Results
3.5 FTEs saved annually
Faster decision making
Improved controls
Company Profile
Our client is a global leader in financial technology solutions for fleets, corporate payments, and healthcare. They have created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. With its technology supported by a services organization, running an efficient and scaled back-office and customer contact center are essential.
Scope Highlights
- 1 million invoices worth more $6 billion
- User-maintained data quality and validation business rules
- Credit limits by customer
- Robotic process automation (RPA)
- OCR component
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Get a QuoteChallenge
Fintech is in the invoice factoring business and buys invoice receivables from clients in need of working capital. Every time it acquires an invoice, it must be validated for accuracy and completeness while applying that client and debtor credit limits and other business rules. Management wanted to automate the process for improved consistency, productivity, and throughout.
Speed and risk management are the essential elements to operating an effective and scaled factoring automation. The more manual a process, the more restricted our client was to grow their business.
Solution
Automation runs side-by-side with agents during business hours. As it intakes each new invoice, it uses business rules to inspect data quality and evaluate credit limits. Invoices requiring further verification or processing (such as raising credit limits) are sent to agents for manual processing. The automation consistently processes over 90% of invoices, allowing the agents to focus on the remaining posting and look for other improvement opportunities.
