By employing Infoveave, the client was able to measure the factors impacting pricing. Infoveave also provided an end-to-end solution to the problem at hand and much more.
Infoveave’s module allowed to connect to sources of data. This helped to fetch all the information on prices, models, and dealers. This also includes competitor data to compare against their prices. The What-If Analysis module configured the pricing algorithms within. This includes over 40+ variables that determine the price.
The user can run the scenarios within the What-If Analysis & Goal Seeking. Scenarios had different combinations of State, Model, Dealer, Vehicle Type, Fuel Type, Color. Infoveave also does a single-step goal seeking. By which the user can set an optimal goal price and work backward to arrive at the component prices.
Once completed, the price that best fits the need gets stored back into the data source. This forms the new baseline for prices and all the simulations that follow. The Address Book feature of the Reporting module ensures on-time delivery of reports. This report that reaches all 200 + dealers is precise and with no information overlap.
- The bot is trained to scan the Invoice ID and Invoice Number for each invoice uploaded onto the system.
- The bot also had access to the Remittance Advice email sent which contained proof of payment made by the customer. The bot is trained to read files that are either HTML attachments, PDF files, or Excel files.
- The bot is trained to match the Remittance Advice to all the invoice IDs that have been cleared so that there is no discrepancy as to who has made the payment. This is especially effective when it comes to multiple invoices cleared by a single source.
- The RPA bot is then trained to enter the portal to verify the payment to make sure that the invoice amount reflects on the bank statements.
- Should there be any discrepancy at any stage of the process, the bot would flag the Invoice ID for any further verification. For instance, if the payee has forgotten to send the Remittance Advise following the payment, an automatic email is generated to the customer requesting the relevant document. The Infoveave RPA bot has been trained to do the same.
Following the deployment of the Infoveave Remittance RPA bot, the client was able to:
- Save previous time on processing each invoice and invoice ID.
- Verify payments using the Invoice ID, the portal, and the bank statement. A manual process would have seen two to three humans execute a task such as this.
- Reduce the need for a simulating agent
- Reduce human error
- Retain customers as a consequence of reducing human error.