We’re working on progress. Not just for Finance, but for all of us!”
Bill Collins, Finance Director Performance Coatings
Finance is changing. This impacts all of us, so I’m glad to share with you the progress we’re making in Performance Coatings.
People ask: “why change?” Much of our growth has been achieved through mergers and acquisitions. This led to complex ways of working, with multiple accounting systems and many different processes. We were operating as a bunch of small companies, rather than as one global company. This was an expensive and inefficient way to run a business, so something needed to change.
To combat our inefficiencies and high cost structure, AkzoNobel decided to outsource transactional activities to a third party supplier. This is in line with our Global Business Services (GBS) strategy and for Finance it means outsourcing accounting activities, like accounts payable and accounts receivable. Our search for a Business Process Outsourcing (BPO) partner led us to select Infosys, a global BPO organization that services Fortune 500 companies all over the world. We’re pleased to have joined forces with them, working closely with their teams in Pune (India) and for multi-lingual services, in Lodz (Poland).
Decorative Paints was the first Business Area to move to this outsourcing model. In September 2014, Performance Coatings began the process of outsourcing transaction activities, starting with Europe and North America. Our employees have been instrumental in documenting procedures and transferring knowledge to Infosys, despite knowing that their positions will be eliminated once the transfer is completed. I’m humbled by the level of professionalism and support that we have received from our teams thus far, despite knowing the probable outcome.
Our new way of working impacts all of us. The use of standard operating procedures removes some of the flexibility we have enjoyed in the past. Previously, suppliers could be paid without a purchase order, but now the ‘no P.O. no PAY’ rule is to be strictly followed. Under our former processes, orders could be released for customers who hadn’t paid existing balances. Our new credit management processes allow shipments only when the customer’s account is current.
Strict adherence to AkzoNobel standard processes doesn’t mean that entrepreneurial spirit is lost. On the contrary, as we adopt standard ways of working we have more time to focus on innovation, customer satisfaction and generating profitable growth. Ultimately, our customers and suppliers will benefit.
Thankfully, we’re starting to see progress. Standardization is reducing complexity, duplication and inconsistency. Our costs are decreasing, and we’re transforming our Finance function into a leaner and more cost-effective organization. As those teams that have gone through the transition know, our program is a journey and a challenge. It affects all employees and I invite you to join us. We realize that it’s still a work in progress, but if we work on progress together, I’m confident that we will succeed.
Stay tuned for more information regarding
We’re working on progress. Not just for Finance, but for all of us!”Bill Collins, Finance Director Performance CoatingsFinance is changing. This impacts all of us, so I’m glad to share with you the progress we’re making in Performance Coatings.People ask: “why change?” Much of our growth has been achieved through mergers and acquisitions. This led to complex ways of working, with multiple accounting systems and many different processes. We were operating as a bunch of small companies, rather than as one global company. This was an expensive and inefficient way to run a business, so something needed to change. To combat our inefficiencies and high cost structure, AkzoNobel decided to outsource transactional activities to a third party supplier. This is in line with our Global Business Services (GBS) strategy and for Finance it means outsourcing accounting activities, like accounts payable and accounts receivable. Our search for a Business Process Outsourcing (BPO) partner led us to select Infosys, a global BPO organization that services Fortune 500 companies all over the world. We’re pleased to have joined forces with them, working closely with their teams in Pune (India) and for multi-lingual services, in Lodz (Poland). Decorative Paints was the first Business Area to move to this outsourcing model. In September 2014, Performance Coatings began the process of outsourcing transaction activities, starting with Europe and North America. Our employees have been instrumental in documenting procedures and transferring knowledge to Infosys, despite knowing that their positions will be eliminated once the transfer is completed. I’m humbled by the level of professionalism and support that we have received from our teams thus far, despite knowing the probable outcome. Our new way of working impacts all of us. The use of standard operating procedures removes some of the flexibility we have enjoyed in the past. Previously, suppliers could be paid without a purchase order, but now the ‘no P.O. no PAY’ rule is to be strictly followed. Under our former processes, orders could be released for customers who hadn’t paid existing balances. Our new credit management processes allow shipments only when the customer’s account is current. Strict adherence to AkzoNobel standard processes doesn’t mean that entrepreneurial spirit is lost. On the contrary, as we adopt standard ways of working we have more time to focus on innovation, customer satisfaction and generating profitable growth. Ultimately, our customers and suppliers will benefit. Thankfully, we’re starting to see progress. Standardization is reducing complexity, duplication and inconsistency. Our costs are decreasing, and we’re transforming our Finance function into a leaner and more cost-effective organization. As those teams that have gone through the transition know, our program is a journey and a challenge. It affects all employees and I invite you to join us. We realize that it’s still a work in progress, but if we work on progress together, I’m confident that we will succeed.Stay tuned for more information regarding
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