Through its strategic partnership with Monstarlab Philippines, Ricoh will utilize the tech’s firm product called RAX Editor, a Robotic Process Automation (RPA) Tool that allows users to automate manual processes flawlessly across different applications and environments through assisted automation (interaction between people and its virtual agents is required) or unassisted automation (no human control is needed).
RAX Editor is specifically targeting to improve Ricoh’s billing cycle, which includes meter billing, finance lease billing, product and service billing, sales order billing and delivery receipt printing. Automating the billing cycle means less overtime for employees and opportunity to do more valuable work rather than tedious repetitive work.
“Some parts of our operation have to put in a lot of overtime in order to get things done. This is especially true in our accounting department where some processes are not fully automated by our ERP. With RPA, we can automate manual and repetitive processes. We expect this to allow our employees to spend more time doing analytical work or communicating with our client.” Eric E. Sulit, Ricoh Philippines Inc. President and CEO said.
Average manual processing to bill meter reading is around 22 minutes per transaction. By using RPA, Ricoh is expected to save 47% of the total time to bill each transaction (after reviewing detailed process). On top of this, the billing accuracy will also be improved and in addition, the company is expected to save at least one day of the total turn around to send the bill to the customer. This is an additional improvement in terms of reduction of days to collect thus helping to improve cash flow as well.
Reducing the processing time by 47% means reduction or total elimination of overtime for the billing staff or reduce the need to add billing staff in the coming years in relation to the increasing the number of transactions.
“Ricoh Philippines has been tremendously growing their business but wanted to retain the same workforce. With RAX software’s help, the automation can help them achieve that. ” Monstar Lab Philippines’ Managing Director Allan Tan explained.
Monstar Lab Philippines, is a local subsidiary of the global digital product development firm Monstar Lab group, specializing in bespoke enterprise-level projects. Monstar Lab Group has over 1,200 employees across 15 countries and 26 cities.
“We are glad to partner with Ricoh to bring the best of automation that our product RAX can offer. We are proud of our global support and the power of our software. . Plus, the price is friendly to Philippine companies. We believe that it is now the best time to embrace automation for the Philippines companies,” Tan added.