Financial Accounting Process Outsourcing Operation Excellence Study-Account Payable Process Of T Engagement Of C Company

As the key service of business process outsourcing, financial process outsourcing are facing more and more pressure of how to increase customer satisfactions, improve service level in terms of productivity efficiency and quality, as well as how to cost down continuously.First of all, through the case study of Account Payable process of T engagement to specifically fixture out few existing problems which are negatively impact on operation management, including lacking of inaccurate data measurement system, lower productivity, low quality level, and higher cost compared to competitors. In order to solve these problems, this article clearly identified quantified metrics to improve productivity and quality, as well as cost down operational overhead. And after detail analysis to operation process, quality and quality control perspectives, took few containment actions accordingly by using of tools and methodology learnt from MBA, consists of value stream mapping, project management, process optimization, and etc. From operation perspective, we setup the data measurement system to monitor and track operation performance, and trigger abnormalities at the real time, it is really benefit to provide right improvement direction. From process optimization perspective, we change operation management from country based to process based after process reengineering in order to minimize reporting lines and make a flat organization, which are really helpful to improve manpower utilization and overall effectiveness. Besides, few lean six sigma project and automation implemented to standardize and simplify process, and make process more value added with waste elimination; From quality improvement perspective, in order to improve delivery quality, we make process more robust and error proofing after few automation project implementation, all defects can be detected at the real time and take immediate preventive actions; And, in order to cost down operation overhead, Grade Mix and Variable Pay projects were implemented as well; Finally, building up continuous improvement culture in the engagement to sustain improvement results. After taking all actions above, productivity, quality and cost are significantly improved.This article illustrates can be a reference for industry that how to conduct operational excellence on financial process outsourcing, in terms of approach, problem solving skill.