INDUSTRY: Finance
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How Accelirate’s Agentic Process Automation Simplifies Special Accounts Cost Recovery for Global Firm, Saving 940 Hrs and $47K ROI
940
Hours Saved Annually
$47,228
Annual Cost Savings
100%
Error Reduction
Client Overview
The client is a leading humanitarian organization focused on delivering food assistance worldwide. Their global finance team faced challenges in processing insurance premium charges for Special Accounts Cost Recovery. The manual workflow for parking and posting Journal Vouchers (JVs) was prone to errors, and lacked visibility into budget code management across multiple locations.
Key Takeaways
- Automated insurance premium charge processing with intelligent agents
- Elimination of manual intervention, reducing errors and delays
- Enhanced compliance and real-time tracking of transactions
- Seamless integration with SAP Wings, SharePoint, and Outlook
- Scalable automation framework adaptable to evolving financial workflows
The global finance team of a leading humanitarian organization faced inefficiencies in manually processing insurance premium charges for Special Accounts Cost Recovery. Their operations heavily relied on accurately parking and posting Journal Vouchers (JVs) across multiple locations, which was time-consuming, error-prone, and lacked real-time visibility. This led to inefficiencies in budget tracking and increased operational delays. To optimize the process, they partnered with Accelirate, a leader in Agentic AI-driven process automation, implementing intelligent automation to streamline insurance premium charge processing. The solution eliminated manual intervention, reduced errors by nearly 100%, and saved 940 hours annually. With seamless system integration, enhanced compliance, and improved financial data accuracy, the client now benefits from a more efficient and scalable financial workflow.
Optimizing Special Accounts Cost Recovery with Intelligent Agents for Financial Accuracy
The client’s finance team faced challenges in parking and posting of the JVs for the Special Accounts Cost Recovery and managing follow-up communication with offices on budget codes. The existing process required extensive manual effort, leading to delays, errors, and a lack of real-time visibility into budget tracking. Managing insurance premium charges across multiple country offices further complicated compliance and reporting. To address these challenges, Accelirate implemented an Agentic process automation solution, fast tracking JV processing, eliminating manual intervention, and enhancing financial accuracy. The solution optimized data validation, exception handling, and real-time tracking, ensuring seamless and error-free execution.
01- Automated Data Retrieval & Standardization
The dispatcher Agent operates from the 15th to the 20th of the first month of each quarter, checking for input files in SharePoint. Upon finding the file, it triggers execution, standardizes data, and generates necessary reports.
02 - Intelligent JV Parking & Posting
The Agent processes Journal Vouchers (JVs) in SAP Wings, ensuring accurate parking and posting of insurance premium charges according to predefined funding codes.
03 - Exception Handling & Missing Data Resolution
If Business Areas or Fund Assignments (FAs) are missing, the Agent generates reports for failed cases and ensures discrepancies are addressed before proceeding.
04 - Budget Compliance & Automated Follow-ups
The Performer Agent runs daily for six weeks, sending weekly reminders to Country Offices (COs) that have not responded or have exceeded their budget limits.
05 - Secure Data Storage & Tracking
Invalid email attachments are moved to the “SACRFailed” folder for business awareness, while successfully processed emails are tracked in the “SACRProcessed” folder to prevent duplication.
06 - Automated Notifications & Compliance Reporting
Reports are automatically sent to FING and COs, ensuring accurate reporting, compliance, and financial visibility throughout the process.
What Was Unique About the Implemented Solution?
The solution exemplified the role of intelligent AI Agents-driven automation that fully automated the Special Accounts Cost Recovery process with zero manual intervention. These Agents efficiently managed high-volume financial data processing, including JV parking and posting, exception handling, and compliance reporting, ensuring accuracy and speed. This automation empowered finance teams by allowing them to focus on strategic financial management rather than time-consuming manual reconciliations. The seamless integration of automation with SAP Wings, SharePoint, and Outlook minimized disruptions and addressed critical operational challenges, resulting in a more efficient, accurate, and scalable financial workflow.
Driving Compliance and Operational Excellence with Intelligent Automation
Accelirate’s intelligent automation solution transformed the client’s Special Accounts Cost Recovery process by eliminating manual financial processing and enhancing accuracy. The result was improved compliance, reduced errors, and significant time savings, allowing the client to optimize resource allocation and focus on higher-value financial activities.
01 - 940 Hours Saved Annually
Automated processing drastically reduced time spent on manual JV handling and budget reconciliation.
02 - $47,228 Annual ROI
Optimized financial workflows led to significant cost savings and improved resource utilization.
03 - Near 100% Error Reduction
The solution virtually eliminated manual errors, ensuring precise financial data accuracy.
04 - Increased Operational Efficiency
Finance teams could focus on strategic planning and compliance improvements rather than transactional processing.
05 - Optimized Data Visibility
Improved reporting and centralized data tracking ensured better financial oversight and compliance transparency.
Now Build Intelligent AI Automation Agents Tailored to Your Financial Processes
Leveraging Accelirate’s expertise in intelligent AI Agent-driven automation, the client has transformed their Special Accounts Cost Recovery workflows, eliminating manual effort and enhancing financial accuracy. Automating JV processing and budget tracking ensured near 100% error reduction, improved data visibility, and significant time savings, allowing finance teams to focus on strategic financial management.
Partnering with Accelirate, they were able to build scalable, reliable, and intelligent finance automation solutions that streamline financial workflows with minimal human intervention. Leverage our end-to-end process automation capabilities to optimize your existing systems and maximize efficiency. Interested in learning more? Reach out to us today!
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