How A BFSI Client Saved $1M by Our Strategic Combination of RPA And Machine Learning

Rpa


Executive Summary

Operating in 120 countries, the client is a giant financial institute that provides strategic advice to developing countries on financial policies and technical assistance. With more than 10,000 employees, the client is on the way to form partnerships with major economic centers of the world like IMF and World Bank.

Client Challenges

  • The client has operations in more than 100 countries
  • Since different countries have different rules and regulations, it was becoming increasingly difficult for the client to comply with them
  • Another big challenge was that the client had to regularly track and handle thousands of HR onboarding forms from many countries, and thus in many languages and formats
  • Due to lack of automation, the client was handling it almost manually
  • Consequently, manual tracking, management, and data entry processes were slow along with the obvious element of human error

Our Solutions

  • In our preliminary process of problem identification, we found that our client’s HR forms were marked with multiple data points in the semi-structured format
  • We analyzed and concluded that it as a perfect fit for Bot Automization
  • We ensured the scheduled and daily deployment of Task Bots which would download case files and transfer them to the IQ Bot for data extraction
  • With comprehensive and stringent post-validation rules, we created a robust process of data cleansing
  • The cleansed records then automatically entered into the client’s HRMS system

Quantifiable Benefits

  • 40% of HRMS Volume Automated in the First Year
  • 91% Straight Through Processing rate
  • $1M in Annual Cost Savings
  • 60% of HR Forms Cataloged
  • 70% Time Savings
  • Zero errors on Processed HR Forms

About Futurism Technologies

Futurism Technologies is a global business leader, that bringing 360-degree Digital Transformation for business enterprises of various sizes, as well as technology providers by delivering assured business efficiency through a set of new-age technologies. We provide end-to-end high quality and cost-effective IT services to a variety of industries. With state of the art offices in India, US, UK, Australia, and UAE, we have become a global trusted partner of our clients by delivering age-defining and convention-defying digital transformation solutions.

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