BFSI, Manufacturing, IT & Software
How a company streamlined purchase order processing using Cognitive Process Automation
AT A GLANCE
secs.
AT A GLANCE
Elimination of
errors
AT A GLANCE
Reduction of manual effort
AT A GLANCE
Annual cost
saving of
approximately
INR 38,25,405/
($50,000)
Background
Challenges
The teams received upto 300 invoices daily from multiple sources that needed to be processed by employees in a timely manner. The employees had to manually update data on the ERP Portal, ensure accuracy, approve the PO and send it to the finance team for clearance.
This often resulted in:
Delays in procurement
Poor vendor relationships
Extra costs
Goals & Objectives
1
Reduce manual effort
2
Completely eliminate human errors
3
Establish high productivity while minimising processing time
PO processing was a critical process involving decision-making and financial calculation and as a result, very time-consuming and inefficient when performed manually.
PO processing was a critical process involving decision-making and financial calculation and as a result, very time-consuming and inefficient when performed manually.
Solution
Our team of experts designed an RPA solution with the TO-BE process.
Cognitive Process Automation was used along with RPA for extracting data from the scanned and digital purchase orders.
They recalibrated/trained IQ bots to process unstructured data into the structured form and deployed an unattended BOT to:
Log into the ERP portal and process each PO individually
Train the IQ-Bot for multiple types of PO and produce a structured output for further processing
Extract data from the PO and cross-check it with data available on the ERP Portal
Verify data, approve PO and send it to the assigner for clearance
Reject in case of a mismatch and notify the assigner to manually verify and reuploadv
Our experts designed the system with mathematical calculations as per client standards, trained the bot to handle exceptions and establish fallback workflows. The entire process of PO approval was fully automated and ran independently without human intervention.
Outcome
Our unattended BOT completely automated the PO approval process successfully with a decision making algorithm built into the system. The new hyper-automated process not only saved effort but also completely eliminated errors and delay in the approval cycle which ultimately resulted in much higher productivity.
As a result, the company hit all its goals.
Reduced
turnaround time from 10 mins to
secs.
Elimination of
errors
Reduction of
manual effort
Annual cost
saving of
approximately
INR 38,25,405/
($50,000)
Reduced
turnaround time from 10 mins to
secs.
Elimination of
errors
Reduction of
manual effort
Annual cost
saving of
approximately
INR 38,25,405/
($50,000)
Tools used
