Optimising financial processes

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Seven “Customer Experience” Principles that Ease Compliance

I had a dose of enlightenment reading one of Pedro Berrocosoโ€™s recent articles . . .

It sometimes happens ๐Ÿ˜‰

His argument is thatย too much management time is spent on policing compliance to business policies and controls.ย 

Agreed . . .

Pedro is a procurement leader by trade, but his observations on this matter are widely applicable and worth considering in any process change, transformation or digital/automation initiative.

He shares a feeling that I am sure that many of us have experienced in climbing the โ€œmanagement ladderโ€ย  . . .

โ€œ๐—œ ๐—ป๐—ฒ๐˜ƒ๐—ฒ๐—ฟ ๐˜„๐—ฎ๐—ป๐˜๐—ฒ๐—ฑ ๐˜๐—ผ ๐—ฏ๐—ฒ ๐—ฝ๐—ฎ๐—ฟ๐˜ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—ฝ๐—ฟ๐—ผ๐—ฐ๐˜‚๐—ฟ๐—ฒ๐—บ๐—ฒ๐—ป๐˜ ๐—ฝ๐—ผ๐—น๐—ถ๐—ฐ๐—ฒ!โ€

He asserts that we should design and implement processes, with supporting technologies, embedding a user experience which does the policing for you . . .

Who could argue with that?

He proposes 7 principlesย to consider when designing and testing the process and it’s โ€œexperienceโ€.ย I summarise them here but it is worth reading Pedroโ€™s article below:

  1. ๐—Ÿ๐—ฒ๐˜€๐˜€ ๐—ถ๐˜€ ๐—บ๐—ผ๐—ฟ๐—ฒ:ย Simplicity is Key. As Steve Jobs famously said โ€œโ€œIt takes a lot of hard work to make something simple, to truly understand the underlying challenges and come up with elegant solutionsโ€.
  2. ๐—œ๐—ป๐˜๐—ฒ๐—ด๐—ฟ๐—ฎ๐˜๐—ฒ ๐—ฐ๐—ต๐—ฒ๐—ฐ๐—ธ๐˜€ & ๐—ฐ๐—ผ๐—ป๐˜๐—ฟ๐—ผ๐—น๐˜€ย in an intuitive, decluttered user interface that provides transparency on compliance relevant data points.
  3. ๐—ฆ๐—ถ๐—ด๐—ป๐—ฝ๐—ผ๐˜€๐˜ ๐—ฎ๐—ป๐—ฑ ๐—ด๐˜‚๐—ถ๐—ฑ๐—ฒ: embed visual cues and a logical sequence of process steps to help process participants provide all necessary information, once.
  4. ๐—Ÿ๐—ฒ๐˜ ๐˜๐—ต๐—ฒ ๐—บ๐—ฎ๐—ฐ๐—ต๐—ถ๐—ป๐—ฒ ๐—ฏ๐—ฒ ๐˜๐—ต๐—ฒ ๐—ฑ๐—ฒ๐˜๐—ฒ๐—ฐ๐˜๐—ถ๐˜ƒ๐—ฒ:ย enableย data driven solutions (including AI) to route and validate potential non-compliant activities
  5. ๐—˜๐—ป๐—ฎ๐—ฏ๐—น๐—ฒ ๐˜€๐—ฒ๐—น๐—ณ-๐—ฐ๐—ต๐—ฒ๐—ฐ๐—ธ ๐—ผ๐—ป ๐—ฐ๐—ผ๐—บ๐—ฝ๐—น๐—ถ๐—ฎ๐—ป๐—ฐ๐—ฒ:ย provide a simple upfront checklist for casual users, with FAQ’s (chatbot or otherwise) and access to preferred, simple routes to meet their needs (โ€œWhatโ€™s In It For Meโ€ (WIIFM)).
  6. ๐—˜๐—ป๐—ด๐—ฎ๐—ด๐—ฒ & ๐˜๐—ฟ๐—ฎ๐—ถ๐—ป:ย integrate the WHY, WHAT and HOW of policy and control in all educational media, training and Q&A sessions.
  7. ๐—Ÿ๐—ฒ๐—ฎ๐—ฟ๐—ป & ๐—”๐—ฐ๐˜:ย apply โ€œdefectivityโ€ thinking and continuous improvement (CI) principles to identify and address root causes of any process or control issues and areas of โ€œexperienceโ€ dissatisfaction.

The key here is both a โ€œcustomer experienceโ€ focus AND the need to consider process risks, policies and controls up-front, when initially reviewing the AS-IS process and in defining the new shiny โ€œTO-BEโ€ process . . . .

You can read Pedroโ€™s source article here . . .

Thanks for reading . . .ย