Cargill?s Transition to Lean and Simplified A/R Through Process Evaluation and Benchmarking


An insightful summary of how these GPOs made their A/R future-ready while reducing costs, improving metrics and keeping their customers happy!

Contents

Chapter 01

Decoding GPO?s Challenges

Chapter 02

Cargill?s Transition to Lean and Simplified A/R Through Process Evaluation and Benchmarking

Chapter 03

Air Products Journey to Global Credit Risk Management for 170,000+ Customers

Chapter 04

Keurig Dr Pepper?s Paradigm Shift from Outsourced to Customer Centric In-housed

Chapter 05

Danone?s Discovery on How to Choose the Right Technology for Automating A/R Processes in SSOs

Chapter 06

Summary

Chapter 07

About HighRadius
Chapter 02

Cargill?s Transition to Lean and Simplified A/R Through Process Evaluation and Benchmarking


The Challenge: Complex IT Landscape

Like many global giants, Cargill initially used to work out of decentralized business units having 50+ ERPs and no centralized customer master data. However, when they tried to ?lift + shift? to a centralized shared service model, they realized that didn?t have any integrated model that could support their multifaceted IT landscape consisting of: Complex IT Landscape

The Solution: Find Process Maturity Gaps Through Process Evaluation and Benchmarking

In order to tackle the complex IT landscape challenge, Cargill went with ?lift + transform + shift? by understanding the maturity gaps in their process, implementing the simplest transformation first while leaving the global standardization task for post-migration. This is how they deciphered the maturity gaps in their process: deciphering the maturity gaps After benchmarking against industry standards and setting external goals for key metrics that resonate with best-in-class standards, Cargill also evaluated the processes internally by diving them into different levels making it simpler to determine the maturity gaps in their A/R processes. Moreover, they set up internal goals based on internal best practices that could be implemented globally.

Best Practices for Transforming Complex A/R IT Landscapes

Best practices suggested by Gunther Smets, Order to Cash Global Process Owner at Cargill ? Set clearly defined goals for each of your A/R processes ? Choose a single integrated receivables management platform for easier implementation, management, and global standardization ? Implement in phases to continuously monitor results and avoid fallouts

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HighRadius Credit Software automates the credit management process, enabling credit managers to make highly-accurate credit decisions 2X faster and enable faster customer onboarding with 4 primary components: configurable online credit application, customizable credit scoring engines, credit agency data aggregation engine, and collaborative credit management workflow. Along with that, there are a lot of key features that should definitely be explored some of which are online credit application, credit information aggregation, automated credit scoring & risk assessment, credit management workflows, approval workflows, and automated bank & trade reference checks. The result is faster customer onboarding, better internal collaboration, higher customer satisfaction, more targeted periodic reviews, and lower credit risk across the company’s customer portfolio.