Internal Activity Allocation

Industry: Life Science
Function: Finance

An internationally active seed manufacturer operates its own IT service organization, which is responsible for all 70 subsidiaries and associated companies of the manufacturer. The services supplied must be invoiced monthly for each of these companies on a cost center basis.

This periodically recurring process must be completed on time and with precision. Manual billing process costs employees one hour for each company or subsidiary. All in all, this monotonous and unfortunately error-prone work adds up to a volume of around 80 hours each month – time that the employees of the seed manufacturer could use for more value-adding tasks.

In order to reduce the workload of the employees, Servicetrace software robots carry out this process and fully automate it. Based on the information they find in the respective billing files for the individual customers, the digital employees automatically create and post invoices in SAP FI. They then send the invoices to the customers by e-mail.

Quality improvement:
no more input errors due to automated execution

Saving time:
approx. 80 working hours per month

Higher employee satisfaction:
because they‘re freed from this monotonous work

Synchronize Contract Data

Industry: Manufacturing
Function: Finance

An internationally active automobile manufacturer is financing its products through bank loans. The loan contracts only exist on paper, thus the internal treasury management system has to manually record each of them. As soon as the banks confirm the loan contracts, including the general terms and conditions, the employees compare the information in the treasury management system with the conditions set by the bank – around 20,000 times a year.

Despite the high volume, the comparison of the data from the treasury management system with the receipts from the banks must be carried out immediately and carefully, because the timely, correct execution of the redemption payments is immensely important – otherwise, the automobile manufacturer is threatened with serious consequences, including the downgrading of its creditworthiness.

Servicetrace software robots automate data reconciliation between the treasury management system and the credit agreement confirmations: They open contract documents (PDF), select the required information with Optical Character Recognition (OCR) and compare it with the contract data from the
treasury management system. The software-robots check whether all relevant data is available and identical.

The automobile manufacturer saves 5 minutes per comparison, around 1,760 hours of processing time throughout the year.

Only if the software robots detect missing or deviating data do they pass on the corresponding loan agreements to an employee for manual checking.

React faster:
software robots start immediately after receipt of contracts

Avoid errors:
the automated comparison identifies deviating conditions in the treasury management system with 100% reliability

Work with more satisfaction:
employees are freed from the unpleasant inspection work and gain more time for more qualified tasks

Accelerate Audits

Industry: Manufacturing
Function: Finance

As part of its risk management, an internationally active machine manufacturer randomly checks the receipts posted for a specific period. This task is performed by highly qualified employees at regular intervals.

These regular inspections take up about two working days per quarter for each employee. The longest part of this process is selecting relevant data for the sample and obtaining all additional documentation for the selected documents. The well-trained employees thus spend a lot of time on these monotonous and error-prone activities before being able to start with the audit.

Servicetrace software robots automate the preparation for the audit.

In SAP, they determine the sample, select additional documents for the selected data in other systems, prepare the list for auditing, and send all of the prepared information and documents to the responsible auditor.

This person can then start with the actual audit.

Acceleration of the process:
audits are completed faster

Reduction of working time:
by automating the preparation process

Higher employee satisfaction:
reduction of workload for higher qualified employees

Compare Order, Delivery and Invoice

Industry: Manufacturing
Function: Finance

The financial accounting department of a leading German automotive supplier has to check the customer invoices of Chinese customers particularly carefully, because according to Chinese law, the price and quantity of the delivery and the invoice must be identical to those of the purchase order.

The special case of customer invoices for Chinese customers translates into a high time investment. The meticulous comparison of order, delivery documents, and customer invoice costs 150 minutes per transaction – with approximately 70 cases each month. Financial accounting staff work with a legacy-system running on servers in Germany. Previous attempts to automate the process failed due to performance fluctuations in the transfer rate to China.

Servicetrace software robots automate the comparison between order, delivery, and invoice. They extract all the relevant information from an Excel spreadsheet and adjust quantity and price of the delivery documents on the basis of the data found. They then create the preliminary and final invoices.

Error-free execution:
the automated comparison between order and delivery ensures correct prices and quantities in the documents

Faster processing:
faster invoicing to the customer

Satisfied customers:
through faster, error-free order processing

Automated Clearing

Industry: Manufacturing
Function: Finance

One of the world’s leading manufacturer of ventilation and air-conditioning systems trades in OTC (over-the-counter) derivatives. OTC derivatives are traded off-exchange directly between the market participants. They are not standardized and typically non-transparent, e.g. regarding to termination clauses or collateral. For a greater transparence and security in the financial market, the EMIR (European Market Infrastructure Regulation) directive requires all derivative transactions to be reported to the TRs (trade repositories).

The company has to report its OTC derivative trades to the DTCC (Depository Trust & Clearing Corporation) on a daily basis, otherwise high fines for compliance violations may be imposed. This task consumes scarce resources in the finance departments.

Servicetrace software robots take care of a large part of the testing and reporting tasks: Every day they scan the trading platform for possible business transactions of the company and compare the data with the information in the treasury management system.

If the data matches, the software robots automatically report it to the DTCC GTR (Global Trade Repository). In the event of discrepancies, they instantly inform the treasury officer, who can intervene immediately.

React more quickly:
software robots check and report reliably and on time

Maximum compliance:
error-free execution and transparent documentation

More employee satisfaction:
and more time for more qualified tasks