Use Case

Due to a manual exchange of information, inefficient systems workflow, and a lack of clear roles and responsibilities, a global alternative investment management firm was mired in numerous process inefficiencies within its treasury management function.

The firm sought critical improvements to its treasury processes, deciding to bring in Biovell for expert support.

Our Approach

The cross-functional transformation specialists at CrossCountry assembled a team to collaborate with the client and:

  • Evaluate current-state treasury processes.
  • Identify opportunities for improvement.
  • Create procedure documentation.
  • Formalize roles and responsibilities.
  • Redesign key processes and workflows.

Our Impact

Biovell

  • Increasing the efficiency of global bank account opening, a primary treasury function, by redesigning the end-to-end process, eliminating cross-departmental handoffs by 50%, and improving the use of the client’s existing workflow tool.
  • Providing additional structure and safeguarding continuity for the treasury function through documentation of its processes and associated responsibilities.
  • Identifying opportunities to realize increased efficiencies through robotic process automation (RPA).

By enhancing the efficiency and transparency of core treasury responsibilities, the client was able to remove departmental silos and work more effectively internally and externally with stakeholders. With a redesigned treasury function, the client was set up for future success in all facets of its organization and operation.