Designing and implementing a Big Data benchmark in a financial context: application to a cash management use case

Sfaxi, Lilia; Aissa, Mohamed Mehdi Ben

doi:10.1007/s00607-021-00933-x

Cited by 2 publications

(1 citation statement)

References 38 publications

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“…Managing the O2C process is relevant to an organization's success (Korotina et al ., 2015). By analyzing the order management process, managers can understand the process performance and the customer perspective in the order processing (Shapiro et al ., 2004, Sfaxi and Ben Aissa., 2021). Critical people working with a joint effort to fulfill the customer order (Shapiro et al ., 2004) perform the order processing.…”

Section: Literature Reviewmentioning

confidence: 99%

Improvement of an order-to-cash business process by deploying lean six sigma tools: a case study

Kääriä,

Shamsuzzoha

2023

IJPPM

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PurposeThis study is focused to support an ongoing development project of the case company's current state and the challenges of the order-to-cash (O2C) process. The O2C process is the most visible process to the customer, and therefore, its punctual and fluent order management is vital. It is observed that the high degree of manual work in the O2C process causes mistakes, delays and rework in the process. The purpose of this article is therefore to analyze the case company's current state of the O2C process as well as to identify the areas of development in this process by deploying the means of Lean Six Sigma tools such as value stream mapping (VSM).Design/methodology/approach The study was conducted as a mix of quantitative and qualitative analysis. Based on both the quantitative and qualitative data, a workshop on VSM was organized to analyze the current state of the O2C process of a case company, engaged in the energy and environment sector in Finland.Findings The results found that excessive manual work was highly connected to inadequate or incorrect data in pricing and invoicing activities, which resulted in canceled invoices. Canceled invoices are visible to the customer and have a negative impact on the customer experience. This study found that by improving the performance of the O2C process activities and improving communication among the internal and external stakeholders, the whole O2C process can perform more effectively and provide better customer value.Originality/value The O2C process is the most visible process to the customer and therefore its punctual and fluent order management is vital. To ensure that the O2C process is operating as desired, suitable process performance metrics need to be aligned and followed. The results gathered from the case company's data, questionnaire interviews, and the VSM workshop are all highlighted in this study. The main practical and managerial implications were to understand the real-time O2C process performance, which is necessary to ensure strong performance and enhance continuous improvement of the O2C process that leads to operational excellence and commercial competitiveness of the studied case company.

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Section: Literature Reviewmentioning

confidence: 99%

Improvement of an order-to-cash business process by deploying lean six sigma tools: a case study

Kääriä,

Shamsuzzoha

2023

IJPPM

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Big Data Analytics for Improved Risk Management and Customer Segregation in Banking Applications

Shakya¹,

Smys²

2021

JISMAC

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While the phrase Big Data analytics is not only applicable for a certain realm of technology, diverse business segments like banking also benefit from the use of advanced mathematical and statistical models like predictive analysis, artificial intelligence, and data mining. If it is a query that is data volume generated in a bank or any financial institution is huge, it is absolutely a yes. As per the recent survey, it is observed that banks worldwide aren't just concentrating on improving the asset quality and fulfilling regulatory compliance but on the lookout for a digital convergence strategy to reach customers effectively in delivering services and products. As most of the data generated in internet banking and ATM transactions are unstructured accounting around for 2.5 quintillion bytes useful for fraud detection, risk management, and customer satisfaction, the use of trending Big Data Analytics methodology can be used to tackle the challenges and competition among banks. There are surplus advantages of Big Data strategy in the banking field and in this paper, we have made an analysis over Big Data Analytics on banking applications and their related concepts.

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Designing and implementing a Big Data benchmark in a financial context: application to a cash management use case

Cited by 2 publications

References 38 publications

Improvement of an order-to-cash business process by deploying lean six sigma tools: a case study

Improvement of an order-to-cash business process by deploying lean six sigma tools: a case study

Big Data Analytics for Improved Risk Management and Customer Segregation in Banking Applications

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