Transforming the Contract-to-Cash process lifecycle for a leading US finance-tech provider
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About the client
Our client is one of the leading finance technology providers to the United States community banking and credit union market. Through its core banking platforms, its proprietary credit union solutions, and its enterprise payment solutions business, the company supports thousands of financial institutions with the systems that run their deposits, payments, lending, and member servicing. Over half a century, our client has been pivotal in the finance industry by offering a comprehensive range of capabilities that help their clients achieve success and growth in today’s highly competitive business landscape.
Business challenges
Our client’s finance operations such as billing, invoice operations, and payments relied on fragmented, manual high-volume workflows patched together over time rather than engineered as a single unified system. Because manual work was distributed across the entire contract-to-cash process, isolated point solutions were ineffective.
To modernize the infrastructure, Aspire Systems was selected as the technology partner to address three following critical bottlenecks:
- Operational inefficiency
From contract & billing updates to pricing churn & renewal administration, routine requests arrived through fragmented channels such as emails and spreadsheets. Fulfilling these high-volume requests consumed a substantial share of the team's bandwidth, leaving limited time for strategic analysis. - Data privacy risks
The manual intervention of processes posed several data security risks across operations. Data analysts were writing directly into systems of record, where a single mistyped contract number or misread status triggered severe downstream consequences for billing accuracy and revenue reporting. For instance; the Pending-Billing-and-Revenue-Plans process alone required a team of 15-person to manually apply conditional logic across various contract management systems. In addition, critical workflows like fraud case reporting relied on risky third-party integrations, where manual errors such as minor misconfigurations and network downtime could silently prevent essential customer communications taking place. - Compliance vulnerabilities and audit breaches Within compliance and auditing procedures, there was no reliable system to monitor data alterations or attribute user-specific justifications. Hence, the traceability gap was posing compliance risks that could turn into penalties and regulation issues.
Our approach and solution
Our automation specialists began by examining where the finance function was actually losing time and effort. Working alongside the client's process heads, our team mapped the flow of work across finance operations, identified the points at which volume, handoffs, and manual validation created bottlenecks, and assessed each candidate-process against a consistent set of criteria: transaction volume, rule stability, exception frequency, and the systems it touched. That assessment produced a prioritized pipeline that is designed to establish a connected chain running from contract creation through to cash collection and audit through 47 automated workflows.
Our experts established a unified control model on Automation Anywhere structured around process volume, rule stability, exception frequency, and system touchpoints. To ensure rapid value delivery and technical consistency, we organized 47 automations across five interconnected operational domains, directly targeting the three core business bottlenecks. By treating these domains as a cohesive ecosystem, we ensured that this modular strategy dismantled the client’s operational debt across the three critical areas of the client’s finance operations:
- Contract and Master Data
- Pricing, Billing and Communications
- Audit and write-off
Business outcomes
- Automating the contract-to-cash process lifecycle reduced annual expenses by over $1M increased operational efficiency through automated contract-to-cash process. Approximately saving $1 Mn per month.
- Real-time financial reporting, compliance, and auditing reduced compliance risks.
- 100+ contracts per day saving 40 hrs./month over 90% increase in accuracy, saving approximately 8 hours per week, faster bill processing, and enhanced compliance
- Improvement in billing accuracy by 90%
