Don’t Get Duped: How PepsiCo is Getting Rid of Duplicate Vendors and Duplicate Payments
Digi Event at SSOW
March 18, 2021
• Joni Geurts, Director of Accounts Payable, Fraud at JetBlue Airways
• Danny Thompson, SVP, Market & Product Strategy at apexanalytix
Processing over 8 million invoices in the US is a lot. More than a lot. PepsiCo knows that even if they are the best run accounts payable (AP) operation, they will make overpayments. So every year PepsiCo has apexanalytix perform an AP recovery audit.
PepsiCo spends a minimal amount of time approving claims, gets substantial returns, and receives data-backed insights on why those overpayments were made.
Recently, a higher percentage of recoveries were associated with duplicate payments. What is a key factor? Duplicate vendors in the vendor master.
PepsiCo does not want to accept this as “part of the business” anymore and deployed apexanalytix’s smartvm solution to identify and remove duplicate vendors. Watch the webinar to hear Julie Becker, Accounting Operations, Sr. Manager at PepsiCo, and Akhilesh Agarwal, SVP, Global Business Partner Technology Solutions at apexanalytix, while they discuss:
• PepsiCo Intro: $60 billion in spend. 3 ERP’s across 50+ entities. A lot of suppliers.
• Time required for an apexanalytix recovery audit
• Why address duplicate vendors?
• Process to remove duplicate vendors
• smartvm: How it identifies duplicate vendors and validates supplier data
Cash Management Suite
Max Supplier Adoption, Max Discount Yield
apexanalytix Ultimate Supplier Management
Transforming Procure to Pay End to End
Preventing Duplicate Payments
How the Right Technology Controls Deliver Lock-Tight Protection Against Disbursement Losses