As part of a productivity initiative, the GBS team at one of the world’s largest pharmaceutical companies was tasked with implementing process improvements and automation to enable a $2 million cost reduction. Starting with five global Account-to-Record (A2R) teams, they needed to understand how employees performed the month-end close process, determine why productivity targets weren’t being met, identify inefficiencies, and discover intelligent automation opportunities.
“Mimica’s task mining gets you down to the level of detail of what’s happening on the desktop, so that you can truly understand and optimize your full end-to-end process.” — Executive Director of GBS Digital Services
Mimica identified hundreds of tasks and recommended improvements
With Mimica, the team was able to uncover savings opportunities and inefficiencies that had not previously been considered. After capturing the work of 50 employees, Mimica identified hundreds of tasks being completed in the month-end close process. Of those tasks, many were unnecessary. Mimica highlighted three types of improvement opportunities: automation, optimization, and elimination of waste.
Mimica enabled $400,000 in savings in just the first month
The GBS team discovered that over thousands of hours per year were spent on manual reconciliations, inputting unique commentary in their treasury management software, and other repetitive, high-touch tasks. After eliminating unnecessary activities, the team was able to rapidly implement intelligent automation solutions. This included using GenAI to replace manual commentary on transactions and updating workflows to reduce the number of manual bank reconciliations — saving thousands of hours annually. The essential tasks were mapped and automated, enabling the team to save thousands of additional hours — achieving $400,000 savings in a single month. This allowed them to immediately achieve 20% of their annual savings target for 2024. After further analysis, an additional 42,000 hours of annual savings were identified for future optimization.
