Automation of reconciliation process
Challenges
Downloading statements from Banking portal and other financial portals for all 31 outlets on daily basis
Update each outlets corresponding sales clearing reconciliation sheet to verify if there is any miss match in collections, charges
Calculate variance for all 31 outlets for one month data.
Action taken
Actions Taken
Step 1
RPA BOT to download the statements from the online portals and save in local shared folder.
Step 2
To create a new reconciliation sheet every month
Step 3
Automate the reconciliation exercise for the 10 collection types and 31 outlets across regions
Step 4
Send automated reports every day to respective managers
The Problem
Reconcile payments and calculate the variance for all the retail outlets on a day-to-day basis
The Solution
Bautomate bot updates the Main Reconciliation sheet template as per each outlet for different payment mode.
The Result
95% Reduction in Manual Effort for performing reconciliations
86.5% Reduction in Cost, especially previously spent in manual tasks