Clearing Factoring Payments

A client of ours, an international pharmaceutical group, faced an operational challenge in accounting when factoring in payments. The company commonly used factoring services for most of its revenue. The downside was that they had to match credit transactions with invoices manually. Each time, a specialist had to go through every item in a bank statement and match it with an invoice from a particular client. Due to the volume of transactions, the process was slow and the ERP system also performed inadequately.

Solution

To solve this challenge, a software robot was developed based on the UiPath platform.

The robot performed daily checks on whether there were new bank statements from a factoring institution in the ERP system. If a new statement was found, the robot would process each of the statement’s records with a description matching the details of an invoice. The processed data was then fed into the ERP system.

Additional checks were made with internal databases to identify the number of customers and branches that were revenue centers for that particular invoice.
Using the robot saved around 30 working days per year for the company and limited the number of postings that were delayed.

  • 30 days

    of specialist's work saved per annum

  • smaller delays in postings

Contact us

We will get back to you within 24 hours.

Let's talk