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BP Streamlines Business Processes and Enhances Compliance with Integrify
Technology Category
- Cybersecurity & Privacy - Security Compliance
Applicable Industries
- Finance & Insurance
- Retail
Applicable Functions
- Quality Assurance
- Warehouse & Inventory Management
Use Cases
- Inventory Management
- Time Sensitive Networking
Services
- System Integration
The Challenge
BP, one of the world's largest energy companies, faced a significant challenge in its Convenience Retail group in the United States. The group needed a more efficient and standardized method for processing requests, as well as a reliable system for tracking and reporting these requests to comply with Sarbanes-Oxley requirements. The challenge was to replace paper finance memos with a more efficient, regulated, and automated system that would not only save time but also provide a comprehensive paper trail for all financial requests. They also needed a request management system that would seamlessly integrate with the company's existing SAP system without duplicating its functionality. Furthermore, the system had to be capable of tracking and archiving data necessary for compliance under the Sarbanes-Oxley regulations. Lastly, the solution had to be affordable as it had not been planned for in the group's budget for that year.
About The Customer
BP is one of the world's largest energy companies, with operations in over 100 countries and a workforce of more than 96,000 employees. The company's Convenience Retail group in the United States, which was the focus of this case study, required a more efficient and standardized method for processing, tracking, and reporting requests to comply with Sarbanes-Oxley requirements. The group needed a solution that would integrate with their existing SAP system, track and archive necessary data for compliance, and be affordable within their budget.
The Solution
After researching potential solutions, BP's financial team determined that Integrify was the best fit for their needs. Integrify is a flexible workflow management system that automates workflows and streamlines processes. It provides form creation, routing definition, and tracking tools to those responsible for processing requests, thereby minimizing data entry and simplifying requests for approval and fulfillment. Being web-based, Integrify allows for easy user accessibility and management of business processes. It eliminates problems typically associated with labor-intensive processes such as manual paper handling and email requests, and can reduce costs per transaction by 60 to 90 percent compared to paper-based processes. The Integrify OnDemand solution provides the full functionality of Integrify via the Internet without the need to install and maintain software. It also allows companies to implement, monitor, and control processes and policies that require authorizations as part of the internal control compliance requirements in the Sarbanes-Oxley Act.
Operational Impact
Quantitative Benefit
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