Invesco Doubles Return on Investment and Saves $2.1 Million Each Year with Blue Prism
We have been using Blue Prism for three years and it has been a great journey. We have doubled our ROI each year and have scaled our spectrum of automation to include RPA, desktop automation, ALM deployment, OCR, machine learning and data visualization.”Ashish Jha Director Automation Solutions, Innovation and Capabilities
Financial management firm Invesco is passionate about delivering an investment experience that helps its customers get more out of life. And with $1.45 trillion assets to manage for customers across 26 countries, it’s no simple task. Another passion of Invesco is its continuous pursuit of performance excellence. So, to give customers the ideal experience and to meet high expectations, Invesco has been steadily and strategically transforming its business with key technologies like intelligent automation. Invesco’s win as the global 2021 Customer Excellence Award for Strategic Transformation is proof it is succeeding.
New and nimble entrants to the financial services market have increased pressure on all companies in the industry. To keep up with these modern demands, Invesco aimed to enhance operational efficiency, mitigate risk, increase compliance, and reduce costs. The company had already deployed a Blue Prism digital workforce in its back-office processes, so it looked to expand into the front office. These customer-facing roles require great dedication and thoughtful investment thesis from portfolio managers and analysts to alleviate any stress that comes with investing a lifetime of savings.
Blue Prism digital workers are now working behind the scenes to complete end-to-end tasks in Invesco’s back and front offices. In fact, the digital workforce is actively operating 165 processes in 35 business functions and sub-functions worldwide.
Invesco’s payment creation and transmission process has been fully automated using Blue Prism. Thanks to digital workers, staff successfully processes invoices on time, every time. Each day, a digital worker checks 70 different payment templates and matches invoices to applicable templates. The digital worker then validates each payment, reviews and approves it, transmits the final payment, reconciles with the bank, and closes the transaction.
On the other side of the office, a digital worker completes a daily transaction report for client services, of which there are 10,000 each month. The time to complete a daily transaction report reduced from 30 minutes to just three, saving the company 3,700 hours each year.
Having a team of digital workers to generate the reports has allowed analysts to focus on more value-added work for clients. Impressed yet? There’s more. Invesco has doubled its ROI each year, saved $2.1 million annually, and scaled its automation program to include RPA, desktop automation, ALM deployment, workflow, OCR, machine learning and data visualization.