Softvision Saves Financial Services Company $8MM Annually
Partnership Boosts Client Productivity with Minimal Process Change
Latest posts by Softvision Team
Using RPA, Softvision’s Arrow Digital Studio partnered with a global financial services client to save $8 million annually, reduce risk, and increase quality.
- Global network of more than 236,000 people in 158 countries
- Professional services include audit and assurance, tax and consulting, covering areas such as cybersecurity and privacy, human resources, deals and forensics
Our client wanted to enable innovation without having to take on a large-scale technological uplift.
Together in the discovery phase, we created a roadmap tied to business outcomes. We gathered a cross-functional team of IT and business user stakeholders to determine key workflows that we wanted to automate. Then we did an analysis of the top Robotic Process Automation (RPA) software vendors and determined the vendor(s) that best suited our target outcomes.
Utilizing our RPA maturity curve model as the foundation of our strategic plan, we laid out the key objectives that we wanted to accomplish.
Working with their leadership and technology team, we set our sights on decoupling a key impediment from its dependencies. Together we developed a solution using RPA to reduce and remove quality and risk management efforts for repetitive error-prone tasks.
Softvision’s practice areas, called Guilds, pull the right experts to build high-performing teams for our partners. Those agile delivery teams, or Pods, work as cross-functional teams to “Transform while they Perform.” Each Guild is a world-class community of expert talent in an area of expertise. For this partnership, the Softvision RPA Guild led the delivery success.
After a three month project, we created a bot that automatically downloads and uploads data from multiple systems, three times a day. In some use cases, a single bot more efficiently completes the defined tasks of one or more workers. For repetitive error-prone tasks, Quality and Risk Management efforts can be removed due to a single point of review.
Softvision’s Arrow Digital Studio was able to remove the need for 6,000 hours of manual labor and is expected to increase to save as much as 100K hours in the next year. The company saves $8M annually and the bots provide enormous increases in accuracy and quality with reduced risk.