Keurig Dr Pepper Reveals the Role Automation Played for Them, Saving $2.5 Million in One Year
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- HighRadius Cash Application Software
- HighRadius Deduction Solution
Tech Stack
- AI-based Solution
- Multi-OCR Engine
- Software-as-a-Service (SaaS)
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
- Customer Satisfaction
- Employee Satisfaction
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Analytics & Modeling - Machine Learning
- Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
- Food & Beverage
Applicable Functions
- Business Operation
- Quality Assurance
Use Cases
- Predictive Maintenance
- Process Control & Optimization
- Remote Asset Management
Services
- System Integration
- Software Design & Engineering Services
About The Customer
Keurig Dr. Pepper is the first to bring hot and cold beverages together at scale. Formed in 2018 with Keurig Green Mountain and Dr. Pepper Snapple Group merger, Keurig Dr. Pepper has annual revenue of over $11.6 billion and nearly 27,000 employees. Keurig Dr Pepper (KDP) operates 22 manufacturing and bottling facilities and more than 100 warehouses and distribution centers across North America. The company is the 8th largest food and beverage company in the US, known for its wide range of beverage products and extensive distribution network.
The Challenge
The financial services team at Keurig Dr Pepper relied on 3rd party vendors, outsourcing their Cash Application and other A/R functions to control costs. This led to limitations such as restricted access and control. Moreover, outsourced contracts prevented shifting to other platforms or discontinuation of services before the contract period. A lack of metrics and statistics made tracking outsourced resource productivity challenging, causing inconsistencies across processes and creating complications for the A/R team. They thus decided to reevaluate whether they wanted to continue their contract or more operations in-company to have more power and visibility over their processes. Keurig Dr Pepper took a leap by deciding to move their cash application process in-house, but new challenges appeared. The biggest issue the teams faced was that they were strapped for time to cover all critical accounts. In the case of check images and remittances flowing in through disparate sources for e-payments, the team had to link every payment and remittance and code deductions manually. The A/R processes were utterly manual, and there were no worklists incorporated to help analysts prioritize work, leading to time-consuming, inefficient, and wasteful processes.
The Solution
By leveraging technology to automate their processes, KDP achieved operational excellence by improving staff utilization and enhancing productivity. The cash application team at Keurig Dr Pepper was able to save on time and resources lost in manual remittance aggregation with automatic aggregation of remittance data without having to download them from web portals or emails. Further, the Multi-OCR Engine auto-captured accurate remittance data from checks. The solution enabled the team to automatically match invoices with the payment. All critical payment information such as payer name, bank fees, and currency was captured to ensure faster payment remittance linking. It was once an error-prone and hefty task to deal with the enormous amount of invoices coming in daily; now, even with an increase of 19% in that volume, 56% of the FTEs could be reallocated to other critical tasks. The cash application solution was designed to provide a cohesive experience for the financial workforce at Keurig Dr Pepper. Once the solution was implemented, they realized immediate qualitative and quantitative benefits.
Operational Impact
Quantitative Benefit
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