Standardization of accounts monitoring for fully paid accounts

• Main Author: Bellen, Angela P.
• Format: text
• Published: Animo Repository 2021
• Subjects: Standardization; Information storage and retrieval systems—Consumers; Business Administration, Management, and Operations
• Online Access: https://animorepository.dlsu.edu.ph/etdm_manorg/84; https://animorepository.dlsu.edu.ph/context/etdm_manorg/article/1100/viewcontent/bellen_Redacted.pdf
• Institution: De La Salle University

This action research is focused on addressing the issues of different accounts monitoring and nomenclatures of around 60,000 fully paid accounts supervised by the 36 account officers under 6 different Brands of Green Company. This issue led to lack of common understanding with the data presented in the monitoring, inefficient reconciliation process with the other groups, and longer time consumed in preparing the monthly reports. To address this issue, the team collaboratively decided to focus on standardizing two essential data and the template for the accounts monitoring. The essential data are the nomenclatures for Titling Documentary Requirements and Frozen Reasons. The data and template were validated and agreed upon by the representatives of the six Brands. Upon implementation, the reports shared and submitted were cleaner and more comprehensible. However, the updating of accounts monitoring and selection of the correct nomenclatures are still manually done in MS Excel by the processors. Because of this, the monitoring is prone to misspelling, incorrect categorization, and inclusion of non-standard nomenclatures. Although these mistakes can easily be corrected, it still may lead to lower productivity, operational difficulty, and financial distress to the company. Aside from this, the files are restricted to one person at a time making it difficult to have a readily available information. To address this, the team opted to transfer the accounts monitoring in an online system. The accounts monitoring files were uploaded to the online system one team at a time to immediately address any possible issue that may arise while implementing it. The newly standardized nomenclatures were integrated in the system via multiple selection dropdowns. The online accounts monitoring was also shared to other data users as viewers. The implementation of the second intervention was the big step a more effective monitoring of fully paid accounts and reduction of time spent in preparing reports related to fully paid accounts.