Our client needed a solution to automate their monthly account reconciliation process to accelerate their close, increase productivity and improve accuracy.
To optimize the human workforce, RGP – along with our technical alliance partner – designed and developed an innovative virtual workforce solution to automate thousands of monthly reconciliations across multiple geographies.
What We Did
- Designed a robotic process automation (RPA) solution with a human-first approach.
- Automated reconciliations using a virtual workforce to complete manual and repetitive tasks.
- Identified additional workflows that could be automated, optimized and standardized.
- Let accountants retain control over how and when reconciliations are prepared.
- Harnessed the power of client collaboration to implement a solution that increased account reconciliation from 50% to 95%.
- Increased capacity for accountants to engage in more valuable analysis work.
- Reduced time to complete month-end reconciliation by reconciling over 4,000 accounts in less than half a day.
- Improved accuracy and positively impacted financial reporting metrics with an adaptable solution.