Treasury and Investment Management, Business Process Improvement

Process Makes Perfect: Paraguay and El Salvador Treasuries Achieve Real Results Using Business Process Improvement

Artwork from GFR

Business process improvement (BPI) can streamline functional processes by eliminating non-value-added steps and automating critical value-added manual steps. This approach — which involves identifying, analyzing and improving existing business processes to optimize performance, meet best practice standards, etc.—works best when senior management supports crossfunctional teams that are tasked with mapping and analyzing business processes step by step and identifying opportunities for improvement.

When done right, BPI drives results, as in the case of projects headed by the national treasurers of the Republics of Paraguay and El Salvador.

The objective of these projects was to streamline and automate critical business processes. In the case of Paraguay, the project automated the resource transfer request review process in the general directorate of Public Treasury, making a manual, cumbersome, and time-consuming process paper-free.

The process was replaced with an e-document to realize savings in costs and time.

  • Publication date: December 2020