European payment processing
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1 1 European payment processing Boosting efficiency and cutting costs Short version München, June 22, 2012
2 BACKGROUND Source: Roland Berger "European payment processing" study, June The study on "European payment processing" identified potential for standardization and benefits Management summary (1/2) The study on "European payment processing" was designed to identify benefits that would flow from a standardized and harmonized ordering and invoicing process at European level The survey was conducted in April/May 2012 in the consumer goods industry The companies surveyed see potential for efficiency improvements from standardizing payment processing. Central factors holding back efficiency are: High level of complexity (driven by the number of customers, transactions, etc.) Large number of legal requirements (e.g. VAT, input tax) Little international use of electronic data transmission systems like EDI Delays in receipt of payments National master data systems in international corporations High process costs in some areas
3 POTENTIAL Source: Roland Berger "European payment processing" study, June Standardization offers added value, especially cost savings as well as improved liquidity and process quality Management summary (2/2) Improvement potential is identified above all in payment processes a field in which crossborder standards are a major issue. Companies see less room for improvement in delivery and complaint processes Respondents believe standardization could add value by: Cutting costs: Reducing follow-up work and freeing up employees' time Improving liquidity and working capital: earlier receipt of payments by customers and easier coordination with customers Enhanced process quality: lower error rates Respondents give widely varying estimates of the cost reduction potential of a standardized processing system. Over half reckon with 0-5% of today's process costs, one in three see potential savings in the 11-20% range
4 4 Efficiency boosts possible through standardization (1/2) 1 High level of complexity 2 Large number of legal requirements Avg. no. of transactions per FTE in Accounting [no.; %] > "It is essential to consider national differences when issuing invoices. For example, the offinvoice payment arrangements (e.g. for promotions) are commonly used in Germany, but are quite unusual in the UK." Producer of cooking oil for the up-market food sector 3 Electronic data transmission as a national standard Use of electronic data transmission systems [%] EANCON No Domestic Yes EDI 75 Andere 17 0 International Crossborder Large number of accounts payable/ customer accounts and resulting transactions Legal provisions (e.g. VAT, input tax) and national differences in invoicing Primarily national standards used for data transmission (e.g. EDI), little use of international standards
5 5 Efficiency boosts possible through standardization (2/2) 4 Delays in receipt of 5 Wide array of process costs 6 Strong organizational base in-house payments Outstanding payments as avg. share of all invoices [%] Company size by sales 2011 [EUR m] Standardization of master data 2) [%] For product master data <10% 10-20% Country- or subsidiary-specific Company-wide % Process costs [EUR] 1) For customer master data Country- or subsidiary-specific Company-wide 64 3 Slow payment flows due to discrepancies in prices and volumes drive up the share of outstanding payments Positive correlation between company size and process costs for payment processing Accounting departments in-house along with country-specific and subsidiaryspecific master data handling 1) Personnel and material costs, incl. IT; process costs for each relevant transaction in Accounting 2) Multiple mentions possible
6 6 Biggest room for improvement seen in payment processes Crossborder standardization is a key topic Potential for improving processes Improvement potential of processes with stores 1) [% ] Cross-border standardization is a key topic [% ] Payment process 50 Complaints process Yes 77% Delivery process No 23% Information flow of master data (product, customer information) 17 Least improvement potential (priority 4/5) Strong improvement potential (2/3) Largest improvement potential (1) Ranking: 1= largest improvement potential to 5 = no improvement potential 1) Multiple mentions possible
7 7 Added value from process standardization identified in all areas costs, liquidity, process quality Opportunities of standardization The industry view 1) Cost savings [% ] Liquidity and working capital improvement [% ] Enhanced process quality [% ] Less follow-up work Employees' time freed up Faster internal ordering and payment throughput Earlier receipt of payment from customers Less work for coordination with customers Earlier invoicing Lower error rate Better data quality for decision-making Fewer VAT risks Scope for using external resources 92 Better management of default risks 100 Lower IT costs 100 Highest priority (1) High priority (2-3) Low priority (4-5) Not mentioned (6) 1) Ratings on a scale of 1 = very important to 5 = no importance), multiple mentions possible
8 Savings potential of up to 20% from standardized processing possible Potential for reducing costs Size of cost-cutting potential from standardized processing [% of today's process costs] Further cost-cutting opportunities [% ] < 5% 56% 100% EDI processing % 11% 11-20% 33% Correct price and/or terms information Correct item master data 33 5 Correct billing & delivery addresses 67 Highest priority (1) Low priority (4-5) High priority (2-3) Not mentioned (6) Ranking: 1= very important to 5 = not at all important
9 It's character that creates impact!
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