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’s services in Spain and Portugal lever a very high volume of payments for parking services daily. 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. It is a high-volume, low-value task that requires high levels of staff time (20,000 records at peak times), resulting in less time available for dedicated monitoring, analysis, and identifying discrepancies between items.
Until now, Telpark had not found a solution in the market that could automate the task to the standard they required.
Concerned about the lack of efficiency in 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 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:
In addition to the direct savings, Telpark has seen a number of added benefits, such as streamlining tasks and eliminating low value-add tasks.