Masterclass for O2C GPOs with Gunther Smets | Cargill (Part 3 & Part 4)

Nathan Booth (0:00) 

Alright, so we’re going to be going live through attendees. So if attendees are joining in at the moment, I would like to welcome them. We’re going to be just a couple more minutes until the start of our session. So please just hang tight. And we will get started here shortly.

Nathan Booth (0:47)  

All right, welcome everyone, I can see that we have some audience members in the waiting room, or I’m sorry, joining in on the session already, which is great. And we’ve got just a couple more minutes. So the beginning. So hang tight, and we’ll get started here shortly.

Nathan Booth (1:59)  

I’d like to welcome everyone else who is joining in and we are just about a minute away from the beginning of the session. So we’ll start here in just a moment.

Nathan Booth (2:40)  

All righty. Well, hello, everyone. Good morning, or good evening. And thank you for joining this session. My name is Nathan booth and I will be your facilitator. I wanted to apologize for the technical difficulties of the last session. But if you’re coming back, thank you again. And please be sure to check back before the end of the day for a recording of that session. Just a couple of notes. Before we get started, all participants will be on mute. So if you have a question, please enter it into the Q&A section to the right of your presenter’s screen. And then the recording of today’s session will be available by the end of the day. And if you want a copy of the presentation right away, please visit the Shared Services Tech LinkedIn page which can be found in the details section of this webinar. Also, we’d appreciate it if you took some time to leave a review on the session or send some love our way with those little hearts again, which can be found in the details section. So that being said, welcome to Masterclass for Order to cash GPOs. This is the second session of the two-part masterclass that Gunther Smets, Global Operations Lead for Credit to Cash at Cargill is hosting. So if you’re joining us for the first time, the recordings of the first session are available in yesterday’s agenda, and you can watch those on demand. Gunther has been at Cargill for almost 15 years in various roles within the financial risk area as the near counterparty risk lead, the Global Credit Manager for animal nutrition enterprise, Forex, and commodity risk. And since the last year as Global Credit to Cash Process Manager, it is a pleasure to have you presenting today and again for this class. And before we start the session, we have a poll for the audience to get some insights. So I’ll go ahead and start that now. Ladies and gentlemen, just a moment while we get this poll started, I apologize.

Nathan Booth (5:25)  

All right.

Nathan Booth (5:47)  

All right, I apologize. But we’re not going to be able to launch that poll at the moment. So that’s where I’m going to go ahead and hand it over to you now to present the session. So why don’t you take it away?

Gunther Smets (6:00)  

