Presented by Nick Redman, GPO Contract to Cash & Banking, AstraZeneca, at the GPO Summit 2017, London.
AstraZeneca is seasoned when it comes to shared services, operating a global model with a blend of captive and outsourced (Genpact) delivery centres for the last 15 years.
Nick Redman is the company’s O2C (but starting in Contracts, so actually Contracts to Cash) GPO and is responsible for a huge part of the Cash Generation programme, which, so far, has realised $2.5 billion of cash and re-invested into R&D.
In this presentation Nick shares how he and the team have:
- Driven down overdue debt from $350 million to $30 million in 3 years (from 8% to 0.8%)
- Reduced the DSO (Days Sales Outstanding) from 80 days to 45 days
- Improved relations with stakeholders – trust is now restored and resistance to transformation is low
- Migrated Cash Application, Credit Risk Policy and Order Automation
- Created a clear plan for how to drive straight-through processing in O2C
Nick will also talk about where he sees the GPO role going, and what he believes the ideal GPO organisation looks like.