s of active POs to manage day to day Purchasing coordinators need to ensure all POs are acknowledged and orders are tracked accurately An Intelligent Digital Worker automatically handles incoming vendor emails by processing PO acknowledgements attached as PDFs; all pertinent details such as expected ship date, expected delivery date are extracted and PO status is updated in the SAP system
Manual Process
Automated Process “Well, I can do it in less than an hour...”
Check if any new emails
from any suppliers
Save attached
PDFProcess the PDF
LookupPO In SAP
Update PO status with details from
supplier
Check for any
anomalies
Escalate to Procurement Manager
for follow-up
Log into Email
All received emails are
handled
PDF attachments
are stored automatically
PDF attachments
are processed
Relevant POs are
automatically retrieved in
SAP
PO details and status
updated perionformation
received
PO is audited per pre defined rules post
update
Trigger escalation
if applicable
Bot monitors incoming
emails
“It takes me 8 hours to finish the whole process.”
After implementing RPA...
About UXPLOREUXPLORE is a Robotic Process UXPLORE is a Software Automation Platform for easily creating and managing an Intelligent Digital Workforce (IDW) for automating business processes. Our IDW manages the execution of rule-based, repeatable tasks and processes (just as people would), in a non-intrusive manner. By taking a real user approach, we enable true cross-platform automation securely at scale without the cost and complexities of IT infrastructure integrations and dependencies. We work with various Tier 1 Enterprises and SMBs across functions such as Finance & Accounting, Human Resources, Category/Brand Management, Procurement, Digital Operations, Customer Service, Billing, etc. to help bring efficiencies and significant cost savings to organizations.
For more information about UXPLORE, please visit
uxplore.ca
Jahan [email protected]
647.290.8597
Noel [email protected]
647.388.3776