Cofco International Compliance and Trade Automation

 

About Cofco International

COFCO International is a company with strong values and our Code of Conduct contains general obligations and responsibilities for conducting business with the highest standards of ethics. Integrity Hotline provides employees and stakeholders with a mechanism to address concerns confidentially, anonymously and without fear of reprisal.

Executive Summary

 

“Sales automation for our new Inside Sales department is fundamentally about enabling seamless customer engagement and managing the end-to-end execution of incoming requests in a structured and effective way”.

Challenges

In the high intensity administrative processes of international food and feed trade, Cofco International encountered several inefficiencies in the operations. Inefficiencies like double and manual data entry, which caused low first time right results. In the process lots of documents were generated and updated manually, this manual document management was not standardized and aligned with legal and regulatory requirements, causing several manual checks in the process resulting in long lead times. Lack of standardized ways of working causes (in general) a lot of email traffic and a low rate of continuous improvement, causing higher risks levels than necessary in this capital intensive business.

Solution

Nimble institute worked with the team to analyze the current state of processes and discovered, in close cooperation with the customers team, several opportunities for implementing a Digital Business Platform with Bizagi as backbone. This resulted in several digital processes for the oil and grain desk, the global quality department and presenting (vessel and orders) process status on a real time dashboard. Good example of the solution on the Digital Business Platform are the processes related to oil contracts. Bizagi handles the full end-to-end proces from charter party, import of contracts, handling mate receipts and letters of credits, up to 4 eye-checks, generation of (over fifty!) different types of documents, management of hard copy files up to receiving the payments. Check from the quality global department, executed by external auditors, are 1 on 1 integrated within the proces. Contaminations or other quality issues? Everybody who needs to know is automatically informed and proper actions are taken. The unique process of global food and feed trading had transformed to a standardized and digital process, ready for execution and continuous improvement.

“Nimble really brought Cofco’s processes to life. Through using GPS data of the ships Cofco is able to relate contract status with the actual status of the vessels. This insight gives highly improved controle of the overal process, decreasing risk and (for example) minimizing costs for penalties at origins and/or destinations.”

Results

The Digital Business Platform at Cofco is realized in severals sprints, following the principles of agile. The solution itself is build in an agile manner in order to be able to adopt quickly to changing needs due to new and updated businessmodels and rapidly changing rules and regulations. The platform is integrated with the companies ERP system making it connected and engaging employees in the use of it. This results in improvement customer experience due to a decrease of leadtimes of 50% as wel as a decrease of process time of over 60%. Process related emails are reduced with over 90%(!).

“Navigating your change, combining the power of people, processes and technology. That’s Nimblicity”

 

Lead times
Decreased lead time for quotations by 50% by reducing waste and unnecessary hand-overs.

 

Data entry
Reduction of time in entering data in systems is reduced by 60%

 

 

  1. Cofco International acquired Nidera in 2018 and adopted the digital processes.
  2. The digital dashboard is not presented in this showcase due to Non Disclosure Agreements.

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