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10 Things YUM! Brands Gained by Implementing AP Automation
Dave Lowe – YUM! BrandsMay 2014
A Little About Yum! Brands• Largest restaurant company in the world– 39,000+ units around the globe
• Annual revenue of approximately $13B
• Process 1.1+ million invoices annually
Internet Invoicing at Yum! Brands
• iPayables platform in place since January, 2011– 4,600 vendors activated– $664+ million processed through system
• Primary driver for implementation– Elimination of paper invoices
Yum!’s Top 10 from Implementing
#10 ELECTRONIC APPROVAL
#9 AUTHORIZATION POLICY COMPLIANCE
#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 OPERATIONAL EFFICIENCY
#6 ENHANCED REPORTING CAPABILITIES
#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
WORKFLOW REPORTINGInvoice Number Base Total Due Invoice Date Payment Terms Requestor Email Vendor Number Bill To Were goods/services for a store? Status1238984 297.50 02/13/2014 N45 [email protected] 0000113555 PHIAP Yes Submitted1245981 2477.54 02/25/2014 N45 [email protected] 0000113555 PHIAP Yes Submitted21413 159.00 02/20/2014 N1 [email protected] 0000002620 YUMAP No Submitted22142 138.00 02/15/2014 N45 [email protected] 0000104569 TBCAP No Submitted22149 146.00 02/15/2014 N45 [email protected] 0000104569 TBCAP No Submitted22162 146.00 02/21/2014 N45 [email protected] 0000104569 TBCAP No Submitted2013288291 2621.16 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288301 2697.13 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288311 2482.52 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288321 2641.26 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288331 2528.17 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288341 2401.73 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288351 2540.30 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288361 2374.18 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288371 2184.81 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288381 2286.11 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2013288391 2310.83 02/27/2014 N30 [email protected] 0000031949 TBCAP Submitted2206082 1008.00 02/19/2014 N15 [email protected] 0000035664 YUMAP No Submitted4902590113 4232.72 02/20/2014 N30 [email protected] 0000129640 KFCAP No Submitted5213642113 2259.57 02/20/2014 N30 [email protected] 0000129640 KFCAP No Submitted729105214 5168.00 02/26/2014 N30 [email protected] 0000129640 KFCAP No Submitted2444068 1358.27 02/24/2014 N30 [email protected] 0000127732 TBCAP No Submitted16560 3300.00 02/19/2014 N30 [email protected] 0000189731 PHIAP No Submitted16561 18600.00 02/19/2014 N30 [email protected] 0000189731 PHIAP No Submitted34016 750.00 02/18/2014 N30 [email protected] 0000059350 YRI01 No Submitted100110424 41241.34 02/14/2014 N10 [email protected] 0000179203 TBCAP No Submitted100110425 34890.00 02/26/2014 N10 [email protected] 0000179203 TBCAP No Submitted105 20000.00 02/26/2014 N30 [email protected] 0000183700 TBCAP No Submitted25950 677.50 02/20/2014 N30 [email protected] 0000078345 KFCAP No Submitted25951 79.00 02/20/2014 N30 [email protected] 0000078345 KFCAP No Submitted
Documentation stored electronically on invoice
– Participation post approval
#3 INVOICE TIMELINESS
• Increased speed of expense recognition– Elimination of mail
• Changes in vendor invoicing behavior
• 99%+ receive on time payment
#2 PROCESSING ACCURACY• Significant reduction in the opportunity for processing errors
– Most input required by vendor– Processing rules built into the system
#1 WORKFLOW
• Previously had no electronic workflow
• Decided upon 3 distinct workflows– Store level– Above store– Capital
• Workflow is driven by template
Internet Invoicing = Value Added Partner
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