Robotic Process Automation for Invoice Processing

Robotic Process Automation for Invoice Processing – Case Study

Business Case:

Efficient Invoice Processing system is the need of an hour and RPA is helping organizations in this front, in order to minimize the process time of invoicing, reduce operational expenses and eliminate human errors.

In this business case, RPA is used by the organization to ensure the timely payment from vendors. This is a fortnight process, to generate and download the vendor-wise invoices, send those invoices with authorized signatures to the respective vendors.

 

Problem Statement:

Since the entire process was manual, the team of 8-10 FTEs were fully engaged in order to process approximately 8000 invoices.

 

RPA Deployment:

1. Invoices are downloaded from the in-house software.
2. Bot selects vendor invoices based on register master and segregates them into a folder with a vendor name, then populates summary excel sheet for each vendor.
3. Bot zips the entire folder (containing invoices and summary report) for each vendor and checks whether the size of ZIP is more than 9 MB.
4. If the size is more than 9 MB, then bot splits the ZIP file into two parts in order to attach efficiently into the email.
5. Then bot finds relevant email ids from the master excel and emails the ZIP file to the respective vendor.

 

Result:

1. A single bot performs the task which earlier engaged the team of 8 people.
2. The entire invoicing process was completed in one day, which earlier used to take 10 days.
3. Achieved efficient invoice processing and reduced payment cycle duration.

 

 

Learn more about RPA:

• RPA in Action – Downloading Files & Data Massaging
• Robotic Process Automation in Action – PDF Extraction & OCR Capabilities
• RPA for Asset Management Institutions – Case Study
• Robotic Process Automation for Retail Organizations – Business Case
• RPA for Mutual Fund Organizations
• RPA for Media Organizations – Case Study

 

Get in touch: info@greysoft.co

 

About Greysoft: Greysoft is an emerging global software technology company. We help Fortune 500 companies to reach their potential through ‘tailor-made technology solutions. We have been working hand-in-hand with the Global Banking & Financial Institutions for 16 years, to solve their tech challenges and help them conquer the larger quest of “Digital Transformation”.