Yeah, thank you, Nathan. Well, welcome, everybody. For the ones who didn’t attend yesterday, Welcome to this session. It’s not necessarily following the previous session, as well. And for the ones that are back since yesterday, thank you for joining again. Um, to immediately dive in. And to give a bit of an overview. So yesterday, what I covered then was a bit of my journey as a global process owner, within order to cash credit to cash within Cargill, where we started, how we went through the different stages of that, and then how we moved from purely from a service delivery perspective into value at and impacting revenue and working capital. So that was yesterday’s content. For today, we’re really gonna focus on wide benchmarking. What’s the value of data to drive towards Process Excellence? And what are some of the measurements and the measurement categories that we are taking into consideration here? And then immediately at the back of that, I’ll jump into standardization harmonization. How do you go about standardizing some of the processes and some of the lessons learned that we had in that area as well? So that’s for today. Now, the first immediately on this one now for Process Excellence and for benchmarking for it. I think the key call out and it’s one of the key learnings that we had internally and that we can continue to have as well is that anecdotes and popular science are the death of any strategy and is through transformational projects, not only in Cargil but with previous companies that I worked for, you see that a lot of as you go through high transformational elements, that a lot of it is driven through escalations with a high amount of change, there is also a high amount of resistance to that. And if you don’t have the transparency through the data and the visibility that you can create, anecdotes will, will surface and will be and will be escalated and you’re starting to manage through escalations instead of through data and insights that you provide. Or being able to reference where you are right now versus where you want to be. And the other element in there is equally unpopular science and saying well, but in the market says this, or the market says this, or there is if I look at these five customers, that’s a representation of a total portfolio or whatever is. So there is a bit of an older saying that there in its correlation is not causality. So there’s a lot of things that as you go through a transformational project as you go through a process-driven or process transformation, that you will always find a certain level of correlation between two different aspects. However, that doesn’t mean that there is a causal connection between those two items, which also refers very much back towards anecdotes and, and that Popular Science and which to me is the essence if I have to start anywhere, why bother in benchmarking and making sure that you’ve got the right baselines that you have the right metrics that you have the right visibility, the right dashboards towards all of your stakeholders. It’s because of this, if you don’t, you’re gonna drive through the anecdote of the day, or the escalation of the day, or the piece of popular science of the day, and you’re constantly chasing it’s very destructive and time-consuming. So to start out this session immediately with a very bold statement. Now if we talk about benchmarking or measuring on how we are doing, then it’s really within a few key areas within there. And in these key areas, they’re driving different kinds of traffic transformational aspects or different elements of you want to deliver within your strategy as well. It really creates a common language that can be used to drive the discussion as well as you go forwards within your transformation. Now, to go over each of those components, the first one, that’s there is volume metric. And volumetric data is everything regarding the number of transactions, that you have the number of iterations that you have within a certain process within there. It’s how many people that you have and what your total cost is versus the number of transactions that you have. Now, what this allows us to do and continues and it’s something that we’re really focusing on as to look at the full capacity of volumetric data is that you can look at what is the scope of transformation? So where do I get the biggest bang for my buck? How can I prioritize within a certain area within there as well, if you can see on volumetric data to give a very practical example, is I’ve got x number of FTS in to provide on my audit to cash services. And this is my total revenue that I have within my organization. This is the level of complexity that I have, if I compare it to certain market standards, I need to deliver on x percentage of efficiency. Now volumetric data will then start to slice and saying, Well, how many transactions do I have in a certain area versus how many collectors Do I have versus the number of customer contacts that they are driving versus the total receivables that they are managing? And what is the improvement opportunity that I have at the back of it, but it equally allows us on regarding capacity planning? The majority or most businesses do have a significant level of seasonality within how they are dealing with business as well. That means as well that, and it’s something that we’ve learned within Cargill, historically, the resourcing of the organization was very much done towards the peak of a season, so everything was resourced at the peak. So that meant that there was a lot of low-hanging fruit as well from an efficiency because you don’t necessarily need the resource purely to cover your peak. And there’s different kinds of segmentations or distribution models that you can use to bring down your peak workload as you would have at a certain element. With the volumetric data, you can do proper capacity planning, you can also start seeing and saying well if my organization grows to a certain extent, this is what the impact is to my operational finance organization and how I need to size up or size down depending on how your organization continues to grow. But the prioritization element on a heat map of opportunity using that volumetric or debt process data within there is a key component that takes away really that anecdotal component, what we had before volumetric data was to an escalation and saying, you need to do something in this area. Because look, I’ve got this example or this customer complaint about something, therefore it’s the priority. Well, if that’s a one, in 10,000 cases event, you might not be bothered than saying, well, that’s good, let’s work on that customer. But it’s not really a priority area. So looking at how you can make something more data-driven instead of anecdotal driven through volumetric data is essential. 

