Industry
Utilities
Geography
Australia
Client
One of Australia’s fastest-growing utility service providers with over 700,000 customers across the country.
The remittance, quite simply, is the transfer of money by a customer for a certain product or a service user. Fundamentally, the concept seems quite simple and easy to understand. However, when one delves deeper, there are certain nuances that one would need to pay attention to. Especially, when a company or an organization is dealing with several sources of remittances.
When it comes to utilities in Australia, the process is quite simple. An invoice is generated from the utility supplier with a due date mentioned on the invoice. Following this, the customer makes a payment based on the value to be paid on the invoice. In the case of SMEs or a Business-to-Business transaction, the process is slightly stilted.
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Remittance process for small & medium enterprises
- An invoice is raised by the energy supplier (Infoveave client) for the consumption for the month.
- The invoice is generally a per facility invoice. For instance, a company could have multiple facilities within the same city. If a single business or an SME has three centers, there would be three invoices generated; one for each center.
- However, while there would be multiple invoices generated, the payment would come from a single source.
- After making the payment, the finance wing of the company would raise a Remittance Advice (proof that the payment has been made)
- The Remittance Advice is usually sent via email to the energy supplier as proof of payment made. The advice is sent either as a PDF, Excel Sheet, or as an email with confirmation that the payment has been made.
The above-mentioned process would seem rather simple and straightforward. However, while dealing with hundreds and thousands of payments and on a daily basis, the process becomes rather monotonous.
The process was also prone to errors, especially due to the monotonous and boring nature of the work to be done by a human. And, with the AR/AP process to be done for several customers, the process done by a simulating agent would take several hours. However, with Infoveave’s RPA, here is how the process was automated.
Why use an RPA?
- A trained RPA bot is capable of executing boring and rule-based tasks.
- Save capital by deploying a bot that can complete a string of tasks.
- Performing tasks that are prone to human error.
- Completing these tasks in a time-bound, effective, and efficient manner.
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