Case Study: a leading financial institution achieves faster, error-free tax compliance and reconciliation with 3Pillar and UiPath

a leading financial institution saves tens of millions and 10,000 hours with 3Pillar Global

The customer, a leading financial institution, faced significant challenges with its manual tax compliance and reconciliation processes. The Tax Compliance and Quality Assurance team was responsible for depositing $1.5 billion annually in IRS withholdings, a process prone to human error that resulted in a $35 million mistake in a single year. To eliminate these costly errors and streamline operations, the institution partnered with vendor 3Pillar Global.

3Pillar implemented a solution using the UiPath robotic process automation (RPA) platform to automate the bank's tax processes. This automation handled data capture, merging, and report generation, completing tasks within strict SLAs and intelligently prioritizing work. The solution had a measurable impact, saving the bank tens of millions of dollars by avoiding penalties and reclaiming nearly 10,000 hours of work annually. It also enhanced accuracy, allowing the team to generate over 14 error-free reports in seconds.