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Testimonial

“The go-live of automated Anti Money-Laundering reporting marks the beginning of many RPA projects, that will for sure change the way we work. This is a happy day especially for me. I’ve dedicated approximately 5 hours every month and it is just amazing to see that the robot do this report in just under 3 minutes.”

– Sherwin Molina, Internal Controls Specialist Richemont UK

Background

Since 2021, Proservartner have been working with one of the world’s largest luxury goods companies to digitise their finance departments across Europe. The focus has been on utilising RPA technology to remove repetitive, mundane work, enable process standardisation and allow people to focus on value-added tasks. 

Key Challenges

Each Richemont Market is decentralised, resulting in a wide range of different sytems and ways of working across Finance. This has created complexity, waste and delay, also making it difficult to manage Richemont accounting activities as group.

To improve this Richemont has been looking to emerging technology tools including RPA (Robotic Process Automation) to make a step change in Finance processing.

Approach To Delivery

Proservartner is working as technology and process transformation partner for Richemont to tackle this challenge. They have led Richemont through the whole RPA journey from initial ideas to delivering value-adding robots. The initially project identified 91 potential automation candidates, and then prioritised the top 7 for this engagement.

At the start, Proservartner ran RPA Masterclass sessions with the client finance community across Europe. Following on from this, a two-stage workshop approach engaged with each country – firstly to review and challenge the potential for process automation, and secondly, process stream led workshops to bring the whole decentralised finance community together to jointly determine and prioritise the transformation roadmap.

Once the automations required were identified, Proservartner worked to design, build, test and deploy the robot automations, using its tried and tested methodology and UiPath RPA software. The automations are being deployed across the European finance function, and potentially globally.

At the heart of this work has been the development of standard processes. The approach involved Proservartner initially working with experts from a few of the Markets, and once the future process was drafted, doing fit-gap analysis for wider regional requirements.

Outcomes

The overall outcomes of the programme are to reduce manual effort, and improve reporting quality, efficiencies, and compliance – and make it easier to do further automation.

So far 2 automations are live already, releasing 726 hours per year. Some aspects of the process are being accelerated by a factor of 100. The first full phase of automation and process improvement is expected to save over 8,000 hours per year and this is just the beginning of the digitalisation journey.

Proservartner have helped demonstrate the potential of automation, helping to build momentum for wider process improvements across the region. Proservartner’s best practice approach to RPA is a solid foundation for scaling automation as RPA and other technologies are deployed to other geographies, and other departments beyond finance

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