RESULTS
$48K cost-saving annually.
750+ FTE (full-time employee) hours worth of effort save per month
99% reduction in TAT
End-to-end account process automation with minimal human intervention
What Our Client Say
About The Client
Telecloud is a US-based company operating in the telecommunication sector. They specialize in providing enterprise-level telecom services like business internet, VoIP (voice over internet protocol), and hardware and software integrations for businesses across the US.
Challenges
Telecloud owned a diversified portfolio of products and services and dealt with a massive influx of daily purchase order requests and vendor invoices. Their accounting department was an 8-member team that invested approx 1200+ hours a month to manage the manual accounting process.
Ensuring the accuracy of customer invoicing, vendor payment settlement, and legal compliance was a big pain. In effect, the entire department was engaged in mundane and repetitive tasks that added little to the organization’s ROIs. Telecloud’s vision was to automate its entire accounting process (including bookkeeping, account reconciliation, tax calculation, new & existing account management, vendor management, invoicing, and monthly reports) to bring speed, precision, and scalability to its business operations.
Our Solution
Signity, with its 12+ years of consulting experience, collaborated with Telecloud to build an effective automation solution. Our team of RPA experts worked closely with the stakeholders to study their existing processes and identify key pain points.
Our team saw an increasing gap in current processes when it came to
- Manpower efficiency
- Scaling of functions
- Accuracy in operations
- Employee satisfaction
Our experts recognized various processes that needed automation and created a step-by-step execution plan. The deployment of RPA solution was divided into phases to avoid sudden disruption in operations and ensure smooth digital transformation.
Leveraging RPA, we built & deployed over 50 bots that performed a myriad of operations ranging from fetching records, scraping data at regular intervals, sending invoices to new and existing customers, updating customer profiles, account reconciliation, and creating monthly financial reports.
Key Functions
Data scraping, customer mapping, and bookkeeping
- The bots log in to different customer portals to extract invoices at regular intervals and update them in the database.
- The bots screen the content of vendor invoices to fetch information like opportunity ID, RMA ID, Or Service Request ID and map the invoices to relevant customer billing accounts using Customer_ID.
- The bot links the vendor invoices to the monthly bills to enable users to view all statements related to a Particular Opportunity Id, RMA, Or Service request-id.
- An AI enabled-bot to calculate and update customers' billing who were using customized service plans, ensuring they only billed surplus amounts.
Tax Calculation, reconciliation, and compliance
- Bots keep track of inward and outward entries from tax compliance perspective against the payments received from the customers and the expenditures made
- It tracks the payment amount against the invoice number to ensure the Tax amount is calculated and filed against the right customer invoice.An AI enabled-bot to calculate and update customers' billing who were using customized service plans, ensuring they only billed surplus amounts.
- It automatically generates the tax report and sends it to the team every month for further processing.
Reporting
- The bots generate monthly reports on order, vendor invoicing, customer billing, company expenses, customer refunds, device replacement requests, and Tax invoice report.
The Impact
Telecloud could automate and streamline more than half of its accounting processes. RPA made processes independent of human intervention, creating prompt, precise, and error-free functions. With bots taking over these tedious tasks, Telecloud could use their financial think tank, aka human resources, on high-priority, analytical tasks that generated better value for the business.
Signity’s RPA solution aided Telecloud to
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Save Big on Cost and Effort
The RPA solution aided in reducing a total of 750+ man-hours worth of effort per month, resulting in approx $48K cost-saving annually.
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Enhance Operation
The end-to-end account process automation helped the client reduce the turn-around time of operation by 99%.
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Improved Accuracy
The client has achieved 100% accuracy in their operations.
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Better Compliance
The extensive reports generated by RPA enables the client to keep track of their ongoing operations. The client can now easily monitor the functions and quickly take corrective actions in case of discrepancies.
