60,000 annual payments
4 FTEs effort reduction
Fintech innovator serving 40+ industries providing automated order-to-cash solutions to speed cash application spanning tailored invoice delivery, secure multi-channel payment processing and intelligent payment matching and posting.
- Credit card payment receipt to processing
- Adobe Acrobat PDF
- MS Outlook
- Robotic process automation (RPA)
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Each day, the company receives about 3,000 virtual credit card payments arriving in emails from multiple sources. The company’s processing team would monitor an incoming email account, manually retrieve each email, capture the payment details and input credit card data into its payment systems. This manual process was unsustainable and could not scale with the company. Leadership wanted a way to process payments quickly and focus its team on handling exceptions.
The solution performs credit card payment processing handling from receipt to data load. First, it grabs new payment emails from Outlook and creates corresponding work items. Next, the solution uses business rules to parse and extract account and invoice details from the email body and attachments which are loaded into the processing system via APIs. Upon completion, completed work items are marked as success or exception. Emails needing follow up are moved to a Outlook folder for manual review.