Eliminate Risk with Continuous Compliance Checks
A large manufacturing business operating across multiple countries was facing high processing costs with a high risk of non-compliance and fines. Vendor transactions and master data updates required strict validation for tax and other compliance requirements against various online government agencies. These processes involved many manual steps and was prone to human errors, with critical steps often missing in case of absent staff or staff distracted with other tasks.
The business used software robots to extract data submitted during the vendor creation and update process, including checks for duplicate vendors and bank details. The validation of compliance and tax data against regulatory websites was automated.
The automation eliminated the risk exposure, and potential fines of non-compliance, increased productivity with the reduction of manual activities, maintained a continuous process of compliance checks whilst eliminating manual errors.