We made a visible and
measurable impact to our
client's business
Reduced invoice processing time from 10 minutes to 1 minute per invoice
Saved hours annually
Achieved an ROI of
About the Client
A leading Indian bank handling a high volume of vendor invoices. Their objective was to improve processing speed, reduce manual errors, and streamline payment workflows.
The Problem
The manual invoice processing system was slow and error-prone, taking 10 minutes per invoice. Delayed payments and inaccuracies impacted vendor relationships and operational efficiency. Previous manual solutions failed to scale with increasing invoice volume.
Our Approach
We introduced Robotic Process Automation (RPA) with IQ Bot to automate data extraction from digital invoices and integrate it into IFAMS (Integrated Financial Accounting Management System). The solution handled exceptions, ensured accurate validation, and automated payment request generation, significantly reducing manual effort and improving processing speed.
The Result
- Invoice processing time reduced from 10 minutes to 1 minute (90% reduction)
- 2,940 hours saved annually
- Achieved an ROI of ₹12.58 lakh
- Faster, error-free payment processing