Payment Reconciliation Automation

Reduced the reconciliation report processing time by over 65%

A global provider of automated public transit and smart transportation solutions required guidance and expertise to deploy and optimize Automation Anywhere’s cloud native RPA platform and its intelligent data extraction platform (Automation 360, IQ Bot) to automate the currently manual data extraction and payment reconciliation processes.

The current process consisted of:

  1. Manually retrieving 20 reports from multiple legacy applications including SAP Business Intelligence and Microsoft Dynamics to create one reconciliation report
  2. Preparing and verifying reconciliation reports, which consumed on average 2 hours per person per report
  3. Manually issuing refunds—when refunds were not delivered within given timeframes or the refund amounts were incorrect, customer complaints increased, as did the customer’s financial penalties
  4. Manually extracting and transferring data from PDF files to Excel files; this is a highly time consuming and error prone process

The Solution

After reviewing the current Automation Anywhere platform deployment, the MOZAIQ automation team recommended that the Intelligent Automation solution be re-engineered and re-deployed from scratch.

  1. An RPA Bot was programmed to download 20+ reports from the multiple systems of record
  2. The reports were first indexed (classified) using MOZAIQ’s indexing platform to: extract the appropriate pages from multipage PDF files and split the unstructured documents into single pages to extract data more accurately from floating tables and fields
  3. The intelligent automation platform then created the reconciliation reports, uploaded the data into a SharePoint repository, and sent email notifications to the appropriate business users for action
  4. A human-in-the-loop process was incorporated into the workflow to handle exceptions prior to uploading the reconciliation reports into the SharePoint repository
  5. The entire refund process was automated, with a human-in-the-loop to handle the business exceptions prior to issuing the refunds

The Benefits

The newly designed and deployed intelligent automation platform reduced the reconciliation report processing time by over 65%, and raised the accuracy level of the reports to over 90%, with the delta in accuracy addressed by the human-in-the-loop resources.

  1. The MOZAIQ indexing and data extraction pre-processing function streamlined the process, immediately reducing the processing time
  2. Post-processing logic applied to the OCR-extracted data (from both tables and form fields) reduced data extraction errors, reducing manual validation needs
  3. Refund Process Automation resulted in a reduction of financial penalties for late and incorrect refund payments
  4. The automation solution incorporates reusable features, enabling the customer to expand automation easily to other similar processes
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