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Streamlining Financial Operations: Automating Bank Statement Download, Merge, and Cash Position Reports

Legacy State

10 mins for Bank Statement (~400 Accounts)

Automated State

~ 5hrs  for all Accounts

Challenge: Previously, daily bank account statements were manually downloaded for each account, resulting in a staggering 10 minutes per bank statement. With more than 400 accounts, this process consumed a significant amount of time and introduced the risk of human errors. Furthermore, preparing master statements for every account for an entire month proved to be an arduous task, often leading to delays in generating accurate cash position reports.

Solution: To address these challenges, we leveraged Automation Anywhere 360 to automate the bank statement download, merge, and cash position report generation processes. Our RPA bot was designed to perform the following steps:

  1. Bank Account Access: The bot autonomously accessed each bank account, ensuring secure and controlled access to sensitive financial information.
  2. Statement Download: The bot downloaded statements for each account, retrieving the required data for every date.
  3. Business Requirement Modifications: Using VB macros, the bot made necessary changes to the downloaded statements as per our business requirements, ensuring data accuracy and consistency.
  4. Statement Merge: The bot merged all modified files into a single master statement, simplifying the consolidation process and saving valuable time.
  5. CPR Report Generation: Our RPA bot generated Cash Position Reports (CPR) for each bank account in the required format, facilitating comprehensive analysis and decision-making.
  6. Iteration and Notification: The bot iterated through the process for all bank accounts mentioned in the Config File, ensuring thorough coverage. It also sent a transaction log and business exceptions notification to the relevant stakeholders, enabling prompt action and issue resolution.
  7. Daily Automation: Our bot performed this automated task every day, ensuring consistent and timely delivery of accurate cash position reports.

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