Client is one of the leading food manufacturer in Europe with a mission to deliver great quality food to its group of customers.
Despite many efforts to streamline its operations, client was struggling with working capital issues, productivity and cost efficiency. As a result, our we also discovered inefficiency in cash management process. our team of experts studied the client's industry and competitors to understand the market trends and benchmark cash conversion cycle, credit terms, cost structure and productivity against all its peers. End-to-end analysis of the finance function unveiled huge manual effort going into data entry, data correction and reporting. Multiple systems were in place which had different schematic representation of customer data. A common data schema which flows through multiple systems end-to-end was a major lack. Swivel chair processing was being done manually. Remittances posted by client’s customers came through multiple channels and its tracking required manual effort. Cash management suffered as employees were occupied with data entry and corrections and had less time to track and report account receivables. As a result, alarming working capital management issues cropped up, resolving which was a challenge for the client.
We identified the manual interventions and touch-points which qualify as potential automation opportunities and did feasibility analysis from costing and efficiency point of view.
The entire automation exercise led to a lean and optimized reporting process which was data backed. Future automation opportunities could now be identified easily due to streamlined processes in place. New system now enhanced and provided a seamless user experience. Resources locked in redundant processes were freed to be utilized in other value-added activities.
We had some problems in terms of heavy and labor intensive manual processes and we needed to free up capacity to deal with new business work which was coming in. Working with Zensar, we realized, they really were the partners who could do that for us. The dedication, commitment and focus from Zensar to help us deliver was fantastic." – CIO