World’s second-largest steel company forged stronger credit approval processes with low-code automation

Our customer was the second largest steel company in the world serving customers across 140 countries.

Given the size and scale of their operations, one could expect their sales team to be occupied, processing orders from buyers. Running at full throttle, they were doing their best to deliver faster and better services to their buyers.

However, we identified that they were spending most of their time on tedious, routine tasks in the credit approval process that could be automated to supercharge their performance.

What could be improved there?

Credit limit approval is a critical step in processing purchase orders. To support this important process, our customer was relying on Dynamics AX, a legacy ERP system with complex interface and limited capabilities.

The sales team had to navigate through the complex UI of Dynamics AX to create credit limit approval requests. Later, they had to move the requests through a three- to six-level approval process, based on the exposure and overdue status of the buyer.

But the approval management should happen over emails – a manual, inefficient process that would pose credit risks and delay order processing. Our customer’s employees exchange hundreds of emails on a given day and the credit requests often get buried in their inboxes. As a result, approvers would often miss the requests and the sales team had to follow up thoroughly to ensure adherence to timelines.

The challenges facing our customer resulted in severe impact on buyer relationship and sales revenue.

When the steel company approached us with these challenges, we identified an opportunity to create a seismic shift in the operations and drive excellence using an effective, low-code/no-code automation solution.

Curious to explore our solution?

Read the inspiring transformation story of the world’s leading steel manufacturer and discover possibilities to drive innovation at your organization.