In 2009, when executives of Lille, France-based Decathlon looked to their growing company’s future, they realized that their existing risk management technology would soon be incapable of meeting their needs. Decathlon is an international creator and distributor of sports products that produces an average of 3,500 new products each year and employs more than 50,000 workers globally. Along with sports product research and development, Decathlon operates more than 700 retail outlets in 30 countries as well as several online stores and ships some 500 million products every year from warehouses around the globe.
As Decathlon evaluated its needs for risk management technology, it became apparent that workflow automation would be an essential element of the company’s move toward enhancing the efficiency of its risk management program. (Interestingly, workflow automation was rated as one of the top benefits derived from risk technology in Aon’s 2012 Global Risk Technology Survey.
As Decathlon expanded its operations into additional countries, the company realized that it would also be dealing with more insurers and brokers; managing more claims; and consolidating more information from disparate IT networks. With more than 100 companies in 30 countries, Decathlon ships some 500 million products to stores every year from warehouses around the globe. Decathlon identified the need for a tool to enhance the autonomy and access to information of the many different players in its increasingly complicated risk management network.
Decathlon turned to Ventiv to meet its growing risk management technology needs. We spoke with Christophe Molina, Decathlon’s group risk manager, about how RiskConsole has helped the company streamline its risk management operation. Molina is responsible for implementing risk management and insurance frameworks for the corporation.
“Decathlon is a network of autonomous companies, with decentralized information networks,” Molina explained. “It was, therefore, crucial to have systems that make it possible to collect, consolidate and disseminate all the information necessary for Decathlon’s insurance program. For instance, we needed a risk management information system capable of managing claims processes as well as delivering robust risk reporting, analysis and reporting.”
Switching to the automatic claim notification by the store immediately saved up to 250 work hours in the Insurance department. Also, extracting information directly from financial accounting has resulted in a gain of around 12 working days (corresponding to one day per month previously devoted to verifying financial information, manual data extraction and communications). This gain of time has been reallocated to higher values missions, such as claims statistics analysis.
Decathlon chose RiskConsole to replace their existing system for several reasons, including its Internet accessibility, multi-language capability and intuitive ease of use, all of which promised to improve the flow of information throughout the company.
“Today, RiskConsole is at the heart of Oxylane risk management. Our focus is on continuous improvement, and RiskConsole makes it possible for us to overhaul many of our processes for greater efficiency.”
“It quickly became apparent that RiskConsole was the solution that best suited our specifications. It allows for easy transfer of our complete history and offers intuitive functionalities and ease of use,” said Molina. “The system also appealed to us as a solution with a room for growth because it could be upgraded for our future needs. We also appreciated the RiskConsole affiliation with the Aon group.”
According to Molina, RiskConsole has succeeded in helping Decathlon employees become more autonomous, and in turn, more productive. The risk management team, for example, no longer produces monthly claims reports since those are automatically available to managers, to their individual specifications, directly in RiskConsole. The same is true in the event of product accidents, in which case quality coordinators and product engineers can access pertinent information in RiskConsole at any time without the assistance of the risk management department.
Increased productivity both within the risk management team and in various subsidiaries translates to cost savings for the company, Molina noted. “It’s important to note that the integrated data structure in RiskConsole is organized in such a way that it will continue to help us optimize our cost of risk in the future,” Molina added.
For future use, Decathlon is looking at utilizing some functionalities of the Business Intelligence tool as well as implementing the email function and automating their in-store safety checklist that captures loss prevention recommendations.
“Today, RiskConsole is at the heart of Decathlon's risk management,” Molina observed, “and we include it in any consideration of new processes or improvements to existing ones. Our focus is on continuous improvement, and RiskConsole makes it possible for us to overhaul many of our processes for greater efficiency. We are evolving on a regular basis, and the team at Ventiv responds quickly to our requests for modifications and upgrades that we submit several times a year. They also introduce us to new functionalities, and we’re anticipating several new upgrades in the near future.”
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