Approvals processes are vital to every part of your business, helping to govern processes in Finance, Procurement, Sales, Operations, and HR. However, the business applications that power your approvals processes are extremely complex and difficult to access, introducing significant delays in each process.
The challenge is that the business applications that house the approvals workflows are difficult to access, tied to computers and VPNs, and require navigating multiple screens in order to perform the approval. Since many managers spend most of their workweek away from the corporate office, the time delay to access the right system to conduct the approval can be hours or even days. With some approvals requiring numerous different approvers, the organizational drag is compounded and the impact can be costly. On the following pages, you will read about three companies that are keeping up with the fast pace of business by delivering mobile micro apps to simplify and consolidate approvals.
Volvo Financial Services enhances their competitive advantage by accelerating the customer quoting and approvals process by 60%
For Volvo Financial Services, providing customers with the right finance options for their trucks, buses, and equipment throughout 44 countries, in a timely manner makes or breaks the sale. When a potential customer needs financing, they want to know as soon as possible how much can be borrowed and how fast the credit can be approved, which is why they reach out to multiple suppliers at once to provide bids. Speed-to-quote and the right financing rates give them a competitive advantage.
The crucial advantage for Volvo Financial Services is to be able to respond to the customer with an accurate approved calculation and turn it around very quickly. “Speed is paramount these days,” says Adrian Samareanu, CIO, Volvo Financial Services. “It’s about removing complexity in our systems and processes to help the business deliver better value to our customers.”
Volvo Financial Services’ internal process includes quick calculations and simulations on quotes, a pricing approval process, a credit application process, and a final approval process. These fine-tuned processes are managed out of systems that are more than a decade old - built before mobility was a thought let alone a requirement. Volvo Financial Services needed to simplify the complex applications used for the calculations and approvals and speed up the overall customer booking process - from quote origination to credit approval to contract management - while enabling its sales team and managers to keep the process going while on the road.
Volvo Financial Services was able to deliver quick, task-based mobile workflows that leverage their existing systems. They created a micro app for quick calculations, and one for price authorizations that allows the commercial team to instantly approve even if they’re on the road, via their smartphone. By focusing on the task-based mobile micro apps, Volvo removed the complexity of their existing systems, enabled push notifications on mobile devices, and saw a 60% increase in the speed at which the sales reps deliver financing quotes to their customers.
RPC Compresses Approval Times by a Factor of 4 to Enable Real-Time Financial Compliance Reporting
RPC is a publicly held oilfield services company. In any given week, the company has employees working at hundreds of sites completing and maintaining oil wells. To carry out the work, employees need significant amounts of materials. For instance, one well alone can require two million pounds of sand. Approving the vast amount of POs can be a nightmare for managers who spend their time in the field away from their computers.
These purchase orders need to be recorded for SOX compliance. Managers would often wait until they had several approvals to do and they would do the approvals in the evenings and on weekends when they were in front of their computers. One district manager, whose division at the peak ran $45-$50 million in revenue per month, spent 33 hours in one month approving over 800 POs. “We needed to be able to capture PO approvals when managers are in the field,” says Kent Lyon, VP of Finance for RPC. “The administrators in the company are used to PeopleSoft. It’s not quick, not easy, so field managers resent using it. We need to make it as simple to use for field managers as shopping online.”
RPC was able to arm their managers with a mobile micro app for approving POs. The micro app simplified the approval process and leveraged notifications for a single list of approvals with the ability to respond with a swipe. The intuitive mobile app had immediate adoption and required no user training. Approvals that once took more than two minutes to do in PeopleSoft, now take 30 seconds from the field – a 4X improvement in time savings.
Titan Machinery Enhances Business Agility and Ensures Higher Margins by Mobilizing Key Approvals
Titan Machinery is one of the largest dealers of agricultural and construction equipment. Titan sells new and used equipment at its retail stores, and has a services division for fixing and maintaining the heavy machinery. Like many companies trying to keep up with the competitive pace of business today, Titan is going through a digital transformation effort.
To help the business be more agile and efficient, Titan has mobilized many processes from its ERP system, Oracle JD Edwards, by transforming the workflows into micro apps – quick mobile one-minute apps. “Any task that took us longer to login to JD Edwards and navigate to the appropriate screen than to actually perform the task at hand, needed to be simplified,” says Rick Keller, Director of Business Applications at Titan Machinery. For in- stance, approvals. While approvals are typically considered a quick task, they were time intensive, as managers needed to log in to the system, navigate through the screens, and then approve. The operational drag slowed down the tasks and ultimately, the business.
Titan was able to simplify and mobilize two key approvals processes used regularly by regional managers. The first approval micro app was for inventory requisitions. Since the equipment Titan sells has long order cycles from the manufacturers, Titan wanted to accelerate the ordering process so that the desired equipment is on hand when customers need it. Now regional managers can approve requests for equipment purchases when they are on the road traveling to the different stores using their mobile device. The second approval micro app was created to help the regional managers ensure prop- er margins and protect against stores cutting prices prematurely on equipment that may not be moving. Now the regional managers have real-time access to approve a price reduction request anytime, anywhere. In creating this micro app, the approval process became digitized and therefore easy to track and enforce.
How Capriza Can Help
Volvo Financial Services, RPC and Titan Machinery all rely on Capriza to simplify and mobilize their approval processes. Capriza offers a cloud-based solution that consolidates critical approval workflows from all of your ERP, operational, and financial applications (e.g. SAP, Oracle, PeopleSoft, custom apps, etc.) into a quick, simple and consistent experience available on any mobile device. By simplifying, consolidating, and mobilizing your approvals, you’ll improve your organization’s agility, while maintaining compliance, in a way that’s simple and convenient for your business users.