Successful completion of EY and the Ministry of Finance project

Today many countries are reviewing their internal processes to improve the effectiveness of management. One such country is Uzbekistan, which is rethinking old approaches and using re-engineering to achieve more effective management.

Uzbekistan has begun a large-scale transformation of processes, and one success story is the Ministry of Finance, which, with the help of EY, has transformed 61 business processes in nine budgeting and accounting/reporting functions.

One example of re-engineering is the new process “Treasury servicing of foreign currency expenses,” which combines two processes, “Conversion of foreign currency” and “Treasury servicing of foreign currency expenses,” which were handled by the same employees. The combined target process was designed in accordance with best practices: paperwork was eliminated (i.e., reduced from 18 steps to 0), and automated steps were increased by a factor of 2.5. As a result, the following indicators were reduced:

• The overall number of steps to be completed by 63%
• The number of roles by 40%
• The number of approvals by a factor of 6  

The completed project yielded to the basis target operating model, the updated catalogue of business processes and the target IT architecture of the Ministry of Finance of Uzbekistan.

The project, “Assessment of Current Opportunities for Optimizing, Re-Engineering and Automating Business Processes in the Ministry of Finance of the Republic of Uzbekistan,” was completed on schedule.

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