Coca-Cola Uses Taulia's E-invoicing Technology
As part of an effort to drive efficiency and automation, Coca-Cola Bottling Co Consolidated has selected Taulia’s Invoicement Suite to automate its invoice processing, improve supplier relationships, and reduce supply chain costs through dynamic discounting.
Shortening the payment cycle and enabling dynamic discounting creates a win-win situation for buyer and supplier. While achieving greater early payment discounts, suppliers benefit from the immediate payment and need to rely less on banks for their short-term financing needs, lowering receivables costs and days sales outstanding (DSO).
“In 2010 we set very ambitious goals for upgrading our accounts payable [A/P] and procurement processes – a lean, centralised processing of invoices, reduction of paper invoices by more than 50%, highest level of automation and, on top of that, ways to provide our purchasing department with the best possible leverage when negotiating discounts,” said Marcia Golden, director A/P at Coca-Cola.
“After conducting an in-depth research and comprehensive evaluation of technologies and solutions available to help us achieve these goals, Taulia’s solution emerged as our solution of choice,” continued Golden. “Among the deciding factors were Taulia’s extensive SAP background and expertise for optimising A/P and procurement processes, its software-as-a-service [SaaS]-based solution, which has minimal internal IT requirements. The solution is SAP-certified and includes an automated dynamic discounting optimiser and a vendor portal.”