The assignment is in the attached file
Oder to Cash PIIR Order-to-Cash Process Improvement Initiatives Report (PIIR) Use the PIIR Template as a starting point to write a 3-4 page report about a process improvement initiative in the areas of credit, collections and A/R that you propose to implement or that has been implemented within your company or a company where you have worked before. Examples of an Order-to-Cash PII might be: workflow optimization, credit approval processes, invoicing, collections, deductions, collections forecasting, cash application, DSO and past dues, sales, terms of financing, etc. Share your Order-to-Cash successes! Post your finished report as a Word document to Post: PIIR Discussion Board. You may also attach additional charts, spreadsheets, presentations, reports and forms to your Forum posting. Your post is due no later than close of business on Wednesday of Week 8. YOUR NAME: P R O B L E M S T A T E M E N T Define the opportunity for improvement. Describe the situation and “before” processes, including your industry. Tell us what the symptoms of the problem are (or were, if you are describing a process improvement project that has already been implemented) and define the scope of the project and what it addresses. What is contributing to the situation and level of performance regarding the process or area under consideration? To increase on-time collections to 98 percent or 2% past due at month-end on our legacy businesses. M E T R I C How is success to be measured? How will the data be captured? Based on the metric you are using, what is considered to be a “defect” that you would like to eliminate? O B J E C T I V E S Describe the intended and/or desirable outcomes of the process improvement initiative you are reporting on. Quantify, using measurable terms, where you are starting from and where you want to be. B E N E F I T S Will the improvement save money or make money? Describe the anticipated benefits in monetary or other quantifiable terms. I M P L E M E N T A T I O N What strategies, methods and solutions will be used as means to achieve the desired outcomes? How will you get there? Describe the planning and implementation process, steps, and time frame; parties involved, dependencies on outsiders, and vulnerabilities; action items; costs; milestones and achievements during the piloting of the solution. R E S U L T S AND C O N C L U S I O N If this is a process improvement that has already been implemented, share the results in terms of the metric you used as well as the effect of this process improvement initiative on the company’s bottom line. What “next steps” is the Credit Department planning on taking to achieve/maintain improved performance in the Order-to-Cash cycle? Additional Comments (optional): 2 | Page