BPM: Beneficial for operating across borders

Often times, many companies have issues keeping up with their paperwork when growing by double digits. When a process hasn’t been created which keeps papers, documents, and bills streamlining into a smooth process for all parts of a company. If this isn’t worked out, there can be many errors, and lost papers, along the paper trail to the financial office. An example of this was recently profiled in Express Computer.

Kuoni Travel Group saw double digit growing and realized that they had to come up with a better way to manage the financial means. They turned to Newgens, a BPM solution provider that allowed them to help them organize their system. Newgen worked with Price Waterhouse Cooper in order to implement this new BPM process across all divisions of Kuoni Travel Group. The main areas that were helped by this new BPM process were Accounts Payable, Accounts Receivable and many internal-approval processes.

Here were the benefits they saw coming from this BPM process:

• By centralizing and detaching the finance function, the solution helped Kuoni to focus on its core business.
• Process transparency and efficiency came about thanks to automated task assignment, tighter monitoring and control due to higher process visibility, and easy tracking by recording the transaction trail.
• Reduced paperwork, and therefore, easier storage, routing and archival of documents became possible.
• Better sharing and collaboration of data to facilitate quick and informed decision making has been enabled.
• Reduced manpower costs resulting due to automation of tasks.
• Freeing expensive office space, which is being used to provide employees recreational facilities and for other administrative functions.
• Better risk management and compliance capabilities.