Simplifying vendor reconciliation with automation solutions
Our client wanted to automate their complete vendor reconciliation processes to streamline their finance and accounting operations. By automating these processes, they aim to reduce the workload on their human resources and focus on addressing open entries and exceptions.
A leading water treatment firm in the UAE with over 200 employees was facing issues with operating their expanding vendor data. With an endless number of financial transactions, it was difficult for the client to manage their vendor reconciliation. Delays in this process have led to a drop in their work efficiency and have even caused difficulty with payment planning. Understanding the critical need for an innovative solution to this problem, Difinity Digital suggested the opportunity of implementing Generative AI (Gen AI) into their reconciliation system for better, faster functioning.
Vendors often provide SoAs in various formats, including PDFs, Excel sheets, physical documents, images, emails, etc. complicating the standardization process. Likewise, handling unstructured data adds another layer of complexity, requiring advanced tools. Our team had developed systems that recognize and standardize synonymous terms to tackle inconsistent terminology used by different vendors. Finally, integrating modern automation solutions with legacy systems is a significant hurdle, as they may not easily support new tools, requiring custom integration for seamless operations.
With tailored automation solutions, Difinity Digital established the water treatment firm‘s control over its vendor reconciliation process. Implementing Gen AI into the firm’s reconciliation system along with RPA made it easier for the client to improve their workflow and increase efficiency. Our team delivers cutting-edge solutions that utilize intelligent document processing tools to extract and organize data from various formats. We also provide end-to-end automation, allowing data extraction, matching, and reconciliation to happen seamlessly. These solutions reduce manual intervention and improve accuracy throughout the entire reconciliation process.
“Through automating the accounts reconciliation for this client, we have gained more insights as to how this industry operates. Identifying the right solution was the greatest challenge we faced while we started working with them. We are glad that our service has helped our client to get rid of the mundane and repetitive tasks.”
Manu George Michael, Director, Difinity Digital
–from Execution Team