Volkswagen Financial Services China
Driving business value by automating processes with Accipiens
Volkswagen Financial Services China (VWFC) stands as a leading provider of financial services for the Volkswagen Group in China. As part of their growth strategy, VWFC implemented VTXRM’s software solution, Accipiens as their contract management system. This implementation aimed to enhance operational efficiency and streamline processes within VWFC, reflecting their commitment to continuous improvement and innovation.
The Challenge
Performance Metrics for Growth
VWFC aimed to achieve specific performance metrics set by the Volkswagen Group, considering current portfolio and anticipated growth. Required a scalable solution to meet immediate needs and accommodate future expansions.
Streamlining Manual Workflows
Identified time-consuming and error-prone manual processes. Critical need for optimization to streamline workflows, enhance efficiency, and reduce inaccuracies.
Swift Application Processing
Required a solution to expedite daily application approval. Essential for meeting SLAs and efficiently handling contract disbursement and activation. Emphasis on high functionality for quick decision-making, task automation, and real-time insights.
Comprehensive Financial Lifecycle Solution
Recognized the need for a unified, high-functional contract management system.
Aimed to streamline operations and cover the entire lifecycle of financial processes comprehensively
Scope of the Project
Resources Involved
The project engaged around 40+ resources, including functional
consultants, technical consultants, API developers,
team leaders, and project manager.
Stream Structure
Project divided into 5 streams: Requirement analysis,
Accipiens configuration, integrations, API development, and
migration.
Functionalities Delivered
Full Business Lifecycle Management: Ensured end-to-end
management of the complete business lifecycle.
Specific features and functionalities were implemented,
such as income schedule, subsidy sharing, credit limit
workflow, dunning letter, and more.
Customized APIs and Integrations
Accipiens was integrated with various systems, including
point of sale, scoring /decision engine, WeChat, customer
portal, and more.
Additional Integrations
Integrations with BI, banks/direct debits, documents
archiving, car data, SAPFI, and others were implemented.
Key Implementation Enhancements
Automated EOD and EOM Processes:
• Introduced Scheduler Job with Pipelines for
EOD and EOM automation.
• Completed processing over a million
contracts within a 3 to 4-hour window.
• Achieved a 360-degree client view and full
business lifecycle coverage.
Customized APIs
• Developed tailored APIs for integration
across diverse systems.
• Systems included point of sale, scoring/decision
engine, document archiving, customer
portal, banks, BI, banks/direct debits, car
data, residual values, and SAPFI.
• Enabled centralized product configuration
and calculation engine for all channels.
Optimized Workflows
• Streamlined and automated various
processes, including new applications workflow
and contract and activation workflow.
• Facilitated VWFC in meeting Service Level
Agreements (SLAs).
Cost-Effective Solution
• Implementation of Accipiens resulted in
substantial cost savings.
• Replaced manual processes with automated
workflows for greater efficiency and flexibility.
• Contributed to overall operational improvement.
"From the first day we formed a team that had the common goal to be successful. Especially the dedication of the VTXRM colleagues who supported us onsite in Beijing is remarkable. The colleagues were from first day part of the team. Besides of their knowledge and professionalism, their interest in people and culture helped a lot to build a successful team."
Benefits
The consultancy provided by the VTXRM team added significant value, leveraging expertise and industry knowledge to understand VWFC specific requirements and deliver tailored solutions. The consultancy services extended beyond technical implementation, encompassing strategic guidance, process optimization, and best practices to further enhance the effectiveness of the solution.
- Flexibility and Customization Tailored solutions for non-core functions enabled seamless adaptability
- High System Availability Accipiens ensured uninterrupted service with 24/7 availability
- System Stability A stable platform enabled consistent operations without disruptions
- Technology Solution Synergy Integration across business lines
- Commitment and Consultancy Value VWFC praised VTXRM’s commitment, understanding, and optimization efforts
- High-Quality Delivery Accipiens facilitated excelent service and results
- Streamlined Collaboration Effective communication and well-organized team structure
- Onsite Team Support Dedicated on-site support enhanced project efficiency
- Quick Response and Adaptability Rapidly addressing issues and business requests ensured agility
Results
The successful implementation of Accipiens for VWFC has paved the way for future plans and projects. VTXRM and VWFC are working together to identify new opportunities and areas for improvement. These new projects will build on the success of the Accipiens implementation and provide VWFC with new opportunities to improve their financial services offerings and achieve their business objectives.
VTXRM will continue to provide support throughout these projects, ensuring that VWFC has access to the best possible solutions and services.
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Optimizing processes and improving the management of financial products with Accipiens
Driving business value by automating processes with Accipiens