Big Lots Simplifies Sales Audits by Associating POS Receipts Directly with its SAP Financials

This presentation details how leveraging SAP POS Data Management application and nearline storage options help to ensure the vast amount of highly varied retail transaction data created across the company is easily accessible, improving audit response time and increasing productivity. Manish Garg, Director, SAP CoE at Big Lots and Dr. Werner Hopf, CEO and Archiving Principal at Dolphin, discuss:

  • Big Data volumes generated by POS-DM require solutions such as nearline storage, which provide the performance and speed required for reporting on business-critical data
  • Associating POS-DM data with Financial transactions reduces the number of systems and steps required to generate audit reports
  • Archiving POS data ensures adherence with data retention policies, providing additional cost savings and mitigates risk
[marketo-fat form="407"]
twitter22x22LI22x22RSS22x22

Big Lots Simplifies Sales Audits by Associating POS Receipts Directly with its SAP Financials

This presentation details how leveraging SAP POS Data Management application and nearline storage options help to ensure the vast amount of highly varied retail transaction data created across the company is easily accessible, improving audit response time and increasing productivity.

Manish Garg, Director, SAP CoE at Big Lots and Dr. Werner Hopf, CEO and Archiving Principal at Dolphin, discuss:

  • Big Data volumes generated by POS-DM require solutions such as nearline storage, which provide the performance and speed required for reporting on business-critical data
  • Associating POS-DM data with Financial transactions reduces the number of systems and steps required to generate audit reports
  • Archiving POS data ensures adherence with data retention policies, providing additional cost savings and mitigates risk
twitter22x22LI22x22RSS22x22

Pepco Holdings: Optimizing Accounts Payable Processes

Pepco Holdings Inc. (PHI) is one of the largest energy delivery companies in the mid-Atlantic region wanted to centralize its accounts payable processing to increase efficiencies and lower processing costs. The company had grown gradually through acquisition, and as a result, was receiving, reviewing, approving and processing invoices at more than 20 locations in four states and five jurisdictions. The accounts payable processes were disjointed and very manual, which increased the company’s cost of paying invoices and made it difficult to stay in compliance with the highly regulated industry’s stringent data retention requirements.

Solution
As part of PHI’s Invoice Improvement Project (IIP), the company implemented Dolphin’s Process Tracking System for Accounts Payable (PTS-AP) solution with the Supplier Portal by Taulia, for the following key capabilities:

  • Advanced imaging and digitization of invoices
  • SAP-enabled workflow solutions to automatically post or route invoices based on the company’s multi-tiered corporate approval policy
  • Centralized, efficient storage of invoice images for easy access
  • Self-service portal access for self-service invoicing and online inquiries
  • Real-time analytics and reporting on invoice processing metrics for productivity, cash flow, and status tracking.

The solution was rolled out across all three of PHI’s utility companies, Delmarva Power & Light, Atlantic City Electric, and Pepco, in a comprehensive process-driven initiative unlike any other accounts payable project in the utility industry.

Results

The company was able to achieve over $3 million in savings for 2014 – an incredible return on investment. Mary Gabriel, Manager of Accounts Payable and Sarbanes-Oxley stated “Enhanced controls, increased transparency and shortened cycle times are a direct result of the process-centric innovation the solution provides”. Key results include:

  • Reduce the average invoice processing time from 30 days to less than 10
  • Automated the processing of low-dollar, high-volume invoices
  • Improved reporting and compliance with regulatory requirements
  • Reduced document storage fees by 39% for savings of more than $100,000 each year
  • Increase transparency with their suppliers and strengthening their relationships
  • Captured nearly $2 million in discounts in by offering early payments to their suppliers through the intuitive supplier platform

In June 2015, the company received the Supply Chain Excellence award from Southeastern Electric Exchange for its innovative Accounts Payable project.

Download_PDF

Effectively Leading Change in the Finance Organization

Business Finance, May 2012

Change is constant, and it’s critical that financial organizations adapt to meet the needs of current economic conditions. This article will discuss how to become a catalyst for change by reinventing key processes within your finance organization, including accounts payable, accounts receivable and general ledger activities. It will demonstrate how optimizing back office functions like accounts payable and accounts receivable can deliver real value to an organization, and provide insight into how to effectively drive this change.

Click here to read the full article on Business Finance Magazine.

Download_PDF