Case Studies – An in-depth look at working solutions
LarcAI will be making various case studies available in the coming months to highlight the types of problems various companies have, and the solutions we are able to put in place to assist and improve overall quality of work, reduction in man hours, and increased revenues.
In this particular case study, high volumes of email are received from the Hollard Insurance Company’s broker base, and other relevant parties. These needs to be indexed and processed in the Document Management and Workflow systems. The mundane and manual process to read, understand, classify, enrich and process this communication is very time consuming.
The primary driver for the decision to automate this process was not to replace staff, but to use the existing staff more effectively and to enable higher efficiency and prevent backlog.
These processes were automated using UiPath Robotic Process Automation (RPA) technology with Artificial Intelligence and Machine Learning using LarcAI expertise.
Notable benefits obtained include, saving in processing time of around 2000 hours per month, cost per transaction reduced by 91% and user experience improved drastically just to name a few.
Case Studies – Curo | Brief Overview
Curo CEO, Barri Maggott, commented that: “As a business we are really pleased with the results of our RPA implementation … and we are thrilled at how quickly we have been able to see tangible results
LarcAI delivered a competent robot process automation solution using UiPath software attaining 54% increase in efficiency and overall effort displacement of 35% for Curo Fund services. This was achieved by automating pricing information extraction, consolidation and updates from emails and files received in addition to supplementary information sourced daily. The solution delivers mission critical updates to portfolio management systems responsible for deriving daily closing positions which is inherently a high risk function.
The primary drivers for automating these time consuming processes are to mitigate operational and compliance risk by reducing errors and managing backlog, whilst improving overall efficiency. Failure to deliver on-time and accurate processing exposes the business to significant fines and penalties which is avoided due to the effectiveness of the LarcAI robotic solution.to name a few.
Case Studies – Maitland | Brief Overview
Maitland is a global legal, fiduciary, investment and fund administration business. One of the offerings provided through the Fund Services business is the daily calculation and publishing of Unit Trust prices. This process consists of multiple steps and requires price updates to be published ahead of strict market deadlines. Many of these steps are manual and labor intensive, whilst the last key step requires the review and validation of the fund class Net Asset Values (NAV).
This prompted the investigation into finding innovative solutions to reduce this risk. In partnership with LarcAI, a boutique South African company specialising in Robotic Process Automation, Artificial Intelligence, and Machine Learning, Maitland embarked on a Robotic Process Automation journey/project.
To date, Maitland has successfully automated the NAV processes for 500 of the 700 funds and have plans to automate the remaining 200 funds in the foreseeable future. This resulted in significant business benefits for Maitland, including improved staff morale, efficiency and quality.
This success story enabled Maitland to develop a deep automation pipeline and the establishment of an RPA Centre of Excellence (COE) currently consisting of five dedicated people. The COE is currently automating between 12 and 15 processes per month. LarcAI continues to support Maitland to bolster capacity to meet business automation demands.