The financial services industry thrives on precision and efficiency, especially when managing contractual obligations and pricing adjustments. Deluxe, a century-old leader in payments and data solutions, processes over $2 trillion annually and serves millions of small businesses, financial institutions, and global brands. Despite its scale, Deluxe faced a significant challenge: managing pricing adjustments across a massive collection of complex legal documents.
With over 900 contracts, amendments, and service agreements to analyze, Deluxe struggled with time-consuming manual processes, which introduced inconsistencies and delayed decision-making. These inefficiencies not only hampered operational efficiency but also risked non-compliance with contractual obligations.
In search of a transformative solution, Deluxe partnered with qBotica, a trusted UiPath Platinum Partner specializing in automation and Generative AI solutions. By leveraging UiPath Document Understanding™ and Generative AI, Deluxe achieved a staggering 99% faster time-to-value, saving over 800 hours on a single pricing process.
This blog explores Deluxe’s journey, the challenges it overcame, and how qBotica’s expertise revolutionized its pricing processes. If your organization is facing similar operational challenges, learn more about qBotica’s tailored automation solutions here.
1. The Complex World of Contractual Pricing in Financial Services
Contractual pricing adjustments are inherently complex, particularly for organizations operating in the financial services industry. Deluxe, known for its robust payment solutions, found itself grappling with this complexity. Managing contracts, understanding obligations, and ensuring compliance were becoming unsustainable with manual processes.
Deluxe’s Challenge
Deluxe’s contractual portfolio consisted of over 900 legal documents, including master service agreements, amendments, addendums, and statements of work. Extracting pricing-relevant data, such as notification requirements, consent clauses, and price caps, was a tedious, error-prone process.
- Manual Dependency: Deluxe previously relied on pulling employees from their regular roles to manually read and extract information, leading to fragmented data and delayed results.
- Operational Bottlenecks: It took weeks to consolidate information, often resulting in inconsistent outcomes.
- Non-Compliance Risks: Failure to adhere to contractual terms posed risks, impacting both client relationships and regulatory compliance.
Deluxe realized that a scalable, accurate, and efficient solution was imperative to handle this growing complexity.
Why Manual Processes Were Insufficient
The financial services sector demands precision, and manual efforts simply couldn’t keep up. With increasing client demands and expanding portfolios, the company required a solution that could deliver consistent results while freeing employees for higher-value tasks.
By partnering with qBotica, Deluxe took its first step toward transforming this process. Learn how qBotica’s automation expertise addresses the unique needs of the financial services industry here.
2. Why Deluxe Chose qBotica and UiPath
When searching for a solution, Deluxe prioritized partners with deep expertise in automation and AI who could deliver quick and scalable results. qBotica stood out as a Platinum Certified UiPath Partner with a proven track record of successful implementations in highly regulated industries.
qBotica’s Tailored Approach
qBotica’s Automation-as-a-Service model was a game-changer for Deluxe. This unique offering ensured not only seamless integration of UiPath Document Understanding but also continuous identification of new automation opportunities.
UiPath Document Understanding with Generative AI
Document Understanding, powered by Generative AI, was central to Deluxe’s transformation:
- Natural Language Prompts: The ability to extract data with simple prompts eliminated the need for complex AI model training.
- Dynamic Adjustments: Teams could tweak prompts on the fly, allowing for quick adaptation to varying document structures.
- Seamless Data Validation: UiPath’s Action Center enabled employees to validate extracted data, ensuring accuracy and compliance.
Why Deluxe Chose Generative AI
Generative AI simplified a previously daunting process. Instead of training expensive models, Deluxe’s team could extract relevant pricing attributes directly by “asking” the AI what they needed. This streamlined approach provided insights within hours instead of weeks.
If your organization struggles with unstructured data, discover how qBotica’s Generative AI solutions can help here.
3. Revolutionizing Pricing Adjustments with Generative AI
Deluxe’s pricing adjustments were transformed through a meticulous process that combined automation, AI, and human expertise. This implementation, led by qBotica, set new standards for speed, accuracy, and efficiency.
