Accounts Payable Process Mining
Industry:
CPG
Service(s):
Celonis Process Mining
Problem
Fortune 500 CPG company did not have clear visibility into specific financial and accounting processes. Leadership believed that working capital was being drained because of inefficiencies in their data and their processes
Solution
Implemented Celonis to conduct task mining and gain better visibility into financial processes. Validated data from out-of-the-box capabilities with process owners to ensure data and KPI accuracy. Enhanced analysis to fit specific business requirements and identify opportunities for improvement
Result
Validated mismatches between vendor master payment terms and invoice payment terms. Automated reporting to proactively flag mismatches when invoices are sent with incorrect terms for actioning. Realized > $7 Million in annual savings in working capital impact