The second box, as we have it in here, is efficiency data and efficiency data is really focused on what is how efficient is our process, but also how efficient are we operating? So what’s the run rate that we have as an organizational model as well, so what’s the total cost or a genie that we’re driving through the processes in here with that as well, it’s linked towards some of that volumetric data or business process mining, because equally on process efficiency, and it allows which is already a bit of a link into the second session that we will have or the second lesson of what we will have today is to start measuring to what level or you’re standardizing your process. You can have a standard process or a golden process or whatever you want to call it, which is stop day sale or which is the shining example needs to be. However, defining and implementing a standardized process does not equal adoption. And we see a high level of inefficiency by having a standardized process. But then still having a lot of legacy processes that weren’t shut down. That consists next to it. So basically, in an efficiency, if you look at your, your process metric within there, you will be equally able to measure the level of adoption within your standardized processes that are in there. So what’s the inefficiency? Or is that standardized process not working to certain scenarios within there, it allows us to go to what is your FTE reduction, your budget, your forecasting your automation percentage service level agreements. So there is a whole list of these kinds of, of metrics. And if anybody would be interested afterwards, we’re always happy to share some of more specific metrics that we would have under detail there to measure the efficiency of it. Next to that, you’ve got the effectiveness. And the effectiveness is the service or the added value that we create for our business partners for our customers. There are a few listed in here as examples. So excessive credit would be insane, well, you have a certain risk appetite that you have identified for an individual customer or for a portfolio. And there’s always certain exceptions, where we will release more business towards, towards what was originally approved as a maximum threshold. And but you have some exposure, which is above of those credit limits, which is unapproved, which would be a default against the policy, but also with a risk that you didn’t necessarily price down within the market itself. traditional ones like overdue accounts receivable that we would have, and then within the different aging buckets that’s in there, but also then linking it back towards what is the efficiency of a certain process at the back of it. So none of these elements live in isolation. And an overdue is, is a great example, if we see you manage your overdue through collection strategies or collection strategies, the intent of them is that they are proactive and predictive. So, therefore, that we set them up based on the ability and the willingness to pay of our customers based on internal and external data. Now, the effectiveness so the lagging indicator that you see is the result that you can get in your overdue percentage. So how much trade receivables do I have? That’s over the due .date of the invoice? If that trend that’s in there goes in a negative direction, then it’s the root cause analysis and saying, Is this because my collection strategy is inefficient? Or is there something more towards an a market dynamic or something else that might be going on? So none of those elements or the benchmarking or the metrics live in isolation from each other? There are very much in synergetic. Within there, the last one in there is dispute stays outstanding, which equally comes down as well is how can we measure customer experience within their dispute days outstanding? It’s not only a working capital impact that you would have, but it equally would be insane. What’s your customer experience? in dealing with Cargill? How quickly Are you resolving a disputed item as it would be popping up within there? So strike the right data and ask the right questions. It’s a very high-level sentence, as we would have it in here on the right data and the right questions, but it’s critically important. 

Gunther Smets (19:12) 

It’s one of the items of what we see, saw is that it It fits with your maturity level in the early stages when we started out, then you’re gonna start choosing around metrics where it’s about a percentage of process fragmentation. So what is it you haven’t migrated everything yet of what you wanted to migrate or your activity or your organizational placement isn’t necessarily where you wanted to be yet. So you really want to measure and saying, How much am I moving the needle? What is the percentage of fragmentation that I have, you’re still rolling out your technology within your landscape to enable some of the digital solutions, efficiency and effectiveness solutions towards the future. So you’re targeting on what is my percentage difference? appointment on my target technology, you’re going to look at very baseline operational KPIs and effectiveness targets within they’re really looking at those metrics, why, what, what matters to me most at this point in time of my strategy, what is with my key stakeholders, within my executive team within my main business partners, what’s front and center of their mind, which is going to be a different set of metrics and a different set of benchmarks in an early stage, or as you progress, versus what you would have within a mature stage within their business process mining. That’s where we are heavily investing in right now. So that you can have process scoring for automation and continuous improvement. a practical example would be in saying, well, you take a Data Cloud for 1 million orders that you have on an annual monthly whatever kind of frequency basis that’s in there, how many of those orders are going on hold, so that they would be blocked and need to have a certain kind of process in there. And how many steps does it take before that order is then released again, to towards the customer? So, therefore, we will first assess and seeing what’s the process efficiency, we want to have a maximum percentage of orders that goes on hold on the total population, otherwise, our threshold or materiality threshold, would not be sufficiently graded. Plus, we want to touch have a minimum amount of touches before the order is released again, so preferably less than one because that means that you have an automated process at the back office. So that would be a digital fit rate on how you set it up with process scoring. But also look at the heat map of opportunity of where you have certain automation and continuous process improvement opportunities within there. Then dashboards for beyond the operational and so the analytical business insights and seeing what are some of the trends as we have going forwards as well? What are some of the learnings, what does the data tell us within there, which is questioning the data to go out of it and making sure that we you, you can navigate through the data that it tells the story at the back of it. So that really becomes analytical Business Insights, it’s proving out or telling the story to the data of the metrics which are relevant and right at that point in time for what the key objectives are for the organization as well, so that you have business value KPIs, a realization framework that you can continue to focus on, as well. So it’s not only about the metric on itself, it’s equally about how does that data trend going forwards as well? How does that allow you to achieve or make sure that you’re moving the needle into the right direction? Now, one of the elements that we learn to continuously is a challenge with dashboards, with metrics with any of those elements as well. And is that people love reports in general. And that’s why very briefly, going back to the previous ask the right, the right data and ask the right questions, is because your dashboard needs to be or your metrics, and the way you visualize them need to be holistic, they need to be an ecosystem of they don’t need to answer just one question. They need to answer what your strategic point in time is. The risk if you don’t is that you’re going to end up with a million different reports and that you spent a lot of time in generating metrics, generating reports, but not analyzing or acting upon them. It’s the visualization layer, the work that goes beyond it before that, to make sure and saying, am I taking the right data to answer the right questions or the ecosystem of questions? That is what the critical component is at the back of it as well.

