INDUSTRY: Finance
Tags:
Overview
Accelirate recently transformed a labor-intensive project equity analysis process for a client by RPA implementation. This solution optimizes the entire Equity Investment Report (EIR) process, which involves assessing project ROI and worthiness. Traditionally completed manually by financial analysts, the process was time-consuming and required substantial overtime hours. Accelirate’s RPA implementation automated key tasks, streamlining the process and delivering more accurate results.
Challenges
The team faced multiple challenges in the equity Investment Report (EIR) process.
- Manual, Time-Intensive Tasks: Financial analysts spent 10 days each month on this process, resulting in 20-30 hours of overtime for each team member.
- Data Gathering and Analysis: Gathering data, running queries, and analyzing project equity required significant manual effort, increasing the risk of errors.
- Diverse Systems and Applications: The process involved multiple systems and applications, creating complexity and room for discrepancies.
- Timely Reporting: Delivering accurate reports to the finance department at the end of each analysis day was crucial but demanding.
Solutions
Accelirate’s RPA Implementation streamlined the Equity Investment Report (EIR) process into a more efficient and accurate workflow:
- Day 1 – Clean up and Prep: The bot prepares systems, removes the previous month’s data, and updates necessary programs for the 9 days of analysis.
- Days 2-9 – Automated Analysis:The bot logs into systems, retrieves project data, and performs calculations. Then, It utilizes the Business Intelligence Analyzer in SAP to assess project progress. Once this part is complete, the Cost calculations are automated, and discrepancies are highlighted. The bot also exports the data in a formatted Excel report. The reports with attachments, like project statuses, are mailed to the finance department.
Results
The RPA solution yielded impressive results:
- Time Savings: The once-10-day process is now completed efficiently, reducing overtime hours for each team member.
- Accuracy: Automation minimizes errors, providing more precise project equity assessments.
- Streamlined Workflow: The RPA solution seamlessly integrates into the client’s operations by aligning with existing tasks.
- Improved Decision-Making: The finance department receives timely and accurate reports, enhancing their ability to make informed decisions about project refinancing.