Casestudies | Manufacturing | 01.06.15
Industry: Consumer Durables (White goods)
• Automation of manual processes
• Improvement in productivity along with
Real time visibility of improved cash flow
Enhanced customer satisfaction, elimination of dependencies and increased billing accuracy
The client faced challenge in timely receipt and allocation of payments from the customers due to dependence on manual processes. Due to the absence of one-point drop location, there were multiple discrepancies in identifying the correct customers which increased the turnaround time resulting in delayed dispatches to customer. This further had an adverse effect on the cash flow & working capital which reduced their ability to spend or invest in the progress of the company in a structured manner.
Our client is a global giant and one among India’s largest consumer durable companies.
A team of process experts were identified from 1Point1 to work on the solution with the sales team of the client. After a detailed assessment of the problem areas, the team recommended that virtual account codes should be assigned to all customers which would help the bank track payments. The bank would send an email detailing the payments received on daily basis using the virtual codes. These files were updated onto the ERP system for auto allocation of funds to the respective customer accounts.
- A centralized, automated system increased productivity benefits enabling real time information on cash flow
- Enhanced billing accuracy through online accounting of receipts which in turn assisted in using the cash flow for the company’s growth.
- Enhanced customer satisfaction through a 24/7 web enabled system of track payments and dispatches
- Improved billing accuracy, reduced revenue outflow and reduced cost of billing
- Increased productivity by 80% due to automation
- Facilitated a smooth running and dispatch of material owing to the decreased accounting time from 5 days to 1 day
- Standardized collecting and accounting process which helped eliminate the dependence on the manual process