Loihde Trust – Robotics makes financial management more efficient
Loihde Advance has implemented a robotics solution for Loihde Trust’s financial administration, where the processes of transferring orders and checking invoice lines are now carried out by a robot. These manual work phases have been laborious and time-consuming due to large volumes.
Progress of the development project
Before the project, the situation was challenging from the perspective of Loihde Trust’s finance department. Daily routine processes took a lot of time, which reduced efficiency and took resources, for example, from development of financial management processes.
In the project, financial management processes were first analyzed to ensure that robotics would best meet the needs of the finance department. For this, experts familiar with financial management processes were interviewed. Through the interviews, the causes of the identified challenges analyzed and a more accurate picture of the suitable solution was formed.
The items that were selected for robotization were the transfer of orders and the inspection of invoice lines, where volumes are large and manual checks take time. For the technical implementation, the processes to be automated and their different stages were analyzed in detail. Blue Prism technology was selected as robotization tool.
The project was carried out in close cooperation with Loihde Trust’s financial management experts. The project used an agile working method. Working on the first robot was started on the basis of quickly defined requirements. The financial administration was able to test the robot soon. Then the feedback was reviewed together and the robot was developed accordingly. As this agile working method worked well, it was used throughout the implementation project. It helped ensure that the robotics solution met the needs of financial management.
Because of the project, Loihde Trust took an interest in the wider utilization and development of robotics. The personnel was interviewed extensively and the next processes for automation were determined.