Substantial Savings Through Automating Reconciliation

  • 12

    Time saving equivalent to 12 full-time employees

  • £1.6M

    £1.6 million in savings

Davies can help you make the right decisions about where, when and how to introduce automation, and ensure you have the right processes in place to fully capitalise on the benefits automation can bring.

Reduce risk and benefit the bottom line of your company with intelligent automation.

Overview

As heavily process-driven functions, finance and HR are ripe to be transformed by intelligent automation. Davies can help you make the right decisions about where, when and how to introduce automation, and ensure you have the right processes in place to fully capitalise on the benefits automation can bring.

The finance and HR functions are responsible for some of the most important, yet repetitive, tasks in any business. Invoicing, reconciliation, payroll: all recurring requirements where a single digit error can have huge consequences.

Introducing automation can reduce the risk, and at the same time free up staff to focus on more skilled tasks.

When a professional services group opted to automate its cash reconciliation, the focus was on saving time for a busy finance team. But the outcome far exceeded expectations.

Our Approach

Davies set about helping the client automate their cash reconciliation. Using our expert skills, we defined, designed and delivered successful enterprise-wide automation. We worked closely with the client to align our resources with those already in place, as well as recommending the right technology based on the client’s needs. The end result was the ability to automatically assign payments to invoices which reduced human error and allowed the finance team to identify and act on anomalies faster.

Return on Investment

The company saw savings of over £1.6 million. A substantial share of those came through avoiding human error, as well as the time saved through automation; equivalent to 12 full-time employees. In practical terms, that meant that the existing finance team could be redeployed away from basic administration to focus on more complex tasks.

Contact us to overcome your Intelligent Automation challenges, with rapid data-driven assessment, independent advice, and transformation services.

Chris McIlduff
Chief Customer Officer
chris.mcilduff@davies-group.com

Michael Anderson
Vice President
US/Canada
michael.anderson@davies-group.com

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