Accounts Payable Automation
Optimizing the accounts payable (AP) process has been a difficult and frustrating undertaking for many companies. Despite efforts in process re-engineering and the use of technologies such as ERP, OCR, and EDI document management and e-invoices, fundamental issues remain. Many organizations have decided to simply outsource their AP function and reduce costs through labor arbitrage.
RPA allows for a company's ERP system to seamlessly integrate with automated activity outcomes and data. Furthermore, new capabilities, such as payment reviews and authorizations via mobile devices, will become possible. This provides a solid automation foundation for organizations with a highly manual procure-to-pay process (P2P) cycle, enabling them to reduce costs, improve performance, achieve regulatory compliance and gain real-time visibility into payables status.
+ Automated data capture and data entry
Invoice capture is processed with OCR technology to 95%+ character level accuracy from a scanning device if the invoice is paper-based, or from an electronic file, such as a PDF or email. All document actions are saved in archived log files, providing audit support and reporting for compliance purposes.
+ Highly configurable workflow automation rules
The accounts payable automation solution addresses the business logic that is behind complex P2P processes with highly configurable workflow rules. This enables intuitive and effective end-to-end automation for two or three-way document matching, ERP system reconciliations and branching flows for special items such as non-PO invoices.
+ Approval and exception resolution
Approval activity is streamlined in the AP solution by rules-based, auto-approved, workflow criteria that limits human involvement to specific approval situations. Exceptions are triggered by data that does not conform to automated workflow criteria for routing, matching and circulation actions. UiPath minimizes exception resolution by following well-defined redistribution rules that are designed to identify and escalate exceptions to the right skill sets. The solution also uses live monitoring to flag exception points for rule reviews and fraud detection.
+ Regulatory compliance and governance
The UiPath accounts payable automation solution embeds compliance and governance controls, such as authorised roles and the segregation of duties. In addition, archived log files that document the details of all automation activities minimize the cost and disruption of compliance audits.
+ Flexible & adaptive
The UiPath accounts payable solution delivers flexibility and adaptability benefits. Changes in transaction volumes from growth, acquisition or consolidation are easily accommodated without compromise to performance or accuracy. Real-time performance monitoring and documentation facilitate new analytic or predictive capabilities requirements.
Claims Processing Automation
At the heart of the business of insurance is Claims Processing. It is at this stage that the insurance company meets its commitment to its customers, sets standards of service, drives credibility, and fulfils its obligations. The claims environment is deeply reliant on process speed and accuracy to meet customer demands, as it involves layers of administrative, managerial, and customer service functions, marked by information intensive manual tasks and problematic document formats.
+ Manual inputs
Traditional claims processing depends heavily on manual labour. This makes the process increasingly inconsistent and prone to errors. The situation gets even more complicated when the workforce is outsourced. Companies often have to depend on unreliable and indifferently skilled workers, which means increased costs, and more time spent on completing the process.
+ Disparate input media
Paper, electronic documents, images, emails, and sometimes even the apps handling different stages of the process are different and not integrated. The result is a distinct lack of fidelity and accountability.
+ Legacy applications
Insurance companies are often trapped within the framework of the legacy apps that drive their core processes. Sometimes, these applications are outdated and do not interface well with newer, up-to-date solutions.
+ Data retrieval
In the labyrinth of software, processes, applications, and systems, data often get lost or become extremely hard to retrieve. This can go on to greatly increase the cost, as well as the dedicated time data retrieval takes.
+ Regulation and compliance
Changes in regulations can greatly impact processing. In fact, sometimes the whole process might have to be overhauled. This can become a major drawback when the company operates in different states and countries, each with its own sets of laws and regulations.
Contact Centre Automation
Customer satisfaction is essentially the key goal of call centre performance, as good customer experience management drives immediate profitability and long-term success. Call centre automation enhances quality and effectiveness, delivering vast, significant benefits at various touch points.
An integrated automation solution links the systems and applications in one console, builds a unified knowledge base that delivers relevant data in real time, and automatically sets up & kicks off processes for an efficient post-call wrap-up. Agents are freed from having to process repetitive, manual tasks and can focus on developing their customer-centric skills. Unlike many first-generation RPA tools, which focus primarily on the design of robots, the UiPath platform was designed to meet the deployment, management, security, reporting, integration, and scalability requirements of today’s global enterprises and BPOs. UiPath combines an intuitive and easy-to-learn Visio-style process designer with an enterprise-grade management platform that can be deployed in the Cloud or on premise.
Thus, you can manage all the organization robots from a single console. The agent will safely and swiftly update information in different systems simultaneously, without having to jump between screens and compromise accuracy. Dynamic search options will save time within the conversation, and more importantly, will lower the call abandonment rates. The system provides the agent with up-sell and cross-sells suggestions in real time, creating the opportunity to maximize revenues. At the same time, the automatic capture of manual inputs ensures optimization and efficiency of the wrap-up work. Data is safely recorded and then comprehensively logged, gaining processing accuracy for the organization. This frees up time for the agent to take more calls, allowing him to develop his customer-centric skills.
Finance and Accounting Automation
It’s no surprise CFOs across all industries are looking for ways to have higher efficiencies, lower costs and better reporting. They’ve been facing these challenges for some time—and not without some real success. CFOs have automated finance and accounting processes since ERP systems arrived in the 90’s. The result? Today there is about an 80% automation rate for common processes like AP/AR; for lesser processes, the rate is around 50%. Next, CFOs aggressively outsourced as many unautomated processes as possible. The impact? Finance & accounting contracts rank in the top five BPO services by revenue. This left them with Lean and Six Sigma as the remaining options for a final 10-15% cost savings.
Until RPA. While the Lean and Six Sigma options remain, RPA can deliver much greater benefits in two ways. One, companies typically have sub-processes specialized to their own unique close, consolidate and report requirements. Robots can own those repetitive monthly, quarterly and year-end tasks. Two, and more significantly, RPA can automate processes that don’t have the volume to justify the costs, resources, and risks of an ERP integration project. For example, thousands of monthly vendor invoices that fail SAP validation, or hundreds of company billing invoices sent to dozens of customer portals. As you’ll see in the Challenges and Solution section, UiPath RPA technology has proven time and time again that these “small” volumes deliver large savings and performance improvements to our customers.
Healthcare Payer Automation
Like all insurers, health plans must find ways to cut costs, increase quality and improve customer satisfaction, while complying with regulations and supporting new policy products. It should come as no surprise that health insurers scrutinize claims processing operations for money saving opportunities. In fact, 70% of claims process successfully—or ‘auto-adjudicate’—on the first attempt, costing the insurer about $3 per claim. Failed claims, requiring manual processing to correct code exceptions or data errors cost the insurer about $28 per claim—almost ten times as much.
There’s no question that auto-adjudication has transformed processing and made inexpensive claims possible for healthcare plans. However, many claims fall outside the scope of business rules limited by the older technology common to many claims processing systems. UiPath encourages healthcare customers to view its RPA solution technology as “claim repair” robots, noninvasively integrating with back-end systems and databases. What's more, bringing intelligent automation to “error and edit” claims that would otherwise fall into slow and expensive manual remediation. Our solutions reduce claim processing turn-around-time and sharply lower operational costs. They help customers quickly incorporate process changes to support new products and stay ahead of the competition.