CASE STUDY: Making finance workflows digital

The Chemical Company

A French multinational chemicals company, one of the world’s largest supplier of industrial gases and has operations in over 80 countries. The Financial Shared Services Centre in Asia processes over 300,000 requests per year related to 49 finance processes.

Challenge

Paper applications were submitted to local Finance teams by applicants from different locations. Tracking, coordinating and managing the received documents throughout the paper-based approval process was tedious and time consuming. No systematic control over approvals, no visibility of approval status, chances of wrong approvals, long waiting times and excessive processing were some of the operational challenges in the process.

Objective

Transformation from a paper based process to highly collaborative, highly connected digital enterprise. Regardless of the location, size of documents, or number of approvers, business needs to have a systematic management plan in place which manages and monitors the workflows more efficiently.

Solution

Using ServiceNow® App Engine and Enterprise Service Management capabilities, created a single, easily accessible online platform with auto accounting in ERP system using several digital workflows such as payment, reimbursement, invoice processing, GL posting, fixed asset transfers, legal contracts, etc. The digital workflows automate the approval process based on DOA matrix, and then interfaces with ERP to seamlessly complete the tasks.

Accomplishments

• Forms, digital workflows, notifications and all components built to support multiple languages across Asian countries, including Japanese.
• Orchestration of work internally across teams, as well as with external parties such as suppliers and contractors.
• By automating the system, documents are organised and sent to respective approvers based on complex DOA matrix.
• Tickets are managed more efficiently, with built-in data validation, and automation rules such as excel parsing to auto-update GL.
• Users have clear visibility which helps them to track any discrepancy or data manipulation during the approval workflow.
• 100% elimination of defects and document getting lost or misplaced.
• Streamlined processes across countries and entities.
• Template – based rollout of new processes to onboard countries onto the digital workflows platform.