Global Paint Manufacturer Saves $1 Million by Optimizing its Order To Cash process
Updated: Aug 10, 2022
A global paint company with more than $8.3 billion in annual revenue wanted to identify flaws in its end-to-end OTC cycle. A sluggish or complicated OTC process can result in lost revenue, lost customers, reputation damage, and even compliance issues. Through process mining it was possible to identify and eliminate sales order changes, streamlining payments collections and identifying the hidden potential of standardization, the company was able to realize $1 million in savings.
Root Causes & Solutions
Improve Customer Satisfaction
It was found that the slow credit check step increases the average time case duration. delivery. Automating a major part of this step helped. Order changes were also causing a lot of delay. The root cause was mostly the proper product information and its consistency across all channels. .
Reduce Order Cancellation Rate
It was found changes in delivery date were the reason for most of the order cancellation. With automation any delay or change in delivery date can be identified immediately and corrective actions can be taken to avoid or minimize any order cancellation.
Identify and avoid unusual process:
Unusual process deviations were identified such as ‘delivery before order’ and ‘delivery without invoices’ which hurt the financials. Through automation any process deviation was reacted immediately upon.
Return on Investment
Minimized by elimination of sales order change and delivery date changes
Standardization of process unlocked
Automating credit check and streamlining payment process
Elimination of unusual process deviations
Contact us today if you want to increase productivity and improve optimization with process mining along with identifying opportunities for automation.