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SUCCESS STORY

Refinitiv Transforms Order-to-Cash Cycle

TCS’ Salesforce-based automation solution shortens the lead-to-cash cycle 

 
Client
Refinitiv (formally the Financial & Risk division of Thomson Reuters)
Industries
Communications, Media, and Information Services
Service
Salesforce, Automation

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.  

 

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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!

 

"Through our partnership with TCS, we’ve been able to achieve automation and deliver results such as speed and accuracy to our customers that we weren't able to do before"

Allan Bronowitz, Head of Business Process, Refinitiv

Benefits

Shorter lead-to-cash cycle delights Refinitiv’s sales users and customers alike

With the new setup, Refinitiv has simplified the complex order fulfillment process, streamlined contract management and eliminated pricing irregularities; much to the delight of the company’s sales representatives, who can now close more deals quicker than before.

Not only has the sales cycle shortened, but the transaction experience of customers has also immensely improved; thanks to a self-service tool launched by Refinitiv called License Management.

 

15000

Customer accounts successfully migrated

3000

Users trained

500

Enhancements delivered

200

Countries covered

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