Enhancing Order Delivery-to-Cash Collection Reconciliation Efficiency

Problem Statement

In the existing manual process, reconciliation of Buy Now Pay Later (BNPL/Credit) transactions, Cash collections & sales delivered data management & reconciliation posed a significant challenge for the organization. The BNPL team, Cash Operations, and Finance Department independently collected and reconciled data at the end of each business day. Discrepancies in orders, cash collections, and sales quantities were common, leading to a time-consuming and cumbersome reconciliation process. Dependencies on multiple teams and the manual nature of this process led to delays and debates over discrepancies. These challenges resulted in prolonged efforts, substantial time consumption, and operational inefficiencies.Write your text here...

Core Hurdles faced by Business

Offline Files

Data management relied on offline files, leading to challenges in real-time collaboration, version control, and data consistency. Working with disconnected files made it difficult to maintain accuracy and ensure that all team members were working with the most updated information.

Person Dependencies

The workflow relied heavily on specific individuals, causing delays and disruptions when these individuals were unavailable or overloaded with tasks. This dependency created bottlenecks in the operational process

Data Management Issues

Handling large volumes of data without a centralized system resulted in disorganized records. Lack of a structured data management approach led to inconsistencies, making it challenging to maintain data integrity and accuracy.

Daily Bandwidth Constraints

The daily reconciliation process consumed significant bandwidth, diverting resources from strategic tasks. Limited bandwidth hampered the team's ability to focus on proactive initiatives and instead required extensive resources for routine data reconciliation.

Error Handling Difficulties

Errors in data reconciliation were common and resolving these discrepancies was time-consuming. The absence of an efficient error resolution mechanism led to prolonged debates and discussions, hindering quick decision-making and issue resolution.

Addressing these challenges was crucial for streamlining operations, enhancing collaboration, and improving overall efficiency within the team. The implementation of the analytics dashboard aimed to eliminate these hurdles, fostering a more efficient, collaborative, and error-free work environment.

To get into solution details, you first needs to understand the complete order delivery cycle and different steps of delivery person followed for cash collection in his daily duty. Below assumption diagram will illustrate the business process from order delivery cash collection from different spot along with the expenses and system dependencies on different levels.