Case Study
American Semiconductor Manufacturer Saves 2700 Hours Annually with 80%+ Touchless Processing using Intelligent Automation CoE
Download Case StudyIndustry: Semiconductor, Manufacturing Company
Key Technologies: UiPath, Oracle EBS, Service Now,Jobvite
A Silicon Valley-based leading semiconductor manufacturing company faced challenges with manual processes in finance and HR, including handling 18,000 invoices annually and managing over 1400 vendors. These manual processes led to inefficiencies, high operational costs, and errors. Jade Global implemented Robotic Process Automation (RPA) and Intelligent automation services to streamline these processes. The results were remarkable: a 92% reduction in invoice processing time, 2700 hours saved annually, and significantly improved productivity and accuracy across finance and HR functions.
About the Client
Our client is a leading semiconductor manufacturing company in Silicon Valley and is a supplier of high-performance electronic components used in high-voltage power-conversion systems. Their energy-efficiency technology has prevented billions of dollars worth of energy waste and millions of tons of carbon emissions.
Business Challenges
Client faced several significant challenges in its accounts payable (AP), accounts receivable (AR), and human resources (HR) processes:
- Large Teams with Manual Dependencies: The AP team of 15, the AR team of 5, and the HR team of 7 were heavily reliant on manual processes, leading to inefficiencies and high operational costs.
- High Volume of Manual Invoice Handling: Processing 18,000 invoices per year manually created delays and increased the likelihood of errors.
- Extensive Vendor Management: Managing over 1400 vendors manually added complexity and increased the potential for mistakes in the supply chain.
- Costly and Error-Prone Operations: Manual processes led to high operational costs and frequent errors, affecting overall financial accuracy and efficiency.
Business Requirements
Semiconductor manufacturing client aimed to achieve a high level of automation through the digital workforce with the following key requirements
- Achieve Visibility and ROI Tracking for CFO and Business Sponsors Across the Organisation
- Implement Touchless Processing of Accounts Payable Invoices in Oracle EBS
- Automate the Extraction of Data from Both Digital and Scanned Invoices
- Perform 3-Way and 2-Way Matching and Insert Non-PO Invoices
- Capture Anomalies in the Data and Notify Relevant Stakeholders
- Automate the Processing of Accounts Receivable (AR) Cash Receipts in Oracle EBS
- Enable Touchless AR Invoice Uploads to Various Customer Portals
Our Approach and Solutions
Jade Global addressed their challenges by implementing a robust automation solution:
- RPA and OCR Implementation: Deployed a digital workforce using UiPath RPA and Intelligent OCR capabilities for high-accuracy data extraction
- Automated Invoice Processing: Automated extraction and entry of invoice data with continuous management and monitoring
- Automated Cash Receipt Processing: Extracted cash advice data and identified cash receipts for reconciliations, ensuring ongoing accuracy
- Touchless AR Invoices: Enabled touchless AR invoice uploads to various customer portals
- Streamlined Onboarding: Implemented touchless onboarding for HR users and contractors
Business Benefits and Outcomes
Jade Global's automation solutions delivered significant benefits and positive outcomes with:
- 92% Reduction in Invoice Processing Cycle Time Processing invoices became significantly faster, leading to quicker payments and improved vendor relations
- 90% Reduction in AR Cash Receipt Cycle (8 hours to 10 minutes) The AR cash receipt cycle witnessed a dramatic improvement, translating to quicker cash flow and improved financial health
- 80%+ Touchless Processing Achieved a high level of automation, significantly reducing manual efforts and associated errors.
- Cost Savings on Software Licences Reduced the need for licenses for Zoom, Power BI, and Salesforce
Download Casestudy
Check out our AI & Intelligent RPA Any Others Services
Related Section
