Robotic process automation improved the efficiency of financial management
The financial management company ProEventus wanted to automate the processing of purchase invoices. The previous purchase invoice process involved a lot of slow manual labour and the company wanted to free up working hours for cases that require special attention.
Mtech offered robotic process automation as a solution for ProEventus. The aim was to process as many purchase invoices as possible without any direct involvement by an employee. This meant automating the circulation of purchase invoices and their transfer to payment processing.
When the customer’s needs had been assessed, Mtech put together a proposal for ProEventus regarding the cooperation model. At the start of the project, ProEventus specified the conditions and boundaries they wanted the robot to operate within. Mtech’s team then built the solution based on those specifications.
“The project got off to a good start and progressed smoothly. There was close communication between the team members, potential problems were identified immediately and the team took action to resolve them,” ProEventus’ representative says.
Progress was described to the customer in a concrete manner and ProEventus was kept up to speed on the project throughout its duration. Project components were introduced into production one by one as the parties approved them. New functions and features were actively tested along the way.
Cooperation led to more extensive use of robotic process automation in financial management
The progress of the project was exceptionally fast. The cooperation started in August and the robotics solution was already processing purchase invoices in October.
The development effort continued in November with automating the entry of purchase invoices transferred to payment processing into the ERP system. Further needs emerged, with the next step being to automate the processing of incoming RI messages from banks.
By February, the robotics solution was processing messages by assigning customers to electronic invoicing or discontinuing the use of electronic invoicing for a customer, for example. The automation of transferring invoices to payment processing was also implemented at the same time and the automation of purchase invoice processing from the first phase of the project was improved upon.
Today, a third of the purchase invoices processed by ProEventus go through the automated solution. This translates to 2,000 invoices per month that employees do not need to process.
The ProBotti software robot is now a team member that works reliably and diligently around the clock. According to the customer, Mtech has closely monitored the robot’s work and provided good support whenever problems have occurred. It has been easy to send additional assignments to the familiar team.
“The best part about this project has been the team’s confident attitude of getting things done. They haven’t promised too much but we’ve always had the sense that solutions will be found as needed,” the customer says.
Read more about robotic process automation, the opportunities it presents and the cost savings it enables in financial management.