Business Requirement:
Tate & Lyle had to align the delivery of short term financial targets in parallel with the longer term stabilisation plan. The client utilised Thornton Hope’s client support services to supplement collections resource across 20 European countries following global transformation projects and SAP implementation. This involved a review of the current state of the OTC process in their global shared service centre in Poland.
Thornton Hope had the perfect mix of expertise and experience to deliver. By taking a practical, results-focused approach to this project we were able to use our breadth of strategic and operational expertise skills to ensure quick visible sustainable improvements. By combining this with a strong partnership approach we were able to integrate ourselves into the team, work collaboratively to overcome cultural barriers and focus on the end goal.
We achieved the following:
- Reviewed all Credit Control policies and procedures.
- Installed a consultancy team in Poland for 10 months.
- Reduction in overdue debts from 36% to 12% in 4 months.
- Quickly and professionally identified the challenges of the EMEA shared service operation.
- Implemented a targeted approach with clear daily metrics and KPI’s across OTC.
- Gained visibility of the AR status.
- Identified priority areas for improvement.
- Focused on finding sustainable solutions for the business.
- Reviewed the entire credit control process.
- Identified innovative solutions to improve results.
- Shaped the team so they were fully prepared to work in new ways.
- Supported the team throughout the business transformation project.
Improvement Project Deliverables:
- We left a lasting legacy that has enabled continuous improvement in the OTC process and performance.
- Improved credit risk management and increased sales.
- Vastly improved internal communication resulted in improved team morale, less staff absence and more stable team.
- Developed excellent productive working relationships with the Senior Management Team and Board members, breaking down barriers between management and operational teams.
- Managed bespoke training programme to enable the team to embrace the new improved OTC processes.
Tate & Lyle said:
“I have no hesitation in recommending the Thornton Hope consultancy team to any organisation interested in achieving greater efficiencies from their Order to Cash process.”
Gerry Niven, Global Shared Services Director, Tate & Lyle
