BPO Future Forward: 8 SOX Controls Best Practices to Transform the OTC Value Chain

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  • @Infosys_bpo #SCM

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

  • @Infosys_bpo #SCM

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

    The Sarbanes-Oxley (SOX) Act was introduced as a regulatory compliance mechanism to protect enterprises from the jaws of scandal. However, by looking beyond compliance, SOX controls can be a lever to unlock transformation across the order-to-cash

    (OTC) value chain. Here are 8 best practices to get you started.

  • @Infosys_bpo #SCM

    1The order

    management system should be

    interlinked with customer master, price master, and product master

    database to avoid errors or delays in the order receipt

    process

    2

    Sales order numbers are sequentially numbered and performing a

    manual / system check can identify duplicate orders or

    orders falling outside a specified range

    BREAK DOWN SYSTEMIC SILOS IN

    ORDER RECEIPT

    AVOID DUPLICATESALES ORDERS

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

    1 2 3

    1 1 1

  • @Infosys_bpo #SCM

    3

    Notify the customer / site of a

    delay in shipment by sending an advance shipping note (ASN), specifying the order

    line in terms of container,

    pallet or load

    4

    Build a workflow solution to ensure

    prompt resolution of customer short or

    net payments, including handling

    customers debit memoranda

    REDUCE DELAYS INGENERATING

    SALES INVOICE

    RESOLUTION IS THE BEST POLICY FOR CUSTOMER

    INVOICING

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

  • @Infosys_bpo #SCM

    5

    Pursue major value debtors with phone

    calls, and retrieve low-value debts

    through automated dunning letters. This

    will increase the probability of timely

    payments

    6

    Enable automatic matching by

    uploading electronic remittance advices

    into the sales ledger

    DRIVE VALUE-DRIVENPROACTIVE COLLECTION

    CAPTURE REMITTANCEDETAILS

    ELECTRONICALLY

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

  • @Infosys_bpo #SCM

    7

    Provide approvers real-time inputs on

    adherence to established and updated return

    policies

    8

    Establish a system for recording and

    tracking claims and deductions with the following attributes resolution service

    standards, routing of claims, and

    escalation of unresolved claims

    ACCELERATE THEPROCESS OF

    RETURNS APPROVAL

    ENHANCE CUSTOMERSATISFACTION

    THROUGH ACCURACY

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

  • @Infosys_bpo #SCM

    FIND OUT MORE

    READ

    Blog post

    READ

    White Paper

    Network with industry leaders at InfosysBPO.com/community

    InfosysBPO.com/BPOFutureForward

    VIEW

    Infographic

    8 SarbanesOxley (SOX) controls best practices to transform the order-to-cash value chain

    THE SALES AND FULFILLMENT (S&F) SERIES

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