The Client
A Global Asset Management Company
Challenge
- Manual and Repetitive process of matching the Bank Credit statement report with Firms expected payment table.
- Cash Receipt to be created manually for all matching entries.
Solution & Execution
- Thorough study of the account funding process was done by our consulting team.
- Cost benefit analysis done and shared with the stakeholders
- Involved our automation team to create BOTs to automate the process
- Implementation of 2 BOTs:
- Auto matching of Bank Statement and Firm’s expected payment table.
- BOT creating cash receipt for the matching entries so that money gets posted in end client account & gets invested.
Value Delivered
- 30% FTE cost saved for the client and benefit passed on to Customer
- Turnaround time improved by ~40%-
- Quality improved ~99.85% from 98%.
- Reduced financial risk with reduction in manual intervention of monetary transactions.
