We recently partnered with a leading food company on a finance assessment. This client is one of the most highly integrated fruit and vegetable processing companies in the US. The organization produces seeds and harvest crops, manufactures their own containers, and provides a wide range of nutritious fruit and vegetable products to American consumers. The organization is a publicly traded company with a conservative financial approach. The client’s commitment to the business helps to provide value through tangible results for shareholders and customers, while acquisitions and capital investment in technology for state-of-the-art facilities deliver value to all who are involved. In late 2020, the client engaged Clarkston for a finance assessment. The organization engaged Clarkston Consulting for the initial SAP implementation in 2009 and wanted to assess their current finance business processes to determine if operational efficiencies or business benefits could be realized using their current SAP software.
Some of the key impacts of this finance assessment are:
- Reduction in transaction processing
- Time savings for 3 FTE via Variance and Conversion Cost Analysis
- Savings of 6.5 FTEs through process automation of Vendor Invoice Management
- Savings of 3 FTEs and 50% reduction in deduction days outstanding through process automation of Cash Application and Deductions Management
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Coauthor and contributions by Vic Sison