Liberty was asked to engage the procurement organization to identify where business process gaps had lead it to become over inflated, missed discounts due to late payments, and vendors threatening credit holds.

The company had grown via acquisition and never taken the time to consolidate all business processes in the procure-to-pay space across business units. They also had more than five different ERP systems and did not have holistic visibility into all of their open accounts payable. Both Finance and Supply Chain tended to operate in silos. They needed to come together to resolve the procure-to-pay efficiency issues which were resulting in missed discounts and vendor holds.

Liberty quickly created a consolidated open accounts payable dashboard across all five ERP systems. Within this dashboard, we created changes that had AP processors prioritize invoices that either limited issues with vendors threatening hold or had upcoming discounts. This quickly increased visibility and prioritization, increased discount collection by > 20%, and decreased vendors on hold list by 40%. The increase in discount collection alone would drive roughly $2M annually in savings based on the current negotiated payment terms.

Liberty also helped to drive requirements for additional reporting solutions that will drive the following outcomes:
-Productivity reporting of AP processors (i.e., invoices/day metrics and monitoring)
-Freight tolerance analytics (drive systematic changes for exception fallout)
-Payment term audit reporting (improve working capital by fixing term accuracy)