Over 45% of Businesses Surveyed Struggle to Maintain a Single, Complete, Consolidated Vendor Master but the Stats don't Lie About Consolidated Vendor Management...
$3M Recovered from 6 suppliers for an energy services company $2M Payment errors identified and recovered for a large bank $3M Recovered for a technology client who was paying sales and use tax on the same purchases. $1.5M Recovered for a client that paid tax on non-taxable software. $2M+ Recovered in annual rebate claims $10M Recovered for a global pharmaceutical company
30% of duplicate payments stem from duplicate vendor records. With $60 billion in spend and 3 ERP’s across 50+ entities PepsiCo knows that even the best run accounts payable (AP) operations are at risk of making overpayments. To reduce this risk, PepsiCo has apexanalytix perform an AP recovery audit every year. Recently, a higher percentage of recoveries were associated with duplicate payments and they wanted to alleviate this problem by removing duplicate vendors in their vendor master.
Join the session in which Julie Becker, Accounting Operations Sr. Manager at PepsiCo, will provide an overview of their operations and explain how they are addressing duplicate vendors in their vendor master with smartvm - a tool that integrates over 650 trusted data sources into its validation process.
Additionally, Akhilesh Agarwal, SVP, Global Business Partner Technology Solutions at apexanalytix, will walk through a demo of smartvm to highlight how it validates supplier data and identifies duplicate vendors.
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