The Triple A Asset awards represent the industry’s most prestigious award across Asia Pacific in the world of Banking and Finance. BNP Paribas, Ramboll’s banking partner in India, nominated Ramboll-BNP Paribas’ Document Exchange Connect (DEC) solution, was shortlisted and won the ‘Best payment and Collections solutions’ category for using the newly launched DEC platform to digitise documentation and handling cross border transactions.
Ramboll’s Head of Business Finance – Middle East & Asia Pacific, Sumit Gupta shares how the digitisation journey began. “Previously we followed a traditional process for cross border payments. This was paper based, involved coordination with multiple teams at different locations, transit hassles and lack of visibility on the status of transactions. When the pandemic struck in March 2020, our payments started to get affected because of the national lockdown and due to the sudden shift to working from home, we had to look for a digitised solution without compromising on any possible regulatory ramifications at a later stage and facilitate remote access for all teams. We explored options with our banking partner BNP Paribas India who suggested the implementation of Document Exchange Connect (DEC). DEC is an automatic digitised platform that cuts down time, paperwork and helps in real-time tracking of payments status to all stakeholders at various locations.”
Ramboll is BNP Paribas’ first client in India to onboard DEC and use it widely. Apart from enabling the continuation of authenticated payments through the workflow with the finance team working from home, the platform also offered many other value propositions and enhanced our operational efficiency, added visibility to live transactions and improved controls. The Finance team had to be trained on the new system to ensure continuity and with support from our banking partner, our team onboarded the new platform in less than 45 days with no business interruptions.
“Collaboration was key” adds Sumit “Our teams had to work in sync with each other, the new digital platform and our banking partner, and through efficient collaboration, we managed to fully migrate to DEC in a short span of time.”
Akrosh Saxena, Director for Ramboll’s Support Centre and Finance & Accounts Middle East & Asia Pacific stated “This is a great achievement, my hearty congratulations to the team for their relentless efforts and this win is just a manifestation of the hard work and collaboration the team has displayed especially through the uncertainty of last year. Using DEC has significantly helped us reduce paper consumption and the associated carbon footprint of transiting documents to multiple locations, aligning us more closely to our sustainability goals.”
BNP Paribas India nominated Ramboll in India for the ‘Best Payment and collections solutions’ category which was followed by the team replying to an extensive questionnaire detailing all aspects of the banking solutions that we use. Further, a round of discussion with representatives from Triple A Asset company was conducted and we were declared winners following their internal assessment process. The awards were held virtually this year due to the prevailing COVID-19 situation and travel restrictions around the world.
Congratulations to the team!