Case Study: Import/Export Company Automates Finance and Accounting Processes with RPA
The client, a global leader in the import and marketing of high-quality tires, offers wholesale tire dealers with services in over 55 countries. The firm is committed to providing high-quality services and goods to its clients and believes in investing extensively in its employees to ensure that each employee understands how the business operates and how they can help the company achieve its quality and efficiency goals. The firm has expanded by more than 220 percent in the previous five years and continues to expand internationally!
Finance and Accounting staff spent several hours administering time-consuming and manual procedures for generating Purchase Orders (P.O.) and invoices in their ERP system, as well as email-based and manual approval processes and contact with suppliers and customers. Additionally, these manual processes were difficult for new recruits within the department to understand and implement, and were prone to human mistakes and omissions.
Rapid and Accurate Robotic Process Automation (RPA) Solution
The Accounting and Finance team recorded the step-by-step procedures for creating, modifying, and canceling purchase orders and invoices in a word document, and everyone on the team followed those steps and procedures on a regular basis. The specified processes were cumbersome and necessitated several manual steps and time-consuming chores to complete. The Accounting and Finance team desired an optimized and automated solution that would improve work speed and accuracy while eliminating manual and time-consuming procedures.
Optimum’s trained RPA developers examined the operations and made recommendations for process optimization, as well as data input templates for standardizing the process and data intake. We then used Nintex’s RPA system to automate the whole purchase order and invoice production, approval, and modification/cancellation procedures. This RPA solution employs conventional Excel data entry templates, performs all activities and stages specified in the procedures, and communicates with the company’s ERP system to produce, approve, and amend purchase orders and invoices. Additionally, the RPA system offers warnings and notifications to the Accounting and Finance teams in the event of data mistakes or process deviations.
Project Outcome
The P.O and Invoice generation and approval process is streamlined and automated saving many administrative hours for the Accounting and Finance team members and reducing the chance of errors and omissions in the process. This RPA-based automation has resulted in increased efficiency and productivity of the Accounting and Finance department and improved internal and vendor/customer collaboration.
About Hydra Technologies
Hydra Technologies is a modern Software Consulting firm, designing and building results-driven, customized solutions that brings the power of Modern Software Solutions, Process Automation and Optimization, BI and Cloud, and Systems Integration to organizations to increase efficiency, reduce operational costs, and drive digital transformation.
As a certified Nintex partner, we specialize in developing RPA and Process Automation Solutions that enable our clients to rapidly automate their business processes, connect their systems and data, and optimize their team efficiency and business outcomes.
Hydra Technologies is a modern Software Consulting firm that helps businesses in their journey through the evolution of technology. They provide solutions and design services for multiple sectors. The company was founded by two experienced entrepreneurs with over 20 years of experience in the industry.
Hydra Technologies is one of the leading software consulting firms that provide solutions for multiple sectors. With over 20 years of experience from both founders, they can help with your business’s move to technology with their expertise in design and engineering.
