3 Ways Value Creed’s In Your Corner: Reason #1
Delivering Quality Client Services in a Dual-Time-Zone Model It is the aim of the Value Creed team to outperform the rest by delivering on the
How a Major Petroleum Company Uses Value Creed’s CTRM Business Process Outsourcing for Their Invoice Backlog and Needed Fixes
The Main Challenge
A major petroleum company ran into bandwidth issues when moving between their existing CTRM platform and a new vendor. Our team had already been providing ad hoc services in data entry—however, Business Process Outsourcing (BPO) could bring the company’s goals to fruition more rapidly and effectively, and at a lower cost, by supplementing existing teams rather than replacing them.
Key Results
ZERO
Payable voucher backlog reduced from 700 in just 30 days
3 days
to reduce months-long vendor implementation issues
30 Minutes
to reduce invoice generate process from 4 hours
Business Process Outsourcing Solutions
Payable Vouchers Backlog Reduced
- Our BPO team stepped in to not only handle the payable vouchers, but to validate and make adjustments as needed within their system.
- This backlog was cleared within the month thanks to our 24/7 service model.
Facilitating The CTRM Transition
- Our BPO team leveraged their experience with CTRM upgrades to get the transition finished within three days.
- This included fixing pre-existing code to reduce the invoice generation process from 4 hours to approximately 30 minutes.
Meeting The Documentation Needs
- the existing vendor lacked any documentation for their systems, leaving little direction for in-house teams.
- With less than 2 hours of onboarding training, the company’s in-house specialists got our BPO team up to speed on their internal workflows.
Key Takeaways in Implementing BPO
The Business Process Outsourcing team worked alongside the company’s internal team to expand their capabilities and extend their needs. For this reason the in-house and BPO staff enjoy working together, sharing resources, ideas, and solutions that solved problems in minutes and implemented long-term solutions in days, not months.
Value Creed Services Mobilized:
Business Process Outsourcing
Business process outsourcing utilizes our staff with a deep knowledge of CTRM services to handle complicated, routine, or custom tasks for a client’s business. BPO members know their processes inside and out, enabling them to run vital services and handle crucial processes without disruption to your business..
Run Smart™ Expertise on Demand
An experienced team and sophisticated technology combine to deliver feature-rich functionality and operability. You pay only for the services you need when you need them.
Recommended Resources
Learn more about how business process outsourcing adds value to your company in our blog series: “3 Ways Value Creed Is In Your Corner:”
3 Ways Value Creed Is In Your Corner: Reason #2
How To Proactively Overcome Reporting Integration Failure for CTRM Platforms You may be able to manage and maintain your CTRM infrastructure, application enhancements, and reporting
3 Ways Value Creed Is In Your Corner: Reason #3
Dual Time Zone Monitoring: Problems Solved Overnight When your trading day ends, you need to recharge and prepare for another hectic session tomorrow. The last
Let Your Internal Teams Focus on What They Do Best
Value Creed’s BPO experts bring efficiency to your CTRM
Your IT team does its best work on challenging, creative tasks, centered around their key talents. Our Business Process Outsourcing experts can handle routine tasks and automate whatever’s standing in the way of your business objectives.