Energy, Oil & Gas
About the Customer:
Our client is a Scandinavian company providing a host of engineering, construction, and maintenance services to the oil, gas, and offshore wind industries.
With financial reporting being one of the core business functions of our client, the process of information collection is a vital yet error-prone task that requires a lot of time and human input. The oil & gas service company was utilizing a standard financial reporting approach by using SAP, Power BI reports, and Excel spreadsheets for data collection and comparative analysis.
Time-sensitive and accurate reporting was becoming more challenging for employees to complete under tight deadlines as it required fast action and accurate results. The company addressed Infopulse to optimize and automate the financial reporting process with the help of an elegant and efficient RPA solution.
The Infopulse team developed an RPA solution that successfully automated the monthly financial reporting processes’ workflow of the service company by transferring data from the SAP web application and BI reports to the preapproved Excel template.
The customized robots have liberated the company’s employees from performing routine and repetitive tasks. What’s more, data collection and analysis now take place overnight, which considerably unloads the systems’ capacity and makes it possible to access compiled reports in the morning for further processing.
The technical side of the automation solution mirrors the functional elegance of these personal assistants’ functionality. The actions of the robots are tracked and logged to the orchestrator. The data collection process is triggered by the specified number of items in the queue, which prompts the robot to perform its processes. In the case of a robot malfunctioning, an automated notification is sent to a developer with a detailed error report.
The RPA bots’ functionality includes:
- Getting the indicators’ values by opening the corresponding page in the application, going through the authorization procedure, and indicating the period of interest
- Highlighting every type of discrepancy in different colors
- Reconciling indicators for the previous period during the preparation of financial statements
- Sending an e-mail to a customer about the successful process completion
By automating manual and repetitive tasks with software robots, the oil & gas service company has managed to redirect employees’ valuable time and effort towards strategic assignments. RPA solutions benefited all aspects of the financial reporting process by reducing human errors and increasing overall productivity, the value of which can be summed up in the following points:
- Optimized monthly financial analytics (MFA) finalization
- Eliminated manual, error-prone processes
- No need for overtimes, extended shifts, or double effort to deal with repetitive tasks
- Reduced overhead costs
- Improved process productivity and quality
- 12 weeks a year saved for each of the 6 FTE involved
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