Vendor Contract Renewal
Industry - Media sector
Implementation Time - Within 3 WEEKS *
Key Challenges
Having large volumes of contracts and validating the details manually for renewal was costing the business a financial waste.
Some of the key challenges were:
- The process volume was high with multiple FTEs working on it.
- It requires to validate the details of the vendor and accordingly renew the contract.
- Manually renewing a contract is a highly time-consuming task.
- High turnaround time due to human dependency and their time limitation.
- In the process, human errors are highly possible.
Our Solution
To deal with such issues an RPA solution was designed to automate the process by looking at renewal dates on contracts that will automatically renew.
- The bot reads mails and download vendor detail input sheet and template.
- The bot generates the contracts in word and updates the relevant details in the template.
- Bot convert contracts into PDF and signed them digitally.
- The bot mails the contract to the vendor in predefined mail format.
Automation Benefits
Our customer on automating the process has various benefits with the use of software robots.
- Degree of robotization: 100% of effort automated.
- The rate of error decreased to 0%.
- Manual effort reduced less than 5%.
- Faster processing time
- Increase in the data security
- Increase in employee morale.
