Cognitive Automation: Fortune 500 company brings structure to unstructured data
A Fortune 500 company, one of the top storage providers for hybrid cloud data centers. They deliver hardware and software solutions to the world’s largest corporations.
The company faced highly variable order to cash demand, with surges every quarter-end. They possessed a manual order to cash process involving 50 full time staff (FTEs) performing more than 16 validations against quotes in their ERP. Backlogs were inevitable, even with seasonal staff. The company tried digitization but found the intelligent OCR solution they selected had higher set-up costs than expected. It also required manual creation of customer order form templates, that delivered inconsistent results.
Troubleshooting became a burden and impacted the delivery of the outstanding customer support that the company is known for.
Straight through processing
FTE's focus higher-value work
Savings in 3 months
"My team feels comfortable configuring and enabling new formats in IQ Bot. It's a generation ahead of the previous technology that we were using, much faster to configure and much faster in processing."
Director, RPA CoE
Automating the company’s order to cash process overrun with unstructured data, was a perfect match for Automation Anywhere’s IQ Bot. With IQ Bot, the company has automated 20% of their order to cash process with 75% straight through processing (STP) in just five weeks. They also experience 4X faster set-up time than the existing OCR application. The company met its aggressive goal of concept-to- production in under 5 weeks. IQ Bot’s unparalleled transparency enables rapid troubleshooting, ensuring satisfied internal and external customers.
Order to Cash
THE WHOLE STORY
The company experiences high variability in customer order volumes, with significant surges in demand every quarter end. Staffing became an ongoing challenge for the company, and at the end of every quarter they would recruit and onboard temporary workers. They did this to make sure orders were processed on time, only to repeat the cycle the next quarter. Digitizing customer orders offered little improvement with high set-up costs and painful troubleshooting. So, determining how to efficiently handle spikes in order volume remained unsolved. Today, with Automation Anywhere Enterprise RPA and IQ Bot solutions, 20% of the company’s order to cash volume is automated from start to finish. Depending on order volumes, the company seamlessly scales the number of bots on-demand to ensure customer orders are processed efficiently and on time throughout the year.
The company plans to automate 50% of the order to cash process over the next four months. Now that they have the IQ Bot infrastructure created, the leadership team has requested automations in corporate tax, procure to pay, revenue accounting, and in enterprise reporting. Specific processes have already been identified, and the automation pipeline is growing. Now, the company’s Automation Center of Excellence is focused on scaling their team, dramatically increasing the depth and breadth of processes automated with IQ Bot and continuing to build on their existing success.
"The results are staggering. Within the span of two quarters, the IQ Bot automated processes have delivered significant savings and helped scale resources to respond to the variable demand."
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