Gunther Smets (24:20)  

Okay, I think, yeah. So metric strength analysis, which I already mentioned, within there as well, is it’s not only about one point in time, it’s equally about how do you continue to evolve? What’s your starting point? What is your positive or negative trends? What is certain seasonality in it, what are event triggers that you might have in there, so it’s more about what is a trend analysis than looking at a fixed point in time, as we would have it so Now, what’s next is next is also when looking at what are the capabilities of what we want to have in best in class, and so on some of the tools as we would have it within, within our landscape as well, to really look at what are the missing capabilities? And always ask that question on what’s next to towards ourself and towards there, there’s too much. Sometimes the assessments and saying, oh, we’re building this element, and it’s, it’s, we have now a visualization or reporting or a benchmarking platform. And this is great, and therefore it’s done. It’s not necessarily and especially within metrics, it’s never done because you’re always on a transformational journey within there. So the agility and the flexibility as well to look at benchmarking metrics. And as you go forward, needs to fit where you are at on that journey, and does not need to reflect on something that’s outdated, or where you were two years ago, or three years ago. So it needs to be very agile and dynamic as we go forward as well. So to end, this first section of the lesson, so first thing is that we have on for this element as well is make sure that we always benchmark so that we have the right kind of focus areas for benchmarking that we know where our data comes from, that we ask the right questions towards the data. And it answers the question on what the stakeholders have in mind as well, that we focus on more on analyzing the data instead of reporting the data in there as well. And that we continuously dynamic, dynamically choose the right metrics at the right point of where we are in the strategy and can analyze the major trends. So the focus is on not all reporting, but on analyzing the data that’s at the back of it as well. So that you can build a roadmap to what’s best in class digital transformation at the back of it. So thank you for the first session as same as yesterday will immediately dive into the second part of the of today’s lesson as well. And then at the end of it, we’ll keep some time open to address some questions. I’ll try to keep some more time open for questions as we did yesterday. So I’ll do my best. 

