World Fuel Services is 103 on the Fortune 500 list and based out of Miami, Florida. They provide marketing and financing for aviation, marine and ground transportation fuel products and related services to commercial and corporate aircraft, petroleum distributors and ships at more than 3,500 locations around the world.
World Fuel Services initially had a 100% manual process of using Excel and scrubbing the source trade data that comes from CXL in their reporting. Multiple team members using separate processes made it impossible to output reports into a format that was easy to audit, control, validate, or drill-down. In addition, the Excel-based manual process was fraught with risk of error and extraordinary effort - the limitations of Excel meant that their sheet kept crashing when multiple sheets were involved in processing data.
HOC was brought in by request from a partner working for one of the Big Four consulting companies. World Fuel met with the HOC team and was able to map out multiple areas of the business where they could leverage process automation. HOC probed deep to understand the internal function of the company and to bring about a solution with a strong attentiveness to understanding the client, the process flow, and the interaction of the systems and the files, . They realized there were significant opportunities for improvement due to suboptimal backend processes specifically due to the manual nature of the existing workflow.
HOC implemented the following changes:
By leveraging HOC's industry expertise, World Fuel Services has been able to generate these results:
Director, Financial Accounting & Reporting - World Fuel Services
We were trying to create a precise disclosure process with an underlying process that was anything but precise. As we went through the overall process we found so many things that we weren’t able to fix by ourselves. This is where the flexibility of the HOC team really stood out. They were malleable to an underlying broken process.
VP Global Controller - World Fuel Services