Order to cash business process standardization for audit compliance and accreditation at Ascensia Diabetes Care.
Muraya, Michael (2020)
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020120826705
https://urn.fi/URN:NBN:fi:amk-2020120826705
Tiivistelmä
This thesis aimed to demonstrate the order to cash process standardization that was carried out at Ascensia Diabetes Care for auditing and accreditation. The focus was on the commissioning company's current order to cash processes to learn the generally accepted business process standardization procedure. The research aimed at shedding light on quality and compliance as a result of standardizing business processes. This is a crucial part of audit compliance and accreditation for businesses interested in carrying out this venture.
The main business processes that this thesis focused on are the ones involved in the order to cash cycle. These include finance, operations, and customer service. Ascensia Diabetes Care is part of a conglomerate with a holding company. The holding company carries out the production of medical device products as a separate entity. Therefore, the production process standardization were not addressed extensively.
This thesis demonstrated that there are some value propositions as a result of business process standardization. The research gives an insight as to the motivation why most multinational corporations strive to achieve standardized business processes with the aim of auditing and accreditation. The research was limited to standardization, quality and, compliance, and some regulatory requirements in auditing and accreditation. The research showed how controls utilized during standardization improve operations, leading to risk management and risk reduction.
In conclusion, the thesis also recommended methodologies that can be adopted to achieve incremental business process improvements. These improvement methodologies are 5S and Kaizen. It was highlighted why the adoption of these methodologies can be used to achieve performance excellence and maintenance. This can be useful for the company when it considers methods of achieving incremental continuous improvements. These methods can be integrated into the company's ERP systems with as much ease as is possible while maintaining standards and quality.
The main business processes that this thesis focused on are the ones involved in the order to cash cycle. These include finance, operations, and customer service. Ascensia Diabetes Care is part of a conglomerate with a holding company. The holding company carries out the production of medical device products as a separate entity. Therefore, the production process standardization were not addressed extensively.
This thesis demonstrated that there are some value propositions as a result of business process standardization. The research gives an insight as to the motivation why most multinational corporations strive to achieve standardized business processes with the aim of auditing and accreditation. The research was limited to standardization, quality and, compliance, and some regulatory requirements in auditing and accreditation. The research showed how controls utilized during standardization improve operations, leading to risk management and risk reduction.
In conclusion, the thesis also recommended methodologies that can be adopted to achieve incremental business process improvements. These improvement methodologies are 5S and Kaizen. It was highlighted why the adoption of these methodologies can be used to achieve performance excellence and maintenance. This can be useful for the company when it considers methods of achieving incremental continuous improvements. These methods can be integrated into the company's ERP systems with as much ease as is possible while maintaining standards and quality.