Monthly Payment Automation

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Monthly Payment Automation

Use Case Description

Monthly Billing Automation - Bank, use-case is a way to make sure that the monthly bills received by multiple vendors are completed on time and no delays are been made which leads to late fee fines. This makes sure that the regular payments are been made with optimal efficiency.

Problem Statement:
Companies are facing a bit of crunch in real time scenario’s where the bills are being received by the company from various vendors and a few gets missed from their end because of human mistake or cause of holidays or employee absence. To overcome this issue, we are monitoring finance emails for vendor bills and validating them using Document Understanding and AI Centre to track and track the expenses incurred by the company during the Financial years by tracking the historical expenses.

Bot checks all the emails and has whitelisted a few vendors for processing else all the other bills are moved to action center for processing. There the end user can either pay the bill or neglect it on his understanding. The bot also moves the expense from whitelisted vendor in case any spike in expense is noticed by the bot.

All the data is stored in a database and the same is visible on a dashboard for the finance team, this allows real time monitoring and also enables minute watch and also avoids late payment is present.

Frequency of run - Every 2 times a day
FTE saved - 5-6 FTE Saved
Time for execution - 5 minutes
Pros - Real time monitoring and avoiding late fees

AS-IS WORKFLOW, TO-BE WORKFLOW

Monthly Payment Automation.pdf

Other information about the use case

Industry categories for this use case: Compliance, Finance

Skill level required: Intermediate

UiPath Products that were used: UiPath Studio, UiPath Action Center, UiPath AI Center, UiPath Assistant, UiPath Orchestrator

Other applications that were used: Website, Excel, PDF

Other resources: -

What is the top ROI driver for this use case?: Minimize risk and ensure compliance in operations

1 Like
4

Hi @ducthinhphatjsc
Welcome to the community…
This is already been implemented in our Organization :slight_smile:

If I can assist do let me know, I’ll try to help