How General Mills Puts Cash on the Table with AP Reviews
Ultimate Supplier Management
English - October 14, 2021 14:00 - 50 minutes - 34.7 MB - ★★★★★ - 1 ratingManagement Business accounts payable procurement supplier management vendor management Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Jeff Heinrich, Global Process Lead for P2P at General Mills, is a champion of procure-to-pay best practices. General Mills continuously refines SAP to catch duplicate payments then the AP team runs an internal review as a secondary pass. The company also relies on apexanalytix to complete a 90-day rolling statement audit and an annual duplicate check analysis to find anything that has fallen through the cracks.
General Mills’ recoveries are well below the industry average because of good process controls. But a recovery audit still makes financial sense. The last review returned nearly half a million in duplicate recoveries and $1.75 million in statement recoveries, adding valuable working capital to the business and pinpointing problem areas.
Listen to the interview with Jeff to learn:
Webinar slides: https://bit.ly/2XrQ1uJ
Webinar video: https://www.apexanalytix.com/video-how-general-mills-puts-cash-table-ap-reviews
Speakers: