INTELLIGENT AUTOMATION CASE STUDY

Fintech scales its invoicing business through automation

Industry : BPO and Business Services

Function : Accounting and Finance

Results

Scalable solution enabled business growth

Scalable solution enabled business growth

Faster invoice processing

Faster invoice processing

Over 35,000 invoices processed annually

Over 35,000 invoices processed annually

Company Profile

Fintech innovator serving 40+ industries providing automated order-to-cash solutions to speed cash application. Their services span tailored invoice delivery, secure multi-channel payment processing and intelligent payment matching and posting.

Automation Case Study Snapshot:

  • Industry : Banking and Finance
  • Challenge : Manual data entry
  • Solution : Invoice Processing Automation
  • Outcome : Scalable automation enables business growth

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Challenge: Manual data entry limits scale

This Fintech’s billing service sends invoices to customers on behalf of its clients according to each client’s specific invoicing instructions. The billing team would log into the client’s accounting portal (e.g., Coupa, Bottomline, Taulia) to manually log each invoice sent.

The process was highly repetitive and error prone, requiring significant management focus. Previous attempts to automate the process were suboptimal, requiring extensive ongoing development. Leadership sought an automation that could scale cost-effectively with their rapidly growing practice.

Solution: Invoice Processing Automation slashes processing time

WonderBotz developed a Solution based upon a chassis-connector approach. It ingests the customer invoices from a secure folder, parses the data, determines where to deliver the invoice and submits it to the client’s system of record.

Portal credentials are securely managed through the company password manager. Client portals without API capabilities are handled through an RPA connector and managed by externalized business rules.

Successfully completed transactions are archived automatically. The billing team is alerted to any exceptions for guidance and then final status is logged.

The solution processed the existing 35,000 invoices per year in a fraction of the time of manual processing. The invoice processing automation enabled this Fintech company to take on additional clients, growing its invoicing practice.