Fortune 50 e-commerce company achieves 5X increase in team capacity and 75% reduction in AHT
A Fortune 50 e-commerce organization had a challenge lowering its average handling time for its reconciliation process within the FinOps business unit. The team leveraged Soroco’s Automation Suite to not only automate 98% of all transactions but increased the number of transactions handled each month by 5x.
Fortune 50 E-commerce Company
Financial Operations | Reconciliation
The reconciliation process is critical for any FinOps team since these statements can represent billions of dollars in financial transactions. This process, however, required high manual intervention and had a high average handling time. As a result, the team could only manage 6,000 statements per month and had to prioritize statements of higher transaction value.
The team now uses Soroco’s Automation Suite to leverage normalization that uses heuristics to pull in the relevant data corresponding to each transaction invoice number. Soroco also created a more effective exception management system that automatically rectifies any issues or notifies the right stakeholder for further action.