- MillenniumIT ESP is the winner of the Information Technology category under Case Studies
MillenniumIT ESP – Sri Lanka’s leading Information Technology solutions provider – won the SLASSCOM RPA 2020 award for submission of Case Study under the Information Technology category. The SLASSCOM (Sri Lanka Association of Software and Services Companies) RPA Conference 2020, during which the award was presented, was held virtually over a three-day course in December 2020.
MillenniumIT ESP’s winning RPA solution was a ‘Purchase Order Validation and Invoice Creation Process’ case study with proven ability to convert the same into a commercial solution. The company had chosen its own business environment as its test environment for the proposed case study: As an IT firm which plays a leading Systems Integrator role in the industry, MillenniumIT ESP receives multiple invoices for purchases of services, hardware, software, and support services from vendors. As per the company’s internal process, the invoices are required to be entered into an Enterprise Resource Planning (ERP) system and there were 3 resources from the Finance Department partially allocated for the invoice creation task in the ERP system. While creating the invoices in the ERP system, it is required to validate the invoices (each line item) against its respective purchase order prior entering the same into the system. This is a rule-based task which required a significant amount of productive human time from the Finance Team members. Key challenges identified during this process included the number of days taken to reflect an invoice in the ERP system since its receipt date, the human errors that occurred while entering the data into the system which then took a considerable amount of effort to rectify, and the significant productive time wasted in validating each line item of invoices against purchase orders.
MillenniumIT ESP proposed a software robot (Bot) that connects to the email account to which invoices were sent to, downloads the PDF invoices and extracts the relevant fields by using OCR technology. It then searched for the purchase orders raised within the ERP system and validated each line item of the invoice against the same. In addition, in case of a discrepancy, the Bot highlighted the issue and sent a notification for manual validation.
After the Bot’s implementation for Purchase Order Validation and Invoice Creation Process (RPA solution), MillenniumIT ESP gained several positive business outcomes including invoices being created in the system on the same day they arrived, any discrepancies raised in invoices or purchase order being captured and escalated within the same day, no human errors (such as typos, delays or missed entries) during the invoice creation process, validation of line items in invoices against purchase orders being 100% accurate, release of 2 employees from the routine invoice creation task and their reallocation in value addition tasks for the organization, and standardizing the purchase order validation and invoice creation process to adhere to an internal SLA 93% (7% for discrepancies).
At the SLASSCOM RPA Conference 2020, MillenniumIT ESP’s Senior RPA Consultant Danura Lunuwilage who has over 4 years of experience in the field of RPA technology and trends, also carried out an interesting session on ‘Supercharged RPA’ where he shared his knowledge on ‘Next Generation Intelligent Digital Workforce’. The company was also a Silver Sponsor of this successful event.
MillenniumIT ESP is one of Sri Lanka’s leading Information Systems solution providers delivering IT solutions to several industries; including Banks and Finance Companies, Telecommunications, Apparel and Manufacturing, Healthcare, Leisure, Construction, Transport, Agriculture, Government, Public Sector and other leading conglomerates. Solutions provided by MillenniumIT ESP include Core Infrastructure, Enterprise Applications, Cyber Security, Smart Buildings and Operations, Managed Services, Intelligent Automation and Data, and Cloud. MillenniumIT ESP is a subsidiary of Ambeon Holdings PLC, a conglomerate reputed for its market dominance in the areas of financial services, manufacturing, real estate, technology and strategic investments. The company has built several global partnerships with leading firms including Oracle, Microsoft, IBM, Dell, Hitachi, Cisco and Infosys. It has also received numerous excellences, innovation and performance-based awards across various markets for its services around the globe. For more information, visit www.millenniumitesp.com