Client background
A well established, forward- thinking corporate credit union serving over 1,400 members in the United States, with over $2.2 Billion in assets.
The business challenge
The corporate credit union strives to continuously increase the efficiencies of their internal operations and provide enhanced, innovative services to their credit union members.
They had many manual processes that required data entry across multiple systems via complex spreadsheet uploads. They wanted to leverage robotics process automation (RPA) but were unsure which processes to select for the greatest return on their investment of RPA technology. They were looking to achieve the following from implementing RPA:
- An RPA use case road map to assess and prioritize potential use cases
- Improved process time and transparency
- Process optimization, accuracy and standardization
- Improved member experience
The Baker Tilly approach
Baker Tilly provided its proven intelligent automation use case selection process and implementation approach and guided the credit union through the following activities:
- An assessment of automation use case candidates that included process mapping, business case development and use case prioritization
- Development of an ROI model to set targets for the cost, time and labor savings for each use case
- Facilitated requirements gathering sessions to compile workflow details and developed optimized future state processes with automation
- Creation of an implementation roadmap that included future automation opportunities
- Facilitated a Center of Excellence (CoE) workshop to enhance the credit union’s understanding of the purpose, benefits, alternative CoE governance models and implementation best practices
- Development and implementation of three RPA solutions
The business impact
The three RPA solutions that were developed and implemented supported the following business processes: government fraud/risk compliance, checks and wire transfers and monthly member reports. The outcomes achieved were:
Improvements in staff time and productivity:
- Elimination of human error related to data input and spreadsheet uploads
- Average of 70% time saving with attended RPA solutions
Increased process efficiency and member experience:
- Removed the need for manual creation and uploading of complex data files
- Real-time data transfer across systems enabled faster processing of requested wire transfers
