Challenge

The multinational bank's automation center was struggling to identify and prioritize suitable automation opportunities within the group that reviews and reconciles rejected/returned funds. The company had a team of 20 full-time resources manually processing ACH rejections and other exception cases, but lacked a complete understanding of all the involved steps. They aimed to enhance their requirements-to-deployment cycle time and post-deployment quality while exploring the potential of new technologies like process mining and document understanding to leverage in their operations.

“Thinking beyond the low-hanging fruit, we knew more of our processes could be automated. But after a few false starts we weren't sure where to refocus.” - Automation Opportunity Advisor‍

Solution

The automation center embarked on a transformative journey when deploying Mimica task mining recorders on a group of 6 SMEs, constituting 30% of its team. Over 2 weeks, Mimica meticulously captured every action performed by these individuals on their computers. Leveraging the power of AI and Machine Learning, by the end of this period, Mimica achieved a significant milestone - a comprehensive understanding of every task the employees were executing, effectively identifying those tasks that were most suitable for automation. Furthermore, Mimica efficiently generated Process Definition Documents (PDDs) outlining the existing process flow, which proved invaluable to the automation center's developers in expediting the bot development process.

Among the 24 tasks identified, 5 were highlighted by Mimica as highly automatable (based on signifiers such as repetition, structure, and rule-based logic), presenting an immense opportunity for efficiency gains. The generation of PDDs was automated for these 5 tasks, streamlining the documentation process and ensuring a seamless transition towards automation. The identified tasks were as follows:

  1. Change Posting Rejects
  2. Exception Items
  3. Lost/Stolen/Compromised
  4. FEDACH Return
  5. Check Query
“Plain and simple, Mimica is the only one we tried that actually works. The others dumped a ton of data and screenshots on my BAs.” - Director of Process Improvement‍

Results

Mimica helped the company identify and then automate 74% of their ACH Exception handling. Within 2 weeks, Mimica reduced time-to-deploy across discovery, design, and development phases of RPA deployment by 65%. The PDDs of the as-is that captured every variation and exception in the process were handed to the development team that delivered the automations 40% faster than usual due to completeness of the documentation. Not only did this unlock $888k of automation value for the company, but it helped scale the automation center's program, enabling more automation with the same resources.

“This is incredible. The Mimica team must be rocket scientists." - Senior Automation Opportunity Advisor

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