Customer Story: Worflow process automation for Factoring
BACKGROUND
BNP Paribas Faktoring is a company based in Poland, with its head office in Warsaw. Its principal business is factoring payment receivables from its clients that need to improve the timeliness of repayments from their debtors.
OPPORTUNITY / CHALLENGE
For what projects/services did your company hire Execon, and what were your goals?
We wanted to improve, automate and monitor the credit process in the company.
SOLUTION
How did you select this vendor and what were the deciding factors?
We chose Execon because we were satisfied with the delivery of the two previous projects and as such we had a built a trusting relationship.
Describe the scope of work in detail, including the project steps, key deliverables, and technologies used.
The Workflow project is one of the largest projects in the area of process automation at BNP Faktoring. It covers the credit process leading to the credit decision for our clients. Work on the project began with familiarizing the vendor with the business processes.
Based on the data analysis, the MVP was defined, i.e. the process for new customers and the most common product. In the first iteration, a dashboard was made that aggregates tasks and information. Then, work began on creating a customer search engine.
These two features were the scope of the first development stage. The next stages consisted of creating forms for sales employees, necessary to obtain data about the client. During the works, integration with external systems was performed, which automated some activities in the process.
Subsequent stages assumed the performance of further procedural steps, ending with a credit decision. Each of these stages was accompanied by mailing to the users involved in the process. The functionality for automatic document generation was also delivered. This completed the first phase of the project.
The next step was to expand the product range and provide the possibility to apply for more than one product simultaneously. The next update was based on adding more factoring processes, such as reviewing the existing contract, changing the terms of the contract and increasing the limits for existing factoring customers.
RESULTS & FEEDBACK
Can you share any measurable outcomes of the project or general feedback about the deliverables?
The system enables the processing of factoring applications which supports the key business process on our client’s side and includes a number of integrations with external systems.
Users have the opportunity to prepare a complete application based on data obtained from clients (entering data, importing contracts, attaching documents) and carrying out a risk assessment.
At the end of the process, a factoring decision is generated, in accordance with the defined template of the decision document. The big advantage is the in-built logic that verifies the compliance of the application with the internal credit policy of BNP.
The digitization of the process allowed BNP’s employees to move away from many complicated Excel and word formats and transfer their work to a coherent system where they can place all customer data.
Describe their project management style, including communication tools and timeliness.
We participated in scrum events. The communication was really good, and their responses were always quick. The team was focused on our needs.
What did you find most impressive or unique about this company?
The vendors communication with us throughout the project.
Are there any areas for improvement or something they could have done differently?
Despite the different communication platforms, the information flow was smooth.
