Tax filing entails a variety of tasks, including the processing of records, the extraction of data, computations, and appropriately feeding them. It's a difficult challenge to do all of this with high precision and speed.
The following is a synopsis of our success in automating tax e-filing
Our customer is a
century-old tax firm that processes thousands of records of individuals and partners for
e-filing and other related tasks
Human errors in tax compliance
Increase in cycle time for tax calculation
Decrease in accuracy
Unable to handle high volumes
Human resource crunch
Changepond, with its expertise in financial automation, conducted an in-depth process analysis and came up with several insights and inferences.
With that information available, the points of improvisation were addressed through intelligent automation.
The Changepond’s automation brought several benefits.
Increase
the processing
capacity by 2X
Increase
in efficiency
Saving
60% of work
Doubling Capacity
to process records
Improving
UX improved
Assuring
Security
"Enterprises can quickly make headway on their digital optimization initiatives by investing in RPA software, and the trend isn't going away anytime soon. RPA removes the inconsistencies of human performance and consistently delivers accurate results. According to Gartner's research, human error within the finance function produces, on average, 25,000 hours of avoidable rework at a cost of $878,000 per year." - Gartner
"Companies that fail to invest in RPA are missing automation opportunities. The automation of repetitive tasks can make human employees more productive." - Forbes