Client: Pan-African holding company with core operations in hospitality, cleaning, catering, and facility management
Business need addressed: Significant decrease in cycle times and increase in accuracy of accounts payable (AP) reconciliation among 1,100 vendors
Genpact solution: A combination of process re-engineering and optimization followed by deployment of Rapid Automation (RA) solution using an industrialized framework
Business impact: Improved productivity through reductions in manual effort and cycle time, with zero errors and accurate business rule execution, enabled automated upstream business insights via better information-capture and analytics
Leveraging process expertise in combination with an advanced RA solution to transform a back-office environment burdened by multiple enterprise resource planning (ERP) systems, widely disparate processes, and substantial manual efforts, Genpact enabled the client to achieve an accurate, timely, and optimized AP reconciliation process for 1,100 vendors.
A South Africa-based hospitality company, following a slew of acquisitions, was able to expand its services to reach a large, Pan-African customer base. However, the company’s back- office environment, which included multiple legacy systems, non-standard processes, input variances, and manual efforts, was hampering the ability of its AP department to complete reconciliations accurately and on time with 1,100 vendors.
Genpact’s RA solution
RA helps organizations reimagine business processes. It significantly reduces manual efforts via agile, effective automation, and transforms traditional processing to realize performance improvements by:
- Automating repetitive work with a deterministic rules engine
- Achieving application integration through an automated user-interface layer; and
- Reducing errors and deriving analytic insights from data
RA is a desktop-based solution that creates a non-intrusive integration layer requiring neither additional IT-infrastructure investment for the customer nor changes to component applications.
Genpact used its proprietary Smart Enterprise Processes (SEPSM) business process management framework to deconstruct, re-engineer, and optimize end-to-end AP reconciliation processes for the client. By comprehensively retooling the workflow, and implementing cutting-edge technologies to optimize process inputs and standardize vendor-data inputs, this new process reduced the number of required steps by nearly 75%.
Genpact also developed uniform playbooks, with rules and controls to enable enterprise-wide consistency and performance measurements.
Genpact’s RA solution was deployed on the optimized AP process to drive performance improvement by automating repetitive work with a deterministic rules engine, achieving application integration through an automated user-interface layer. This reduced errors and helped generate analytical insights from the improved data.
Ultimately, the RA solution automated 70% of the repetitive steps, such as retrieval of monthly vendor account statements or account-statement-to-vendor-statement comparisons, in the client’s end-to-end reconciliation process.
Genpact’s comprehensive solution leveraged deep domain process expertise along with the powerful capabilities of RA delivered through an industrialized automation framework. This helped the client achieve:
- 45% productivity increase
- 40% manual effort reduction
- 36% cycle time reduction
- ~100% accuracy and business rule execution
- Upstream business insights through analytics on improved data