Implementation Process:
- Document Analysis: UiPath Document Understanding analyzed and processed over 900 documents, extracting data points such as pricing caps, consent requirements, and notification clauses.
- Generative AI Prompts: Simple, conversational prompts directed the AI to identify and summarize specific contractual terms.
- Validation Through Action Center: UiPath Action Center enabled human validation, ensuring the extracted data was accurate and ready for use.
- Scalability: The solution was deployed rapidly, moving from PoC in March to full production by April.
Game-Changing Efficiency
- Pricing attributes were identified in seconds, allowing the team to make data-driven decisions without delays.
- Extracted data was consistent and consolidated, reducing the risk of misinterpretation.
By integrating Generative AI into its workflows, Deluxe saved over 800 hours and achieved unprecedented consistency. Explore more about qBotica’s AI-powered automation solutions here.
4. Key Results and Business Impact
The results of Deluxe’s automation journey speak volumes about the transformative power of AI and automation.
Key Metrics Achieved:
- 99% Faster Time-to-Value: The time required to extract and analyze data was reduced from weeks to mere hours.
- 800+ Hours Saved: Manual processes were replaced by AI-driven workflows, freeing up valuable resources.
- Consistent Data Governance: Improved data accuracy allowed for streamlined governance processes and faster approvals.
Employee Empowerment
By automating repetitive tasks, employees were empowered to focus on higher-value activities, leading to:
- Enhanced productivity.
- Greater job satisfaction and reduced burnout.
Scalability Across Operations
The solution’s flexibility allows Deluxe to expand automation to other critical areas, such as billing, invoicing, and customer onboarding.
To see how qBotica helps organizations achieve similar outcomes, visit qBotica’s success stories here.
5. Lessons from Deluxe’s Journey
Deluxe’s transformation offers valuable insights for organizations embarking on similar journeys:
1. Partnering with Experts is Crucial
Choosing an experienced partner like qBotica ensures smooth implementation and maximum ROI.
2. Generative AI Simplifies Complexity
With natural language prompts, Generative AI eliminates the need for expensive, time-intensive training, making it accessible to all teams.
3. Automation Augments, Not Replaces
Human oversight through tools like Action Center ensures quality control, blending AI and human expertise.
4. Build for Scalability
Solutions must be flexible to adapt to evolving business needs, as demonstrated by Deluxe’s plans to expand automation across operations.
To learn more about how qBotica can guide your organization’s automation journey, visit qBotica’s Intelligent Automation page.
6. Broadening Automation Across Deluxe Operations
Deluxe’s success with pricing adjustments has inspired the organization to broaden automation across its operations. The immediate focus areas include:
- Billing and Invoicing: Automating these processes to reduce manual errors and speed up financial operations.
- Customer Onboarding: Streamlining onboarding workflows for faster implementation and improved client experiences.
Scaling Long-Term Opportunities:
- Predictive analytics for pricing strategies.
- AI-driven market trend analysis to anticipate and adapt to customer needs.
To explore how automation can transform multiple areas of your business, visit qBotica’s Solutions page here.
7. The Road Ahead for Deluxe and Beyond
Deluxe’s partnership with qBotica is just the beginning of a long-term journey toward operational excellence. By scaling its automation solutions, Deluxe aims to set new industry benchmarks in efficiency, compliance, and customer experience.
Future Aspirations:
- Expand Document Understanding to all document-based workflows.
- Explore new AI-driven strategies for customer-centric services.
- Continue collaborating with qBotica to discover and implement innovative automation opportunities.
Learn more about how qBotica supports organizations in achieving their long-term goals here.
Conclusion
Deluxe’s partnership with qBotica exemplifies how automation and AI can transform even the most complex workflows. By saving over 800 hours and achieving a 99% faster time-to-value, Deluxe has set a new standard for operational efficiency and scalability.
If your organization is ready to revolutionize its operations, partner with qBotica today. Explore their offerings here.
