Telpark is a leader in the parking and mobility sector in Spain and Portugal, and a leading international company.
With a presence in Spain, Portugal, Andorra, and Turkey, Telpark is responsible for more than 419,000 parking spaces that facilitate the movement of 150 million people every year.
Telpark: Automating a reconciliation process with over 330,000 transactions per year
Business Problem
Telpark’s services in Spain and Portugal manage a high volume of payments for parking services daily—handling 20,000 records at peak times. Each payment generates an individual sales transaction associated with data collected by its control equipment and parking meters.
The reconciliation process is a vital part of the company's financial management, directly linking its revenue collection to revenue streams. But the high-volume, routine task required high levels of staff time, resulting in less time available for strategic monitoring, analysis, and identifying discrepancies between items.
Telpark did not find a solution on the market that could automate the task to the standard they required.
Appian Solution
To improve the efficiency of its reconciliation process, Telpark worked with Deloitte Intelligent Processes to consider options for streamlining and modernizing reconciliation.
The solution that Deloitte and Telpark's finance department developed on Appian to optimize the reconciliation process perfectly coordinates human and robotic efforts in a unified workflow.
The joint effort of Deloitte and Telpark for this automation initiative has quickly demonstrated its impact on the business:
- Between Spain and Portugal, the solution is handling around 330,000 items annually.
- Around 70% of items are reconciled in an automated way using a set of around 2,300 business rules.
- People only have to focus on around 30% of cases that cannot be reconciled by the robot. As a result, the team can spend more time on analyzing the root causes of discrepancies and evolving the process by defining new reconciliation rules.
In addition to the direct savings, Telpark has seen a number of added benefits, such as streamlining tasks and eliminating low value-add tasks.
Learn more.
Telpark and Bank Reconciliation Automation. Read the case study and understand how 70% of items are reconciled in an automated way.
