RPA – A Finance Case Study
The bot is unattended and at a prescribed time, downloads all the invoices and statements from a vendor portal, checks the invoices against the statement, and produces a reconciliation of the two. In addition, Torch added a new correlation report which identifies any anomalies between a delivery report and the Vendor Invoice. The bot sends all the deliverables; reports, and downloaded invoices to the financial controller via email for record keeping and upload into the ERP system.
We are talking thousands of line items, amounting to millions of Rands, processed accurately within 2 minutes.
But what does the human now do with those spare 2 hours a week/month? Well in the past there was no variance reporting, so the process of building the bot actually improved the process. The human can now spend those 2 hours investigating the variances and raise a dispute with the vendor to recover potential credits, which is more valuable to the organisation than transposing numbers onto a spreadsheet don’t you think?