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10 Things YUM! Brands Gained by Implementing AP Automation

This article explores how YUM! Brands implemented AP automation, resulting in operational efficiency, enhanced reporting capabilities, and increased invoice visibility. Learn about their top 10 benefits and the value added by internet invoicing.

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10 Things YUM! Brands Gained by Implementing AP Automation

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  1. 10 Things YUM! Brands Gained by Implementing AP Automation Dave Lowe – YUM! Brands May 2014

  2. A Little About Yum! Brands • Annual revenue of approximately $13B • Process 1.1+ million invoices annually • Largest restaurant company in the world • 39,000+ units around the globe

  3. Internet Invoicing at Yum! Brands • Primary driver for implementation • Elimination of paper invoices • iPayables platform in place since January, 2011 • 4,600 vendors activated • $664+ million processed through system

  4. Yum!’s Top 10 from Implementing #10 ELECTRONIC APPROVAL

  5. #9 AUTHORIZATION POLICY COMPLIANCE

  6. #8 VENDOR PORTAL • 24/7 vendor visibility • Allows vendors to effectively manage their business • Reduced vendor calls • Down 57% • Vendor support • 100% free to vendors

  7. #7 OPERATIONAL EFFICIENCY

  8. #6 ENHANCED REPORTING CAPABILITIES

  9. #5 INVOICE VISIBILITY • Visibility to see as soon as submitted by vendor • No more “I mailed it” • Visibility to see who it is waiting on for action • No more wondering who’s desk it is laying on • Critical for capturing needed accruals • Visibility to see what action was taken • No more “I didn’t do it”, complete transparency

  10. WORKFLOW REPORTING

  11. Documentation stored electronically on invoice

  12. Participation post approval

  13. #3 INVOICE TIMELINESS • Increased speed of expense recognition • Elimination of mail • Changes in vendor invoicing behavior • 99%+ receive on time payment

  14. #2 PROCESSING ACCURACY • Significant reduction in the opportunity for processing errors • Most input required by vendor • Processing rules built into the system

  15. #1 WORKFLOW • Previously had no electronic workflow • Decided upon 3 distinct workflows • Store level • Above store • Capital • Workflow is driven by template

  16. Internet Invoicing = Value Added Partner

  17. Questions?

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