Business process outsourcing (BPO) partner Arvato has secured a two-year agreement with Fremantle to use automation technology to transform the media company’s finance department.
The arrangement will see Arvato roll out its ProcessAutomate solution, which combines the business’s media sector expertise with robotic process automation (RPA) technology, to deliver an end-to-end managed service agreement for Fremantle. This will include the set-up, optimisation, maintenance, monitoring and reporting.
Headquartered in London, Fremantle is one of the largest and most successful creators, producers and distributors of scripted and unscripted content in the world. From Got Talent to My Brilliant Friend, The X Factor to The Young Pope, Idols to American Gods, The Price is Right to The Apprentice and Neighbours – they are behind the world’s most-loved and most-watched shows.
The agreement follows a successful pilot for two of the business’s financial reporting processes, which cut the time required to produce hedging analysis for the London based divisions and monthly producer share reports for each of the 30 territories in the company’s network by 82% and 99% respectively. This will result in saving Fremantle over 300 hours per year in manually processing reporting data on these two processes alone.
Fremantle says the introduction of automation technology, which will also ensure 100 per cent accuracy, will play a key role in helping it leverage innovation to streamline the data gathering and analysis process.
The new contract represents an end-to-end managed service agreement which will include the set-up, optimisation, maintenance, monitoring and reporting. The technology works by using software to create an agile, virtual workforce able to mimic human processing of repetitive, labour-intensive tasks. It follows rule-based business processes and interacts with systems in the same way that people do.
Andrew Bott, CFO at Fremantle said: “Our partnership with Arvato will play a central role in transforming our financial services operations. Our people sit at the heart of what we do and this technology will not only help us in streamlining our reporting processes, but give hours back to our teams by removing the burden of data gathering. The pilot project produced significant results for our business and so we’re looking forward to working with Arvato to explore more processes and making further improvements.“
Debra Maxwell, CEO at ArvatoConnect, said: “Businesses are focusing on how they can deliver big gains in productivity by making small, incremental changes to their operations. Technology is providing the answer and our partnership with Fremantle shows how a managed RPA service with the right partner can transform back office processes, without the need for infrastructure investment. We’re excited to see the efficiencies we can deliver in other areas of the business.
Arvato is a trusted partner to both the public and private sector, providing RPA solutions that enable back-office teams to make transformative efficiency savings across their operations.
Also part of the Bertelsmann Group, the business employs 1,500 people across eight locations in the UK and has more than 50 years’ experience in designing and delivering innovative, individual solutions for some of the most respected global consumer brands.