We see great potential for developing intelligent automation for, among other things, accounting flows with financial statements, budgeting and forecasting.”Nina Mårvad Head of Operations Support
In Sweden, the name Riksbyggen is synonymous with property; the company has 430 locations across the country and manages 100,000 tenancy rights and 200,000 tenancies for 4,300 tenant-owner associations. When Riksbyggen made changes to its operations, it found that instead of using one bank account, it now needed 2,700 accounts. In the short term, this was being handled manually. Clearly Riksbyggen needed a more efficient solution. And it found one, thanks to intelligent automation.
Riksbyggen employs more than 3,000 staff, who are responsible for the provision of property and property agreements that affect hundreds of thousands of Swedes. In 2017, Riksbyggen made changes to its business systems and management model. Although necessary, one unintended consequence of these changes impacted how Riksbyggen managed its banking. Instead of using one Plusgiro account, it now had to use 2,700 Bankgiro accounts. This was being handled manually, as was the servicing of its 4,300 tenant associations. Making matter worse, when errors inevitably occurred, an employee had to follow up with an email, telephone call, or sometimes a face-to-face meeting. It was clear to Riksbyggen that they needed a more efficient, long-term solution.
Working with partner PS Provider, Riksbyggen explored the idea of using intelligent automation to help alleviate its reliance on manual processing. To do this, PS Provider conducted a thorough analysis of Riksbyggen’s processes. They then ran workshops that included business case ROIs to identify the most suitable candidates. Once found, Riksbyggen deployed a Blue Prism intelligent digital workforce.
Having initially targeted 10 processes for automation, today Riksbyggen has automated 55 processes and achieved impressive time savings across its business. By automating the services delivered to its 4,300 tenant-owner-association customers, Riksbyggen is saving 30,000 hours annually. And where reconciliation of balance accounts would have taken human workers 150 hours to complete, the Blue Prism digital workers need only 10 hours to get the job done. All of this has allowed Riksbyggen’s staff to refocus on adding direct value to its customers.
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