The performance improvement services provided by Practus assisted the Indian manufacturer in reducing its settlement time for claims such as returns, disposal, sample, and rate from 34 days to 12 days.
|Client||ROI||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|Indian Manufacturing MNC||5X||Specialty Chemicals||Indian MNC||Professional||5000+||$67 million||30 months|
About The Company
Glueconnect is an Indian MNC for the manufacturing of adhesive, industrial, and construction chemicals. Glueconnect operates in two segments consumer and bazaar products and industrial products. It’s a 60-year-old company with manufacturing facilities in more than 10 countries and a global presence in more than 70 countries.
Practus’ Role in Performance Improvement Services
- Scheme settlement time was very high due to entire process being manual.
- Lot of errors and duplicate credit note getting posted in SAP Increased queries from field staff, WSS. Most data were in several Excel files and in multiple formats.
- Too many back and forth of ‘Entitlement Charts’ that do not comply with the Claim Cell’s check list.
- Around 700 claims pending for settlement in case of direct claims like sales return, Disposal, Rate difference, Sample etc.
- The TAT-based process was established between division and claim cell.
- Tracker established for settlement time for each division TP portal developed to upload processed EC – leading to better visibility to stake holders.
- Reports for calculation of claim amount was developed in Power BI report is developed in SAP which does calculation of the 10% handling charges to be given on CN given for tokens An online facility was developed for the WSS.
Impact Delivered in Performance Improvement Services
- Settlement time from 37 days to 12 days Automated EC generation in overall claim settlement increased to 81% compared to previous year’s 40%.
- Compliance of Stock Loss policy has increased by 50%.
- Compliance of NO claim confirmation policy increased up to 82% versus 71% in the previous year.
- Settlement time for other claims such as Returns, Disposal, Sample and Rate difference has reduced to 12 days versus 34 days in previous year.