Gunther Smets (27:35)  

And then is regarding harmonization and global control and visibility. So it’s really about how do you move from a standardized or a decentralized and a very fragmented landscape towards process standardization, process harmonization. And what does it really mean? So why is it important? Now, right? So first thing is why is it needed and where to begin, and I’ll share a bit of the journey of Cargill, within there. When we started out, we were a very fragmented landscape. We had 70 business groups, we had multiple enterprises, we had multiple earpiece systems, a multitude of proxy systems, that was their activity placement, data accuracy. So it was a very disparate landscape. If you looked at people placement process, how processes were designed within the are different business groups as well, how did they that was structure and how core technology was leveraged. Now from that element. The first thing is to have as was in the session on Monday, as well, is to make sure that you’ve got a people process data technology strategy to go forwards as well. And standardization and harmonization of a business process is critical within there because otherwise, you won’t be able to allow or to leverage your skill as you have an organization it will be very hard to continuously implement improvement, continuous improvement landscape if you have to work through hundreds or 1000s of iterations as you have within your landscape as well. So it allows you to increase effectiveness it allows you to deliver on efficiency within your landscape to accelerate some of those elements. What was a very big question for us at the beginning of the journey? So at the beginning of the journey, we also started saying, well if we want to standardize we also need to first standardize on where the work is done. Instead of in a multitude of locations around it. We want to make sure that it’s that we leverage tertiary to Central which is going to deliver salary arbitration that’s going to deliver less duplication of work. We’re going to increase our service model as well, we can start focusing and investing on future-ready capabilities. And then the question arose and seeing what, what’s first Do you first standardize? Or do you first migrate so you do transform and shift? Or do you lift and shift? Now, what we’ve seen is that there is very much from our experience and just seeing on how Cargill went through this, that it was a different story at the different points in time. And at the beginning of our journey, when we just purely started migrating on a lot of those activities. And the requirement then was doing a lift and shift because otherwise, we would have done standardization over and over and over and over again for each of those business groups for each of those locations for each of those enterprises, where we said we need to first have some skill on something that we have that we can design a standardized and a harmonized process. And then from there or directly, I changed that within a larger scale than into the little iterations. Now, smaller iterations are within there. Now that equally has some challenges within there because you’re migrating basically you’re broken and fragmented process. So when you then move towards a shared service approach, where you normally already have a certain level of performance, that you make that performance that bigger. And so that’s a cost of the winner lift and shift approach at that point in time. Now, once that scale, and that we had built up that skill within our shared service organization, so let’s say that’s around, that you have a 50% or it starts from 40% -40 -50%, of activity placement within that shared service organization, then it starts to make sense to equally look and doing an assessment and saying, What is it now how do we start approaching it, it’s not necessarily only a lift and shift approach anymore, it can be a lift and shift approach if the effort of where it’s coming from is bigger than the effort that you would have to do when in the end state placement. So within your shared service approach, or you can make a decision to say no, for this case, we’re going to transform and shift as we go forward as well. So it was very much a journey on saying why is it needed it’s to deliver without standardized processes, you can’t deliver on anything else within your value keys or within your strategy as well. You need to start standardizing and harmonizing to be able to leverage your skill and to deliver on the efficiency and effectiveness of your strategy as well.

Gunther Smets (32:59)   

