Automating reconciliation processes

Project Summary

A leading salary packaging provider in Australia faced challenges with manual processes leading to a variety of issues. Discover how Avec was able to address these challenges and deliver an end-to-end automation solution to solve these issues.

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The challenge

A leading salary packaging provider in Australia was experiencing significant challenges with their reconciliation process, stemming from the manual execution of critical high-volume tasks by skilled individuals. This led to human error, scalability issues, meeting SLAs, and the need for rework in the existing manual process. The specific challenges included:

  • Manual extraction and reconciliation for each income list across 2 different platforms.
  • Complexity in processing 1,600+ unique income lists accurately and promptly every fortnight due to formatting variations.
  • Heavy reliance on human resources, resulting in time-consuming and error-prone tasks that consumed valuable skilled worker time which could be better utilised for more productive tasks.

The solution

The Avec team conducted a comprehensive process walkthroughs and requirement elicitation workshops with the client to assess the feasibility of addressing the challenges. Following this, the Avec team successfully:

  • Executed a proof-of-concept over a 2-week period to demonstrate the capabilities of the IDP platform (ABBY Vantage) and project configuration in handling diverse client data systems.
  • Developed and implemented a complete IDP solution that effectively classified documents, extracted a large volume of data points from varied inputs, performed business rule validations, and generated structured outputs for downstream automation with an impressive 95% accuracy.
  • The IDP solution was integrated with RPA to streamline and automate both the upstream and downstream portions of the process, resulting in an end-to-end automated solution.

The result

Within a 12-week timeframe, Avec delivered a comprehensive end-to-end automated IDP and RPA solution, encompassing classification, extraction, and validation. The project has also delivered 499 cases with straight-through automated processing (ABBYY Vantage and BluePrism), saving approximately 108 hours. The solution also included enablement training and a thorough handover to empower the client to independently support the solution in the future.

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