Dynamic Discounting, Supplier Self Services and Workflow
Transcript of Dynamic Discounting, Supplier Self Services and Workflow
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AP Overhaul:
Dynamic Discounting, Supplier Self-Services and Workflow
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Introduction
Marcia Golden, Accounts Payable Director, Coca Cola Bottling Co. Consolidated
Bertram Meyer, CEO
Taulia Inc.
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Today’s Agenda
Coca-Cola Bottling Co. Consolidated Highlights
December 2010 Goals & Objectives Issues We Were Facing Project Business Case System Evaluations & Selection Process 2011 Implementation Project Rollout
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2012 Grand Finale Our Success Story Change in Focus to Dynamic Discounting
Opportunities Role of Procurement Remaining Course of Action for 2012 Lessons Learned Questions & Answers
“How did we ever do without it?”
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CCBCC Highlights
Began operations in 1902 in Greensboro, NC Currently largest independent Coca-Cola
bottler in U.S. $1.7 billion in revenue Approximately 6,000 employees Five manufacturing facilities, 70 sales and
distribution centers and provides 185,000 vending machines to our customers
Approximately 130 million cases of product sold annually
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December 2010
Goals & Objectives
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Issues We Were Facing
Large amount of paper invoices received daily Lack of transparency into invoice location and
audit trails No visibility of unrecorded liabilities Manual discrepancy resolutions Lack of Chart of Authority compliance Large amount of resource time to provide
service to our suppliers
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Project Business Case
Engage Sr. Management Support Conduct market research for Best Practices Determine Business Requirements
SaaS application SAP compatibility Real time processing Easy to implement with limited internal IT
resources
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Project Business Case
User friendly application Supplier portal for digital invoice submission
and supplier self-service Dynamic Discounting Electronic approval routing with audit trail Online discrepancy resolution Complete invoice visibility and status Overview and spend analysis reporting
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Evaluation & Selection Process
Evaluation of 4 SaaS vendors that closely met our defined business requirements
On-site application demonstrations Multi-functional business and IT resource
involvement Vendor and software comparison matrix Selection and negotiations
Taulia Inc. Project plan development with key milestones
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2011 Taulia Implementation Four Module Implementation
#1 Taulia Supplier PortalDigital invoice submission
Manual invoice entryPO flipEmail File uploadElectronic file transmission
Supplier self-service Invoice and payment statusProfile updates
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2011 Taulia Implementation
#2 Taulia Dynamic DiscountingEarly payment option in exchange for
invoice discount functionalityCurrently limited return on short term
investment
#3 ReadSoft Invoice CockpitTotal transparency of all invoices, status
and audit trailSingle area for invoice processingUnrecorded liability visibility
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2011 Taulia Implementation
#4 ReadSoft Web CycleElectronic approval routing based on HR
feedChart of Authority complianceElectronic check request formDocument attachmentsThumbprint audit trail
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Project Rollout
Phase I – Supplier Portal & Dynamic Discounting
Supplier listing with transaction count and spend
Phased tiered supplier rollout Supplier communications Supplier portal invitations Portal enrollment Digital invoice submission
Manual, PO flip, Spreadsheet upload, electronic file
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Project Rollout
Phase II – Invoice Cockpit Accounts Payable work area Invoice validation for accurate data capture Invoice type categories for easy filters
Invoice based on PO Invoice not based on POCheck requestsPosted invoices Invoices with errors Invoices rejected In approval workflow
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Project Rollout
Phase III – Web Cycle Determination of end users Hierarchy upload from HR Chart of Authority inclusion Check Request form development Project Communication Training Webinars End user support team
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2012 GRANDE FINALE
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Successful Results!
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All phases successfully implemented and “Live” in late October of 2011
Internal personnel eager to adopt the new system – very helpful to implementation
54% of Invited suppliers enrolled within five weeks
90% of enrolled suppliers use the portal
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Other Successes
Electronic approval process now enforces the company Chart of Authority .
Complete invoice transparency and audit trails =big hit with users, managers and vendors
Visibility of unrecorded liabilities aids financial reporting .
Through attrition, 1.5 AP staff positions eliminated due to process efficiencies and streamlining.
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A Few Surprises
Dynamic Discounting far more important than originally expected
Role of Procurement is critical to negotiations with vendors and adoption of the new system
Audit trail of the who, what, and when history of an invoice creates huge time savings for customer service inquiries – adds accountability
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Action Items for us in 2012
Increase the # of suppliers enrolled in the portal and that submit invoices electronically
Take advantage of further automation opportunities:
During invoice data validation, set OCR tolerances to only show exceptions = a confidence level
Automate email attachment “ingestion” into the system
Create invoice logic in the system that automatically posts certain invoices
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Lessons Learned
A SAP certified solution for a “SAP shop” is key:
Very low IT resources required, buy-in from IT
Security preserved by using standard SAP transactions in the background
End product is a seamless integration
End user acceptance is excellent
Users promote portal usage from their vendors
Visibility has benefits far beyond A/P
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Lessons Learned (cont.)
Think through the rollout phases:
Implement internal and A/P systems first
Rollout supplier portal and dynamic discounting after internal systems are in place
This allows time to focus on supplier adoption and communication with them
Use your “clout” as a customer – require vendors to invoice electronically
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After the hard work is done, we think you will also ask:
“How did we ever do without it?”
Now we’ll show you how it’s done!
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Solution Demonstration
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Questions & Answers