OrangeWorkforce Use Case
Bank Frees Up 2-3 Days Monthly with Write Down/Write Off Automation
Industry
Banking
Results
- Staff could dedicate 2- 3 days monthly to focus more on urgent or critical tasks
- Write Down/ Write Off accounts’ information are up to date and readily available for monthly status reporting
Applications Involved
- Microsoft Outlook
- Microsoft Excel
- Sharepoint
Background
A commercial bank needs to comply to regulatory and compliance reporting to maintain the write down/ write off ledgers on a regular basis. This activity is essential and could be time consuming, but the priority is relatively low.
Manual Process Before OrangeWorkforce RPA:
- Bank employee needs to create the write down/ write off ledgers manually using statement history and other financial reports
- Bank employee needs to update the write down/ write off ledgers whenever there are payment received, or when there are legal costs incurred. There are about 2000 write down/ write off accounts to-date.
- Bank employee needs to provide a summary reports monthly to management on the activities of these accounts.
Automated Process with OrangeWorkforce RPA:
- Bot get the statement history and earning plan to create new write down/ write off manual ledger of a particular account. There would be multiple such accounts to be created on a weekly schedule.
- Bot update for each of the manual ledgers created weekly, on payment received or cost incurred in each account.
- Bot will prepare the summary report of all the write down / write off accounts created, with its month end balance amount remaining.
Results After OrangeWorkforce RPA:
- Staff could dedicate 2- 3 days monthly to focus more on urgent or critical tasks
- Write Down/ Write Off accounts’ information are up to date and readily available for monthly status reporting
