Integrify Case Studies BP Streamlines Business Processes and Enhances Compliance with Integrify

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	BP Streamlines Business Processes and Enhances Compliance with Integrify Integrify

BP Streamlines Business Processes and Enhances Compliance with Integrify

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
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. Read More
About 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. Read More
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. Read More Log in to view content
Contents

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

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 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.

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.

Impact #1	The implementation of Integrify has provided BP with significant flexibility and a wide range of request types that specifically match the Convenience Retail group's needs. The system has enabled BP to move approvals and projects forward in a more timely fashion, not just due to the automation of the approval system, but also because of the ease with which processes can be set up and monitored. Integrify has proven to be a useful tool in tracking projects from approval to completion. A primary benefit of the system was its ability to directly address compliance issues, with built-in reporting and analytics that simplify SOX compliance. The increased simplicity of the processes has allowed the group to process and track requests in real-time, making the process more efficient and enabling BP to move forward with projects in much less time than before.

Impact #1

The implementation of Integrify has provided BP with significant flexibility and a wide range of request types that specifically match the Convenience Retail group's needs. The system has enabled BP to move approvals and projects forward in a more timely fashion, not just due to the automation of the approval system, but also because of the ease with which processes can be set up and monitored. Integrify has proven to be a useful tool in tracking projects from approval to completion. A primary benefit of the system was its ability to directly address compliance issues, with built-in reporting and analytics that simplify SOX compliance. The increased simplicity of the processes has allowed the group to process and track requests in real-time, making the process more efficient and enabling BP to move forward with projects in much less time than before.

Benefit #1	Reduced costs per transaction by 60 to 90 percent compared to paper-based processes.
Benefit #2	Immediate efficiency gains with a return on investment (ROI) expected in three months or less.
Benefit #3	Approximately 150 employees in multiple locations of the Asset Management department in the Convenience Retail group are designated users of the system.

Benefit #1

Reduced costs per transaction by 60 to 90 percent compared to paper-based processes.

Benefit #2

Immediate efficiency gains with a return on investment (ROI) expected in three months or less.

Benefit #3

Approximately 150 employees in multiple locations of the Asset Management department in the Convenience Retail group are designated users of the system.

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Overview

BP Streamlines Business Processes and Enhances Compliance with Integrify

Operational Impact

Quantitative Benefit