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Pilgrim's Pride | |
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Overview If business success in the food industry were simply a matter of production, Pilgrim's Pride would have few equals. Pilgrim's is the second largest poultry producer in the United States. They process approximately 55 million pounds of chicken and 8 million pounds of turkey per week. Pilgrim's Pride is also a vertically integrated company that operates feed mills, hatcheries, grow-out facilities, processing plants and distribution centers. This allows Pilgrim's to have control over every phase and aspect of its highly successful business. Challenge Experiencing continual growth, Pilgrim's Pride found itself with a considerable challenge regarding invoice processing and accounts payable. With annual purchasing volume at around $1 billion per year and more than 220,000 purchase order (PO) and non-PO invoices being processed per year, Pilgrim's needed a better way to handle problem invoices that couldn't be processed for payment on the first try. Like most large companies using established enterprise application software solutions, Pilgrim's had challenges coordinating efforts to resolve invoice discrepancies in a timely manner. These challenges existed because of the manual processes used for resolving problem invoices and resulted in the following inefficiencies:
Pilgrim's Pride selected Optura's Vendor Invoice Management solution to streamline problem invoice processing and solve invoice handling problems. Optura Vendor Invoice Management integrates workflow and Web services technologies with in-place ERP systems to create a composite application that optimizes and automates problem invoice management and resolution. Vendor Invoice Management ties seamlessly with ERP systems, such as Pilgrim's existing SAP implementation, using established invoice exception best-practices management. Optura prepackaged solutions accommodate 28 of the most common invoice exception scenarios. In addition, custom solutions can easily be developed that automate resolution with business rules, workflow, approvals and actions. Pilgrim's made the decision to buy this solution from Optura rather than build it internally, saving time and money and also allowing them to take advantage of the pre-determined, best-practice policies and automated workflows built into the solution. Results Pilgrim's Pride has easily realized its cost-saving objectives. Upon implementation of Optura Vendor Invoice Management, Pilgrim's experienced immediate improvement with measurable and quantifiable results over time. Payoffs include:
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