Automated project code creation drives enhanced finance processing

Capgemini’s award-winning Automated Finance Code tool leverages AI to create and track codes quickly and easily to drive rapid, accurate, and scalable transaction processing.

Project codes are a critical part of an organization’s finance and accounting operations, enabling the finance function to process transactions quickly and efficiently. They consolidate transactions across multiple organizations and accounts, enabling the total costs associated with a project to be calculated.

Generating these codes, however, can be challenging.

Finance teams often receive information manually from many sources in non-standardized formats (email, Excel etc.), and also send code creation instructions, error reports, and maintenance requests to requesters manually, making the code creation process extremely time consuming.

Couple this with the need to create thousands of codes annually, is it surprising finance teams experience high turnaround times and a variety of accuracy issues in creating project codes during the month-end close period?

Leveraging RPA to automate and accelerate the code creation process

Capgemini saw this as an opportunity to develop an Automated Finance Code tool that enables codes to be created and tracked in real time. This simplifies and significantly accelerates the finance project code creation process, driving rapid, accurate, and scalable finance transaction processing.

The tool leverages a project maintenance form (PMF) to standardize information sources and formats, and highlight errors before they reach finance teams. It also uses UiPath’s robotic process automation (RPA) technology to create and maintain codes and their related master data. And by replicating bots across multiple channels and dividing the workload between them, the tool helps finance teams to address and resolve code creation volumes in real time.

Award-winning code creation technology

All of this is why Capgemini’s highly scalable RPA-based tool recently won an AI Breakthrough Award, 2023 in the “Best Robotic Process Automation Solution” category.

And for Capgemini, the tool has led to a range of tangible business outcomes, including up to 70% reduction in finance project code creation and maintenance time. No wonder it is looking to rollout the tool to its finance teams across the globe in the near future.

To learn how Capgemini helps finance teams unlock value from their finance function through next-generation, AI-augmented finance operations, contact: abhinanda.roy-chowdhury@capgemini.com