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BTOES Insights Official
By
December 23, 2021

Dover Business Services' 2021 AWARD FINALIST CASE STUDY: Best Achievement in Operational Excellence to deliver Digital Transformation

Read this article about Dover Business Services, Finalist in the Best Achievement in Operational Excellence to deliver Digital Transformation, selected by the independent judging panel, for the 2021 Digital Transformation & Operational Excellence Industry Awards program.

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DBS Accounts Payable Digital Transformation Journey

Dover Business Services (DBS) is an independent business-to-business service provider within Dover Corporation. DBS empowers Dover Operating Companies' growth by providing best-in-class operations expertise and finance services to increase capacity, improve controls and reduce operating costs. Among its services include the Accounts Payable function which offers an end-to-end AP process that ensures vendor and supplier invoices are processed, approved, and paid on time to keep the business moving.

During DBS' initial stage of operations, most of its Accounts Payable (AP) activities were processed manually – from data capture to approval workflows that required multiple email threads. As a result, it is common for invoices to get lost in the mix and miss deadlines. This led to a deteriorating relationship with vendors and a lower quality of service. This also created a risk for errors that would impact Dover through the amount of time and money it required to fix when these issues surfaced downstream in the payment process. As these challenges continuous to emerge, DBS recognized the importance of digital transformation as a crucial part of its Operational Strategy. 

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The DBS AP Digital Transformation strategy leverages technologies managed by process experts to achieve standardization, simplification, and efficiency of the AP process through automation. The move for DBS over AP vision of digitally transforming the AP process through automation was started in 2019, DBS integrates its accounting system with a cloud-based AP Automation solution built to streamline Accounts Payable. This integration includes a two-way Secure File Transfer Protocol (SFTP) of data between systems to ensure secured and accurate interfacing. This integration also aims to have one standard system for different Enterprise Resource Planning (ERP) software used by Dover Operating Companies. 

The organization started with the “Lift and Shift” model where the goal was to lift the current Operating Company’s AP process and shift its operations to DBS and maintain most of their operational model. In 2019, DBS shifted its gears from the Lift and Shift transition strategy to the “Lift and Transform” model where it follows the business process transition methodology while integrating digital transformation of the Operating Company’s AP process. From 2020 to the present, Dover Business Ser-vices continues to broaden its reach, bringing in new business process transition projects us-ing its "Lift to Transform" methodology. And as the company keeps growing, it is also steadily increasing its scope and services. As a result, DBS has successfully transitioned 44% of Do-ver OpCo’s Business Units as of 2021 and will continue to extend its services to new Operat-ing Companies in the coming years while keeping its vision of continuously improving the digital transformation journey of the AP process through automation.

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With the integration of AP solutions and tools, DBS achieved a streamlined and accurate invoice processing workflow and improved efficiency by 62.43%. While improvement on vendor payment process eliminates overpayment and duplicate payments, at the same time, improving the team's efficiency by 56.5%. Currently, DBS has reduced its AP operating cost by 23% from its 2019 baseline. 

Digital Transformation & Operational Excellence Industry Awards 2021

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About the Awards

The Digital Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding achievements through the application of Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs. Click here to view the Press Release.

The winners will be announced at the Awards Ceremony at The Digital Transformation & Operational Excellence World Awards (DTOES) on Wednesday, December 15th, 2021, from 6:30 PM at Renaissance Orlando at SeaWorld®.

The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs to deliver outstanding business results.

The Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit, BTOES 2021 on December 15, 2021, at the Renaissance Orlando at SeaWorld®. Click to access the agenda, view the current speakers, and watch the highlights video from last year.

Speakers

Agenda

Highlight Video 

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BTOES.com

The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry

BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.

With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level. 

Quick Links

Speakers

Agenda

BTOES Awards 

There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.

The agenda is designed to encourage active meaningful conversations through all day enhanced networking and interaction opportunities, including

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Featured Content

  • Best Achievement of Operational Excellence in Technology & Communications: IBM
  • Best Achievement of Operational Excellence in Oil & Gas, Power & Utilities: Black & Veatch
  • Best Achievement in Cultural Transformation to deliver a high performing Operational Excellence culture: NextEra Energy
   
Operational Excellence Frameworks and Learning Resources, Customer Experience, Digital Transformation and more introductions
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  • Six Sigma's Best Kept Secret: Motorola & The Malcolm Baldrige Awards
  • The Value-Switch for Digitalization Initiatives: Business Process Management
  • Process of Process Management: Strategy Execution in a Digital World

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Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

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Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

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Delivered by the industry's most progressive thought leaders from the world's top brands.
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BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

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Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
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BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120

Proqis Digital Virtual Conference Series

View our schedule of industry leading free to attend virtual conferences. Each a premier gathering of industry thought leaders and experts sharing key solutions to current challenges.

Webinars

 

Delivered by Progressive Thought-Leaders

 

Watch On-Demand Recordings For Free

Watch On-Demand Recording - Access all sessions from progressive thought leaders free of charge from our industry leading virtual conferences.
 

Best-In-Class Training

Delivered by the industry's most progressive thought leaders from the world's top brands.
Start learning today!
 

BTOES From Home - On-Demand

The premier Business Transformation & Operational Excellence Conference. Watch sessions on-demand for free. Use code: BFH1120