Consider the Flowchart Below (Figure TB13-4)

Consider the flowchart below (Figure TB13-4). Use the generalized model of business process management discussed in the text to recommend improvements to the acquisition / payment process depicted. As a reminder, the steps in the generalized model of business process management are: (1) Select the process and define its boundaries. (2) Observe, document and map the process steps and flow. (3) Collect process-related data. (4) Analyze the collected data. (5) Identify and prioritize potential process improvements. (6) Optimize the process. (7) Implement and monitor process improvements.