Refinitiv Transforms Order-to-Cash Cycle

Challenge

Refinitiv was looking to automate the end-to-end order fulfillment process.

As a leading provider of financial data to buy-side and sell-side firms, Refinitiv (formally the Financial & Risk division of Thomson Reuters) receives thousands of customer inquiries and orders on a daily basis.

The company’s legacy systems and processes involved considerable manual intervention and were therefore time-consuming for customer administration teams who were responsible for processing orders globally. Moreover, this dependency on customer administration teams drove longer than ideal turnaround times for entitling data and delivering order forms to customers.  

Solution

TCS implements Salesforce-based automation solution, eliminates manual intervention

With TCS as a technology partner, Refinitiv reengineered its order-to-cash process. TCS worked hand-in hand with the business and IT teams to conduct a thorough gap analysis of the existing process. Consequently it proposed an automated solution to replace the manual work being done by customer admin staff.  In this new setup, the customer master and ordering system continued to be on Siebel and SAP respectively, but the two were bridged using the Salesforce platform.  The work that customer admin were performing to date – the entire drill of retrieving customer data from Siebel, mapping it to the order data in SAP and processing the request for closure and billing – was now carried out with just a few simple clicks!