As-Is Process Analysis & Target Process Design of Order-to-Cash Processes at a Factoring Service Provider
Challenge
Incomplete, outdated and heterogeneous process documentation, an unclear process governance, and inefficiencies within the Order-to-Cash processes had created operational challenges and regulatory risks at a factoring service provider, an issue which had already been flagged in audit reports
Approach
As-Is Process Analysis
Review of existing audit findings and existing process documentations
Interviews & workshops with process owners
Work shadowings with operational staff
Maturity assessment of individual processes along the dimensions of Organization & Governance, Process, and IT
As-Is Process Documentation
Definition of a process documentation template & tooling, process governance, and process structure
Development of an end-to-end process map & process documentation (incl. BPMN modeling, responsibilities, risks & controls, process linkages, etc.)
Target Process Design
Synthesis of findings from the analysis phase
Collection of pain points and derivation of process-specific and cross-process recommendations with indicative effort estimates (e.g. regarding master data management, quality of submitted receipts, customer communication, address notifications, OCR recognition, plausibility checks, system automation, AML screening criteria, departmental consolidation, standardization of services and formats, etc.)
Result
BaFin-compliant process documentation and clear process governance
Implementation of initial efficiency quick wins and a clear action plan for the implementation of further recommendations