Now, how to harmonize those processes? There’s a few steps in here. So we called out four distinct steps in there. And there is actually one that’s not on here. But not specifically it’s on here, but not specifically called out. And that is, first of all define what is the capability that you want to have out of your process. So what do you want to drive? What does good look like, which already popped up in in a few of the previous sessions as well? But it really starts in defining and saying, What is it? What will it drive for the business? What is good based on that the first step to go towards the standardization is to assess the business readiness. And the business readiness is in in different ways it is from what’s the readiness from a stakeholder commitment and a stakeholder engagement, as you go through some of those change to change, agility and change readiness for different kinds of partners within your organization is going to be radically different. And it’s going to sometimes make a difference between make or break. Even if you have a very strong corporate mandate to push something through, then still, you’re going to have people who are facilitators, you’re going to have people that are resistors, to change as well. So to take that in consideration as you start standardizing some of those processes on what is that business readiness from a change mindset is a very important step already at that point. Equally important this to say, Well, how much does the process which goes in already as part of the second step as well? How much does the current process deviate from what your standardized or harmonized process is going to be? So how much are how big is the gap between those two elements within there, the bigger the gap The bigger the challenge, normally within their response, equally looking and saying what is the technology or the digital framework that you have in there? Are they still working on the legacy SRP? Not on target? DRP? Are they using different kinds of proxy systems? versus what your target solutions might be? How is that? What is that plug and play? Can you just move them? What’s the accuracy of the data, the validity of the data. So in assessing that business, stress, readiness, and tying that as well to what you’re towards the second step in understanding how everything is happening right now, having that baselining within there, spending the time to really understand what’s there, then you really can start going towards what’s the digital roadmap and what’s the organizational change that is required to really move to the transformational change process changes, you would have it within there as well. So, to go through all of those steps, some elements is the change order standardization occurs in different kind of moments in time from different kinds of triggers. So one element is as I referenced already, as during migration, which could even be either be a lift and shift approaching you then standardize it within the center where you move towards, or you do a transform where you standardize it from the sending side. And then you move it to the receiving side so that if during your transformational organizational transformational journey, another elemental for standardization is where you’re designing something on a global basis, within a certain process with a new technology that is that’s in there, where you’re going to have a roll up towards a year p deployment schedule or a digital deployment schedule, or linked to a regulatory compliance element of that. So where you would have scalable, which could be anywhere from a pilot towards going to a big bang approach, but more on a global basis within there, where you’re going to start standardizing some of those components, they’re within there at the back of a policy change or some of those elements and then manage the change organizationally. 

Gunther Smets (37:25)    

So that is change management is is is something changing communication are the two words that are probably within any transformational journey are used the most. And they’re the most elusive on to say, what does it really mean change management and what does it mean communication, transparency and clarity on where you want to go towards and why you do it are the easiest or the best things to be there. What I saw that sometimes it’s the most disruptive when you’re not sufficiently communicating. So over-communicating does not necessarily exist. But that you’re too high level too fuzzy and that means that people are going to read in a lot more within a standardization or a transformation and element versus what you had. What really is the case within there. The thing is and just it’s just a one-liner, as we have a few on the slides as well. But no one size fits all. I think there is sometimes a miss comprehension that standardization on harmonization means uniqueness, and these are not synonyms for each other. A standardized or a harmonized solution does not mean that everybody has to do the same thing. And that’s sometimes the biggest concern for our business stakeholders or stakeholders in general, that they say well, this will not work for my business. This note will not work for my market for my customers for whatever it is. And the reason why they are making that statement is they believe in saying I’m going to follow a rigid process a standardized process has a negative connotation to it. Now a standardized or harmonized process is to make sure that you leverage the same kind of technology to have the same kind of desired outcomes and capabilities within there, but that allows for the agility to meet all of your different requirements that you have within the different organizational setups that you might have. So going in and explaining that which equally goes back to the last point as well on that on that change management and saying standardization doesn’t necessarily mean that it just one size that will fit everything as well. So key takeaways of what we have on Process Excellence within there is understand why the harmonization is needed or the standardization is needed. So use the metrics from the first session as well to measure because that’s what you’re going to benchmarking. You kind of measured at the beginning and saying, I want to drive towards these results in efficiency and effectiveness and value case overall for the organization that I work with harmonization or Process Excellence is a critical part of that. And then ident, identifying and also qualifying to the rest of the organization, why it is needed, and also where to begin. So do the heat map of opportunities so that you don’t go overboard with the number of initiatives that you have, and then design that roadmap so that as we have Process Excellence, as we go forward, in in my organization, I’ve got a specific role, which is called the Process Excellence Lead. There will continuously Look at this. So this is not just a one-time element, this is a full-time critical role that is part of my leadership team that will look and work with all of our leads and regional leads as well to say, where are we right now from a process improvement? What is the volumetric data efficiency, effectiveness? What is it telling us? Where is our level of adoption? and that we continually designed redesign and, and achieve on the roadmap as we go forward as well. So with that, we ended on the Q&A. And I think I did two minutes better, versus yesterday to allow some time for questions.

