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Simplify Business Processes – Financial Services
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Simplify Business Processes – Financial Services

The client

The global finance department of a multi-national retail company who was responsible for inter-company trading. This involved setting up supplier data for all traded products, invoicing to local operating companies and calculating inter-company profit.

 

The challenge

A new Inter-Company Tracking I.T. system was being introduced to replace both the existing Transfer Pricing system and the Inter-Company Profit Tracking system. This system’s implementation meant a ‘single instance’ data entry of a price would flow directly through into the Inter-Company Profit Tracking rather than requiring two separate data entries and maintenance. The I.T. system could enable simplification of the end-to-end process but initially it appeared there would be many new workarounds and areas of complexity created. The new system would be used across over 100 different local operating companies and over 200 manufacturing sites. The I.T. system had been designed but with a fast approaching implementation deadline, there were many business processes which still had not been defined.

 

The solution

A leaner and more effective process needed to be created to successfully adopt the new I.T system. In order to ensure Go-Live would be seamless and operational teams were fully engaged, a plan was created and delivered and included the following key components:

  • Workshops with operational teams to understand current processes with existing system and recognise the level of change required.
  • Working collaboratively with I.T. subject matter experts to understand new system requirements and processes.
  • Creation of a new end-to-end lean operating process designed to minimise hand-offs, reduce complexity and enable fast reliable data flow.
  • Creation of swimlane process maps to illustrate who will perform which processes in the chain and in what sequence.
  • Training material and E-Learning for all operational users and competency assessment before Go-Live.
  • Creation of simple visual user guides for all operational users for ongoing support and guidance.
  • Creation of detailed Standard Operating Procedures, meeting all industry compliance specifications.
  • Facilitation of Pilot sessions to test business and I.T. processes before Go-Live.

 

The results

  • 100% of the 250 system users signed off as trained and competent before Go-Live date.
  • 25% less handoffs in end-to-end process.
  • Process complexity reduced considerably due to automated process flow of transfer prices and supplier costs.
  • A seamless Go-Live was achieved.
  • Considerable volume of work reduction in operational teams as half the data maintenance was no longer required.
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