HBSI - Hayleys Business Solutions (AR) Process
HBSI – Hayleys Business Solutions is a leading provider of outsourced business services, offering finance, accounting, payroll, and IT solutions. Leveraging cutting-edge technology and a dedicated team of experts, HBSI delivers cost-effective, high-quality services, helping businesses streamline operations and drive growth.
- RPA Development with Automation Anywhere
- Financial Data Management
- Posting journal entries in the accounting system (Xero)
Compliance and Regulatory Knowledge - Reporting and Analytics
Impact
Seamless Application Integration: Facilitates integration between applications (XchangeLive/MacromatiX and XERO), ensuring smooth data flow and interoperability.
Enhanced Efficiency and Accuracy: Maximizes the efficiency of the journal entry process and transforms sales orders with 100% data accuracy.
Improved Traceability and Reporting: Enhances traceability with data in digital format and supports management reporting through daily summary reports.
Optimized Service Scaling and Employee Productivity: Scales services to handle higher volumes of records without backlogs and improves employee experience by allowing more time for productive tasks.
What was built?
Using Automation Anywhere as the platform for RPA the developments were successfully conducted where our automation solution encompasses:
A comprehensive automation system was built to streamline the Accounts Receivable (AR) process for businesses with multiple store locations. The system identifies the stores that need to be processed each day by accessing a mapping file and extracting the last posted date from the “XERO” system. It computes the required date range for downloading payment files. Store reports are then downloaded from the “XchangeLive” system for “Zambrero” and the “MacromatiX” system for “Craveable Brands” by navigating through multiple screens and inputting the relevant date range. The system consolidates these reports by running store-wise macro files for data conversion, creating a single uploadable file for the “XERO” system, and updating the process status in the database. Finally, the system processes journal entries in “XERO” by logging in, selecting the relevant store, uploading the consolidated file, validating transactions, and posting the entries. A summary report, including processed and failed transactions, is emailed to provide an overview of the automation’s outcomes.
Why was it built?
The Accounts Receivable (AR) process is crucial for businesses to efficiently manage the money owed by their customers, which includes tracking payments, sending reminders for overdue accounts, and recording received payments as Journal Entries in the accounting system.
This process becomes even more complex when managing multiple store locations, as is the case with 273 store locations. The system was built to address significant challenges such as accumulated backlogs, difficulties in making timely deposits and Journal Entries, frequent data entry errors, and insufficient information to understand the reasons for failures.
These challenges were leading to low employee morale and process satisfaction due to the high workload. The goal was to ensure timely and accurate collection of receivables to maintain a healthy cash flow, improve efficiency, and enhance overall employee satisfaction.
How the client uses it for decision / business?
The client uses the automated Accounts Receivable (AR) system to significantly enhance their business operations and decision-making processes. Prior to automation, managing the AR process across 273 store locations required four employees and 8,000 annual hours, leading to frequent errors, accumulated backlogs, and reduced process visibility. With the new system in place, only one employee is needed, primarily for exception handling, reducing annual hours spent to just 1,500. This automation has improved process visibility and error reduction to 100%, while the process execution speed has increased by 81%. The business impact is profound, with a 90% reduction in employee involvement and an 81% increase in efficiency. The client can now handle all stores without backlogs, ensuring timely and accurate collections. These improvements enable the client to make strategic financial decisions, optimize resource allocation, and maintain a healthy cash flow, ultimately driving business growth and operational excellence.
Brands we have transformed