Nathan Booth (41:33)   

Well, we’re happy to have you speak Gunther. And thank you again for this presentation. Yes, we have about four minutes left here at the end for questions. So I’ve got a couple on deck here for you, and we can go right into those. The first question is what has been your biggest obstacle in your transformation journey so far? And how did you resolve this obstacle?

Gunther smets (41:58) 

Then I’ll answer with maybe a top three because I wouldn’t be able to just mention just one. And there’s a lot of opportunities, but quite a few obstacles and challenges that you have within there as well. One of the obstacles that I would say is prioritization, as you go through it quite often, through the transformational journey we saw. We saw a huge amount of opportunities and saying how we need to improve this. And we need to improve that and prioritizing which led to an overflow of a number of initiatives that we wanted to drive at the same time, and they were all onesies and twosies, very small, kind of have changed elements within there. So making sure to prioritize and to have a scalable solution that’s in there that was and to then drive that going forwards as well, that’s been a bit of an obstacle. Because the governance around it, which is probably the underlying issue on it, as well, is, I’m gonna, I’m going to trackback here on my own word. So my apologies. But I think what the key obstacle that I’ve seen within our transformation is governance, and governance, what I mean with that is too many captains on the ship to have a very strong decision culture, and not the people-driven culture, where you can decide and saying, well, this is what the process organization is on the hook for, and the decisions that they take, this is what an operational organization is on the hook for, and what they decide and how they drive it. This is how my facilitating functions next with what they drive for me and what they’re on the hook for. But to continuously reinvent the wheel, and nothing having a clear governance model on where decisions and how decisions are taken. That has been, I must say, to call out one thing, my biggest obstacle that I would have

Nathan Booth (44:06) 

Great, great additions to come through. And let’s see, one more time for another question here. Um, Which KPIs Do you feel cannot be left out when measuring your operational excellence in your AR portfolio?

Gunther Smets (44:23)   

Well, it’s the, you’ve got some key metrics within an audit to cash base, and that you have that you always need to have that, regardless in what stage of the of your transformation are, which is what is my overdue position with the aging buckets in their excessive credit that I mentioned to what is my unapplied cash? What is my dispute date disputed the mounds that I have in there, so that are very tangible, operational items, which hits your P&L and hit your bottom line? So for sure, those are not, they would never change as you go forward, your targets next to them, of course, will change and they might be extended as you have more services or more visibility on them. But that’s a pretty robust part. Next to that on some of the other components, what I would say is to have the visibility regarding what is my run rate. So what is my cost of what I have, you go in with a certain kind of budget, and you go in with a forecast on what’s going to happen versus your budget that’s in there, and then measure your actuals based on your initiatives, that to me is a critical kind of KPIs next to those operational KPIs as you would have it or operational key metrics because it holds you honest. And everything within there on the initiatives that you drive, and all of the other KPIs and metrics need to result in the end into and saying, what was the value that those initiatives were going to bring? So to look at your dashboard, as you would do with the CFO and saying, What was my budget? What was my forecast? And what are my actuals and then having the story behind it to understand it? That to me would be the critical thing.

Nathan Booth (46:13)  

Great, thank you, Gunther, for answering a couple of those questions. And I can see we’ve had more questions come in for the audience. And I do apologize. I don’t think we have time to get to all of them today. But I promised that we will go ahead and forward these questions to Gunther and he’ll be able to follow up with you separately. And share more on this presentation. And thank you so much for sending in these questions and giving your feedback. I wanted to cover a couple more things. I would like to also announce that we have, you know, more learning and resources available coming up with our credit skills con June 14 through July 16. So we’ve got 17 expert trainers and 53 training sessions, spanning negotiations, financial statement analysis, collection calls, bankruptcy protection, credit policy, and a lot of other things. So please be sure to check out our academy.highako.com for more information on this event, and please be sure to tune into our last session of the day. Why has our why there has never been a better leader…a better time to be a GBS leader. it’s 10:45 Central time. So again, thank you everyone for joining in on the session today and comfortably follow up with your questions later today. And please check back for the recording. Thank you. Yeah, thanks, everybody.