rapidMATION helps Coates achieve success with landmark RPA solution
A strong Robotic Process Automation solution (RPA) can help solve many complex issues that businesses face daily.
In essence, RPA works by making it easier to build, deploy, and manage software robots that can emulate human actions, which then interact with digital systems and software to create better working processes.
No matter which industry the solution is used in, RPA helps alleviate the stress of tasks that are mentally draining for staff. At the same time, it also helps prevent human error and increase efficiency.
rapidMATION, who are experts in providing state-of-the-art process automation solutions, has recently showcased the power of its groundbreaking RPA technology in a partnership with Australia's largest equipment solutions provider, Coates.
The aim of the partnership was to build an intelligent automation solution that could relieve Coates' accounts payable (AP) team from being buried under the mountain of invoices that were coming in daily from over 4,000 suppliers.
To help manage this challenging task, rapidMATION utilised its best automated tech solutions and, after a Proof of Value process, was quickly able to showcase how user-friendly and beneficial this kind of technology can be.
“Being able to experience the proposed solution on a smaller scale allowed me to see the benefits in action,” says Coates national shared services manager Pieter Le Roux.
“It also made my job a lot easier when it came to convincing the executive team to invest in the project!
The solution for Coates combines robotic process automation (RPA) with AI-powered optical character recognition (OCR) to create a digital worker that assists the AP team around the clock. This, in turn, saves thousands of hours that can now be re-routed to more fulfilling and value-adding work and future business progression.
Before introducing the intelligent AP solution, the Coates Hire AP team was responsible for processing around 27,000 supplier invoices every month, which significantly overpowered business-critical activities. The team was managing much of this workload manually by doing things such as monitoring emails, opening attachments, and keying invoice data into their ERP platform.
Unfortunately, this led to a number of problems, such as data entry errors, payment delays, burnout and poor employee retention. There were added costs relating to excess hiring in order to stop bottlenecks, and strained supplier relations due to unfulfilled and untimely service.
Le Roux and his team began researching whether intelligent automation could solve these issues and looked to rapidMATION to help. He worked closely with rapidMATION to build the company's new intelligent accounts payable solution.
The result was an RPA system that could deliver 24/7 service and help teams by:
- Monitoring the AP email inbox.
- Opening attachments and classifying which documents are invoices.
- Deciphering invoice content and extracting relevant data (such as PO numbers and total amounts).
- Transferring all relevant invoice data to the ERP system.
The results of the first 145 days highlighted that the solution was a groundbreaking success. 91,000 emails were processed, and 87,000 invoices were processed directly into the ERP. Coates also saved 2,900 human work hours, taking an enormous load off staff.
This feat signifies that RPA can save you and your business a lot of time, money and hassle. If you want to learn more about how an RPA solution can help, contact rapidMATION at +61 2 8003 3582 or Hello@rapidMATION.com