INDUSTRY: Finance
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How Accelirate’s AI-Powered Process Automation Streamlines Financial Reporting for Leading Humanitarian Org, Delivering $65K ROI
3,650
Annual Hours Saved
$65K
Annual ROI
99%
Exception Handling &
Error Reduction
Client Overview
The client is the largest global humanitarian organization dedicated to providing emergency food relief, technical and development assistance. Their financial reporting, particularly the Annual Country Report (ACR), relies on accurate, timely data integration across global operations. However, traditional manual methods were unsustainable in managing complex, multi-system data reconciliation.
Key Takeaways
- Complex reconciliation across multiple systems and reports.
- Manual checks were time-intensive and error-prone.
- Automation accelerated financial verification and enabled timely adjustments.
- The solution saved 3,650 hours annually with near 99% error reduction.
The client, a leading humanitarian organization, facing significant challenges in ensuring the accuracy of its Annual Country Reports (ACR). The financial section of these reports comprising ACR1, ACR4, and ACR5 relies on complex data reconciliations from diverse systems such as SAP Wings, Business Object, Excel, Outlook, and SharePoint. With intricate Country Portfolio Budget structures and the need for consistency with corporate ERP data, the manual process was labor-intensive, error-prone, and risked delays in critical fiscal adjustments.
To address challenges in financial data reconciliation, the client’s FINC department deployed automation to validate and align financial data across ACR1, ACR4, and ACR5 reports. The bots integrated data from SAP Wings and other tools, verifying key figures with speed, accuracy, and efficiency. The solution operates unattended, reducing manual effort, ensuring timely adjustments, and saving 3,650 hours annually, while also providing a $65K ROI.
Automating Client’s ACR Financial Verification through Intelligent Data Reconciliation Bots
Traditional manual methods reconciling data across SAP Wings, Business Object, Excel, Outlook, and SharePoint proved labor-intensive, error-prone, and inefficient. The client tackled these challenges by deploying advanced RPA alongside an AI agent. Following a detailed analysis of their financial reporting processes, the client’s FINC department implemented an integrated solution that performs real-time data reconciliations and leverages AI for predictive analytics and intelligent exception handling. The solution automates critical aspects of the financial data reconciliation process across ACR1, ACR4, and ACR5, delivering significant time savings and enhanced accuracy.
01- Deployment of RPA and AI Bots
Challenge: The client faced difficulties reconciling financial data spread across multiple systems—SAP Wings, Business Object, Excel, Outlook, and SharePoint—with a manual process that was labor-intensive and prone to errors.
Solutions: The Accelirate team implemented advanced RPA bots paired with an AI agent to automate the extraction, comparison, and reconciliation of financial data. The bots operate unattended, ensuring continuous and accurate data validation.
02 - Automation Focus
Challenge: Manually verifying the financial data for the ACR (ACR1, ACR4, and ACR5) was time-consuming, inconsistent, and risked discrepancies in critical fiscal information.
Solutions: The automated solution streamlines the reconciliation process across the ACR reports. Leveraging Robotic Process Automation (RPA) and AI, it standardizes and accelerates data verification, significantly reducing errors and ensuring timely fiscal adjustments.
03 - Data Integration and Reconciliation
Challenge: Data was scattered across various platforms with inconsistent formats, making consolidation and reconciliation complex and error-prone.
Solutions: The solution seamlessly integrates data from SAP Wings, Business Object, Excel, Outlook, and SharePoint. Automated data consolidation ensures real-time consistency and minimizes manual intervention.
04 - Real-Time Financial Validation
Challenge: Delayed identification of discrepancies due to periodic manual checks risked delayed fiscal adjustments and potential compliance issues.
Solutions: RPA and AI enable continuous, real-time financial validations, instantly flagging discrepancies and facilitating prompt corrective actions, ensuring timely and accurate reporting.
05 - Predictive Analytics and Exception Handling
Challenge: The manual process lacked the capability to anticipate errors, resulting in recurring issues and reactive troubleshooting.
Solutions: The integrated AI agent analyzes historical data to predict potential anomalies and automates intelligent exception handling, proactively resolving issues and further reducing manual workload.
06 - Streamlined Reporting and Record Keeping
Challenge: Compiling reconciled data into the final ACR reports was cumbersome and susceptible to human error, complicating record-keeping and audit trails.
Solutions: The automated system efficiently compiles accurate financial data into the required ACR sections, updating records automatically and enhancing data visibility, compliance, and overall reporting efficiency.
Enhancing Financial Accuracy and Operational Efficiency with Advanced Automation
The automation empowered the client to transform its complex Annual Country Report process by integrating advanced RPA and AI solutions. By streamlining data reconciliation across multiple systems including SAP Wings, Business Object, Excel, Outlook, and SharePoint the solution turned a labor-intensive, error-prone process into an efficient, real-time operation. This strategic implementation not only significantly reduced manual labor but also ensured timely fiscal adjustments and improved data integrity, ultimately enhancing operational efficiency and financial transparency.
01 - Streamlined Financial Reconciliation Process
The solution automated the consolidation and comparison of financial data across SAP Wings, Business Object, Excel, Outlook, and SharePoint. Previously, the manual process required extensive effort to reconcile data for ACR1, ACR4, and ACR5, often causing delays. With advanced RPA and an AI agent, the process is now significantly faster and more precise.
02 - Improved Operational Efficiency
By automating repetitive and rule-based data validation tasks, the solution reduced the need for manual intervention. This improvement allowed staff to reallocate resources towards strategic financial analysis and timely fiscal adjustments, enhancing overall operational productivity.
03 - Significant Time Savings
The automated system drastically cut down the time required for data extraction, integration, and reconciliation. With RPA bots and AI working around the clock, the process now saves thousands of manual hours annually, ensuring that financial reports are prepared and delivered promptly.
04 - Reduced Costs
Streamlining the financial reconciliation process has led to substantial cost savings. By minimizing manual labor and operational inefficiencies, the solution not only reduced labor costs but also delivered a strong ROI through improved accuracy and quicker turnaround times.
05 - Enhanced Financial Reporting and Decision Making
The integration of real-time data reconciliation with predictive analytics empowers decision-makers with reliable, up-to-date financial insights. This enhanced reporting capability supports timely fiscal adjustments and strategic planning, ensuring that the client’s financial data is both accurate and actionable.
06 - Minimized Risk of Error Rates
Automation has significantly lowered the risk of human error in financial data processing. The AI agents execute predefined rules consistently, achieving near 100% error reduction and ensuring that financial reports are reliable and compliant.
Managing Financial Reconciliations More Proactively with Advanced Automation
The deployment of advanced RPA bots and an AI agent to automate the Annual Country Report (ACR) financial data reconciliation process has transformed how the organization manages its global financial reporting. This solution has drastically reduced manual effort, minimized errors, and accelerated fiscal adjustments, thereby boosting operational efficiency and ensuring financial data accuracy across multiple systems.
Partnering with a trusted AI and automation provider can help you streamline complex financial processes and drive substantial cost and time savings. Interested in learning more? Reach out to us today!
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