- Re-entering the same data into multiple systems
- Manual transfer of data from one system to another
- Collecting data across multiple systems for reporting
Reduction of Accounts Receivable
Routine tasks take up 80% of office workers’ time
RPA is able to automate most of the routine processes
- The robot replaces human actions in programs and documents
- Robots are able to work without breaks and days off
- All actions of the robot are performed strictly according to the script
Results
- Reduction of accounts receivable by 5-10% or 330 000 dollars with 14 000 dollars turnover
- Employees’ time saved on the routines may be devoted to heavy and complex debts An accountant pays more attention to complex cases
- Improved accuracy of the process — compliance with rules and time frames facilitates debts recovery 2 times as fast debts recovery process
- Reduced human-factor effect results in increased debts recovery rate over 20% increased debts recovery rate
The robot helps to collect payments from clients in a shorter time
20-25% of all assets of a typical industrial company are accounts receivable
Before robotic automation
- Is able to process 20 contractors per a working day: letters, reminders, presentations, claims
- High error rate and delays
Employee + Robot
- An employee and robot together are able to process debts of 200 contractors
- An employee deals only with complex cases
Robots employed make payment collection cycle shorter
- For companies with 14 000 dollars turnover
- Accounts receivable — 3 million dollars
- Debt management — 250 000 dollars
The robot helps to reduce accounts receivable by 5-10%
Savings 330 000 dollars or 38% extra profit
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