Snack giant unlocks savings to fuel growth
A multinational food and beverage company reinvents Order to Cash and Source-to-Pay.
Companies are redoubling their efforts to give customers what they want when they want it in this highly competitive industry.
A fast-growing multinational food and beverage company wanted to become the global leader in the snack food market, but its fragmented finance and procurement processes meant it couldn’t keep up with changing customer demands or the company’s rapid growth. Employees worked in silos and the company’s operating margins were lower than its peers. Procurement, which was spending more than US $18 billion with suppliers annually, didn’t have visibility into spending and payments were often delayed and duplicative, posing an unnecessary risk.
To grow and meet customer demand, the company leaders knew they had to transform the core order to cash (OTC) and source-to-pay (STP) processes. The business saw shared services as an integral way of attaining greater efficiency, market responsiveness, improve productivity, grow the bottom line and meet customer demands.
Using SynOps, Accenture’s platform that connects intelligent technologies, talent and data and analytics, to move their OTC and PTP operations to an intelligent operating model would help to drive efficiency, accelerate business growth and help the company safeguard its financial health.
$217 million in working capital freed up due to improvements in process efficiencies, up by 34%. Enhanced productivity, analytics and automation helped strengthen management of customer payments.
The procurement team has implemented new technologies, analytics and ways of working have generated $23 million in identified savings.
Using SynOps to accelerate its move to intelligent operations, the company operates faster and more efficiently and generated more than US $550 million in savings. The company can invest these savings in new products and better customer and supplier experiences.
in working capital savings due to new sustainable OTC processes that have improved efficiencies.
addition in cash flow, due to improvements in days payable outstanding (DPO)
increase in correct customer invoices through touchless cash applications that automatically match payments.