Process Automation Services to Optimize Daily Cash Summary

Automation reduces time, effort and cost, whilst reducing manual errors, giving the business more time to focus on primary objectives. The efficient use of time gives companies the option to increase output without expanding the workforce, or to cut payroll costs and maintain the same level of output.  Automating processes ensures high quality results as each task is performed identically, without human error.

Business Challenge

The client is a leading domain name registration and web development services company.  As part of their daily processes, they were required to do a manual reconciliation of checks with bank statements to generate a daily cash summary. The data for this summary had to be collected from multiple sources (Bank, email, PDFs and ERP) and the process needed segregation into multiple columns based on their products. This was done manually using a defined standard operating procedure (SOP).

Aeries Solution

Aeries suggested automating the generation of daily cash summary to improve efficiency and save time.

• Based on the requirements of the client, Aeries Technology built a solution using UiPath to automate the process of reconciliation.
• OCR engine was used to read through the checks, and the bot was able to securely extract the data from multiple sources like ERP, emails and banks.
• UiPath could then read the ‘Check’ transactions through pdfs and create an excel form with predefined fields​.
• The solution was able to handle different types of remittance​ and apply different workflows to different banks based on the remittance.
• The solution was capable of reading and interpreting multiple data formats, and work through multiple files to generate the daily cash summary report; and the generated report would go through a final QA check.
• All documents were saved in common folders for team to carry on the next steps in the process​.
• The balance was tallied at the end of the process and the excel was then sent out to all the stakeholders.
• Technologies Used/Interactions included:
  • UI Path
  • Regular Expressions
  • XLS Manipulation
  • Google Tesseract.

Business Impact

Prior to automation, the manual process used to take 180 minutes per day but now with Aeries solution it is completed in 15 minutes (saving 800 manhours per year).

AR and other teams that relied on these reports to kick-start their daily schedules benefited and saw increased efficiency. The manpower saved as a result of automation was now applied to more complex tasks.

Process Flow