Intelligent Digital WorkforceFuture of Finance and Accounting Function with Robotic Process Automation

Cost EfficiencyHigh frequency, time consuming, low-value tasks taking up significant capacity of the F&A team

Critical PathDue to typical office hours nature, low-value tasks equally competing for the business hours of the F&A team alongside items in critical path (instead of being handled in low operations hours - evenings and weekends)

ControlDifficult to remain in control as business critical data leaves office premises with outsourcing or offshoring

Value CreationSkilled resources burdened with low-value tasks, preventing them from focusing on business insights and driving value creation for the organization

Key Challenges in Finance & Accounting

Evolution of Finance & Accounting Improving efficiency and productivity of the Finance and Accounting (F&A) function historically meant either offshoring, outsourcing or centralizing the activities involved. Regardless of the approach, low-cost labor and labor-arbitrage played a pivotal role in savings yielded. With economic development around the world, coupled with shortage of skilled labour, this traditional model is under severe pressure. Some of the major challenges faced by the F&A function are an increasing need for minimizing costs to support decreasing margins and providing high-quality value added business insights quickly and frequently.

Augmenting the F&A team with an Intelligent Digital Workforce (IDW) to automate all the rule based and repetitive tasks is fast becoming a differentiator to unlock a new wave of value and efficiency. In this hybrid workforce model, the existing F&A team is freed from all the menial, time consuming tasks and allowed to focus on activities that add business value, as a result of non-value added activities getting automated.

It is estimated that automation of repetitive Finance and Accounting activities in Procure to Pay, Order to Cash and Record to Report can yield between 45% to 75% cost savings to most organizations.

Upfront investment (both costs and time) for adopting automation with an IDW is relatively insignificant, compared to major IT system updates. As a result, in the near future, this hybrid workforce approach will become a standard practice of all high-performing F&A teams.

What is Intelligent Digital Workforce (IDW)?An Intelligent Digital Workforce (IDW) is UXPLORE’s Robotic Process Automation (RPA) solution. RPA enables organizations like yours to optimize the revenue per employee ratio by adding capacity on demand to handle repetitive business processes the exact same way your existing employees do. Our IDW do this much more efficiently by automating your processes accross current products/systems/platforms without having to do any new developments or system integrations. UXPLORE IDW operate on top of the existing IT infrastructure, following existing governance and security policies just like human users of the systems.

When to Use RPA

Higher Revenue per Employee Ratio

No need toReplace or Disrupt Existing Systems

Faster Completion Speedwith 24/7 availability

Highly Scalable & Agile increase or decrease digital workforce on-demand

Compliance through Complete Auditability

100% Accuracy & Consistency

Higher employee retention due to Improved Experience

100% reliable

NO Sick Days NO Downtime

Return On Investment

(ROI) within weeks

Increases service levels due to Consistency& Predictability

What are the Major Advantages of RPA?

There is a high volume of repetitive tasks and/or transactions

The tasks and/or transactions are standard and rule-based

When high-speed, consistency, and accuracy is essential

When scalability in capacity(e.g. seasonal) is required

Data gathering, structuring, and/or processing from multiple systems

RPA Use Cases

Record to Report

Order to Cash

Proc

ure to

Pay

PO Management

Open Order Management

GRN Audit

Master Data Management

Invoice Processing Disbursements

Spend Analysis

Supplier Spend History

Shipment Tracking

Trade Spend Tracking

Work Completion

Status

Freight Tracking

Deductibles Analysis

Quote Generation

Order Review

Billing

Trigger Order

Credit and Collections

Bank Reconciliation

RPA SuccessWorkflow fully automated - no manual intervention, 0 manual effort

except for escalation management

100% accuracy and on-time trade spend analysis and sales insights

generation (overnight), reducing cycle time by 50%

Freed-up bandwidth of Financial Analysts to focus on Level 2 and

Level 3 insights

Case StudyTrade Spend Analysis and Sales Insights

Automated Process OverviewOne of Canada’s leading CPG Distributor, serving all major retailers such as Loblaws, Walmart, Shoppers Drug Mart, etc Need to gather weekly sales data from all the retailers at store level, clean and transform the data to map to product SKUs, consolidate and perform trade spend analysis to be shared with CPG companies / brand ownersA bot automatically logs into various retailer portals weekly and gathers raw sales data, cleans and transforms the data before performing analysis and generating trade spend insights reports to be shared with various CPG companies / brand owners

Log into retailer portal to download RAW sales

data

Bot gathers sales data

per schedule

Automatically clean &

transform RAW data

PerformAnalysis by SKU

Map retailer code to

standard item code for

each row

Bot automatically repeats for all retailers

Apply data validation

rules to accept/reject files and auto

escalate

Auto generate PDF reports

for each CPG company

Distribute weekly Trade

Spend Analysis and Sales Insights

to each CPG company

Aggregate data at item

level

If RAW data is valid,

clean and transform

data

Perform Analysis by

SKU

Map data to item

code / SKU

Repeat for all

retailer

Check for data validity and escalate to

retailer if any issues

GenerateReports per

CPG company /

brand partner

Share Trade Soebd

Analysis with each CPG company

Aggregate sales data

by SKU

Manual Process

Automated Process

“It takes me 2 - 3 days to finish the whole process.”

“Well, give me same day or overnight for that ...”

After implementing RPA...

RPA SuccessPO acknowledgments are processed in near real time as they are received,

improving handling time by 90%+

Same day escalation if needed to promptly resolve any concern

100% accurate and up to date PO status in SAP, including expected ship date

and delivery date

Case StudyPurchase Order Management

Automated Process OverviewCanadian Telco with 200+ suppliers and 1000s of active POs to manage day to day Purchasing coordinators need to ensure all POs are acknowledged and orders are tracked accurately An Intelligent Digital Worker automatically handles incoming vendor emails by processing PO acknowledgements attached as PDFs; all pertinent details such as expected ship date, expected delivery date are extracted and PO status is updated in the SAP system

Manual Process

Automated Process “Well, I can do it in less than an hour...”

Check if any new emails

from any suppliers

Save attached

PDFProcess the PDF

LookupPO In SAP

Update PO status with details from

supplier

Check for any

anomalies

Escalate to Procurement Manager

for follow-up

Log into Email

All received emails are

handled

PDF attachments

are stored automatically

PDF attachments

are processed

Relevant POs are

automatically retrieved in

SAP

PO details and status

updated perionformation

received

PO is audited per pre defined rules post

update

Trigger escalation

if applicable

Bot monitors incoming

emails

“It takes me 8 hours to finish the whole process.”

After implementing RPA...

About UXPLOREUXPLORE is a Robotic Process UXPLORE is a Software Automation Platform for easily creating and managing an Intelligent Digital Workforce (IDW) for automating business processes. Our IDW manages the execution of rule-based, repeatable tasks and processes (just as people would), in a non-intrusive manner. By taking a real user approach, we enable true cross-platform automation securely at scale without the cost and complexities of IT infrastructure integrations and dependencies. We work with various Tier 1 Enterprises and SMBs across functions such as Finance & Accounting, Human Resources, Category/Brand Management, Procurement, Digital Operations, Customer Service, Billing, etc. to help bring efficiencies and significant cost savings to organizations.

For more information about UXPLORE, please visit

uxplore.ca

Jahan Alijahan.ali@uxplore.ca

647.290.8597

Noel Kirthirajnoel.kirthiraj@uxplore.ca

647.388.3776