IBM's 2021 AWARD FINALIST CASE STUDY: Best Achievement in a Business Process Management Program

The main goal of this transformation project was to redesign the Compliance and Controls operating model to gather strategic advantages using the latest digital technologies, making internal controls even more effective, efficient, and proactive. To uncover opportunities and set the proper strategies to achieve that goal we started by selecting the Quote to Cash segment of the organization. A team composed of 3 leaders and 67 employees located around the globe. 

We utilized industry benchmarks, Lean Six Sigma continuous improvement methodology, and agile concepts and tools to guide us through the discovery project. The pilot showed us that to transform the Risk Compliance and Controls workflow, we would need to track four mutually reinforcing areas in sequence: organization structure, governance, process, and automation. 

• By optimizing the organization across the globe, we yielded effectiveness by creating a pool of compliance professionals with well-defined responsibilities and scope. These responsibilities are better aligned with the Risk Compliance and Controls process, allowing teams to focus on compliance core activity, increasing accountability, and matching their talent to jobs.
• By rationalizing governance, we focused our attention on what matters most and removed pain points from the business. We introduced a centralized global workflow tool to manage a funnel of work, using agile metrics that helped us in identifying gaps in the workflow.
• By streamlining and aligning processes globally, we took dramatic steps on the efficiency–effectiveness curve while creating better employee and customer experiences. We streamlined processes making it easier to take advantage of digital technology, allowing it to target specific points and/or full end-to-end process areas.
• By using Robotic Process Automation, we were able to reduce a significant number of manual tasks and improve the overall Testers experience and by leveraging the latest technology, we deployed a Risk Management dashboard that helped the execution to proactively identify and address risks in the process. 

The project yielded over 28,900 manhours of savings. 

1. Better accuracy and effectiveness in Risk, Compliance & Controls actions, including better tracking of aftereffects. Year to year, from July 2020 to June 2021 we achieved a 44% decrease in the number of process deviations.
2. Streamlined testing execution for 1,700 controls points globally, resulting in an 18% reduction on the testing transactions.
3. Implemented a globally aligned management system using agile principles and methodologies. The aligned governance delivered 20% increase in resource utilization.
4. Implemented agile metrics allowing us to focus on continuous improvement, driving 30% productivity gain with the decrease in the testing cycle time. 

The results of this project are not simply in hard benefits for our business, but they also come with a handful of personal improvements to the employees involved. New career opportunities and synergy between the teams inside the new organization are bringing not only a renewed spirit to the teams but providing a long-term effect on employee engagement, whilest also exponentiating the capacity of the team to drive innovation. 

This project was the cornerstone where the new Risk, Compliance & Controls organization will grow and thrive in the company.