Optimization of Collection and Cash Management: An Operational Audit Approach

Abstract

Cash management from accounts receivable is one of the procedures that entails the highest risk and materiality in a company's operations. In this context, this article examines the current management of the customer portfolio of a company engaged in the commercialization of refrigerants and chemical compounds in Guayaquil. According to an external audit report dated October 20, 2024, the company has allegedly experienced misappropriations of these assets. Through a detailed analysis of the collection process and cash reception, the underlying causes of the problem will be identified and prioritized. The applied methodology follows a combined approach that integrates the phases of operational auditing with the Double Diamond framework of Design Thinking. The main objective is to improve the efficiency of the collection process by developing an applicable solution that mitigates the risks associated with cash management without affecting the company's operations. This approach focuses on analyzing current procedures, conducting interviews with key personnel, observing the collection process, and formulating a continuous improvement proposal. As a result, this research led to the creation of “AppRecibos”, an application that verifies in real time the amount collected by the salesperson against the amount paid by the customer, providing reliable support for cash collection transactions.