Back Office Automation
Robotic Process Automation (RPA) can rescue back-office procedures from high degree of manual processing, avoidable high expenses and errors. It eliminates dependence on multiple business functions and systems through IT systems integration.
Our RPA delivery framework enables organizations to create a fast, accurate, cost-effective, and round-the-clock virtual workforce for various operations—leading to operational excellence. We have proven experience in helping organizations successfully implement and create an effective strategy for RPA deployment.
- SmarTransfer (Account Transfer Process) Automated account transfer and tracking framework, built over ACATS, CBRS and other services in the US market and aligned with ALTUS in the UK market. The framework covers the entire account transfer lifecycle from request initiation to settlement.
- Automated (RPA) mutual fund payouts Fully automated processing of about 4,000 to 5,000 Mutual Fund accounts per month as a fund reaches its income payable date. The income payout is made by either of the two options chosen by an investor and stored in the system of record—cash paid back to the investor or the dividend reinvest into the fund.
- Automated data Management and quality Automated execution of business rules for data scrubbing and applying match and merge rules for reconciling data pertaining to securities, pricing, forex, ratings, instruments, and corporate actions using Markit EDM. This helped create a unique identifier for a security enabling client to spend lesser time on data reconciliation and more accurate reporting across different asset classes, equity funds, and other investment vehicles.
- Back-office BPM (Pega) implementation: Have modernized and re-engineered 150+ business processes and sub-processes in the back-office area with more than 10+ integration touchpoints with 20% reduction in FTE that required human intervention to an automated system based on Pega BPM. This led to 80% increase in operational efficiency, 128% increase in SLA adherence (time-to-respond), and 500% improvement in accuracy and efficiency in matching and routing the incoming service request to through mails and faxes.
- Cost-savings: Reduces operational costs by 40-65%
- Accuracy and Compliance: Every step, every expensive and error-prone manual process/steps are digitized using RPA, reducing errors and improved quality and compliance
- Productivity: Working 24X7, helps deliver more work in a shorter span of time
- Scalability: Makes it easier to cope with volume fluctuations (in response to business growth) coupled with speed, agility, and resilience
- Customer satisfaction: Improves efficiency and process accuracy through reduced queries and complaints while minimizing service delivery time, leading to higher customer satisfaction
- Transformation: Identifies bottlenecks and streamlines processes, transforming the way clients do business