UI Modernization of Accounts Payable System

Our client is a globally integrated provider of investment advisory services, specializing in real estate, corporate equity, credit, and other financial assets. With a focus on delivering exceptional financial solutions, the client required modernized systems to enhance operational efficiency and streamline payment processes.

Friction Points

• ‍Limited Capacity: The legacy application processed only 8,000+ payment requests, limiting the client’s ability to scale operations effectively.
• ‍Inefficient Email Processing: Payment request approval and rejection emails were prone to errors, reducing trust and operational reliability.
• ‍Complex Processes: Outdated workflows and modules caused inefficiencies, delaying approvals and payment processing.

Solution

Global Accounts Payable Platform:

• Developed a unified platform to handle payment requests and approvals, ensuring scalability and seamless workflows.

RL Modernization Assessment Model:

• Conducted an in-depth assessment, audit, and analysis of the client’s existing systems to identify gaps and inefficiencies.

Simplified Business Processes

• Recommended and implemented process simplifications to streamline workflows and improve operational efficiency

Module Modernization:

• Upgraded key modules, including Transfer Requests, Third-Party Master Data Management (MDM), and Payment Provider Integration, completing the transformation within 18 months.

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Impact

• ‍Increased Payment Processing: Successfully processed 13,000+ payment requests through optimized workflows, compared to 8,000+ in the legacy system.
• ‍Error-Free Email Handling: Processed 18,500+ payment request approval/rejection emails with 0 errors, a significant improvement over the 12,000+ emails handled in the legacy system.
• ‍Enhanced Operational Reliability: Simplified processes and modernized modules ensured seamless integration and improved user experiences.