What we did - our role and activities
- Established that root causes for performance were due to organisational gaps in accountability, a lack of consistent practice, systems communications issues and measurement to track source errors and manage advance payments.
Activities and Deliverables
- Confirmed that an alternative CRM system, Salesforce, could fill gaps in communication around receivables. Developed and designed new functionality with internal team.
- Identified, confirmed and agreed new responsibilities for each stage of the end to end process between operations, production, shipping and finance. Completed awareness training and developed reporting to reflect roles and responsibilities.
- Alongside system and process development, completed a debtor reduction programme to establish a reduction in old overdue debt, regular focus on disputed issues and a structured approach to collection based on value and cash flow.
- Established a global approach to terms for documentary payments to reduce delay and presentation for payment issues.
- Developed and introduced comprehensive training, procedures and reporting guides across the business.