Keurig Dr Pepper Reveals the Role Automation Played for them, Saving $2.5 Million in One Year

98% (hit rate) payments applied by the system automatically
92% of short payments identified automatically
56% of FTEs from the cash application team reallocated to other A/R operations despite a 19% increase in the volume of payments

Cash Application

Claims & POD Automation

Business Transformation Stories

We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.

Coleen Zdrojewski
Vice President – Financial Services
Dr Pepper Snapple Group

Challenges

How did HighRadius help

Impact

Heavy Reliance on 3rd Party Vendors for Cash Application

The financial services team at Keurig Dr Pepper relied on 3rd party vendors, outsourcing their Cash Application and other A/R functions to control costs. This led to limitations such as restricted access and control. Moreover, outsourced contracts prevented shifting to other platforms or discontinuation of services before the contract period. They thus decided to reevaluate whether they wanted to continue their contract or move operations in-company to have more power and visibility over their processes.

Better Control With Insourcing, but New Challenges into Sight

Keurig Dr Pepper leaped by deciding to move their cash application process in-house, but new challenges appeared. The biggest issue the teams faced was that they were strapped for time to cover all critical accounts.

Manual Remittance Capture From Different Sources: Analysts had to spend a lot of time retrieving remittance data from emails and downloading them from customer web portals.

Disparate Data Sources for Payment Capture: Customers paid through various payment formats, including checks, ACH, and wire. Analysts had to manually link every payment and remittance and coding deductions.

KDP wanted a solution that could eliminate non-value tasks through automation. They wanted a solution that could help them automate globally, with minimal need for constant revision and to handle upgrades in the future without causing any hassles. They required centralized infrastructure and, most importantly, a way to cut down on draining manual tasks.

ABOUT KEURIG DR PEPPER

Keurig Dr. Pepper is a leading beverage company in North America and the first to bring hot and cold beverages together at scale. Formed in 2018 with Keurig Green Mountain and Dr. Pepper Snapple Group merger, Keurig Dr. Pepper has annual revenue of over $11 billion and nearly 27,000 employees.

INDUSTRY

Consumer Products – Food & Beverage

REGION

North America

REVENUE

$12.18 billion

PRODUCTS

Cash Application Cloud
Claims and POD Automation

Acing In-House Operations with A Plug and Play Software

By leveraging technology to automate their processes, KDP achieved operational excellence by improving staff utilization and enhancing productivity.

Automated Remittance Capture

The cash application team at Keurig Dr Pepper was able to save on time and resources lost in manual remittance aggregation with automatic aggregation of remittance data without having to download them from web portals or emails. Further the Multi-OCR Engine auto-captured accurate remittance data from checks.

Automated Invoice Matching with Seamless Capture of Payment Information

The solution enabled the team to automatically match invoices with the payment. All critical payment information such as payer name, bank fees, currency was captured to ensure faster payment remittance linking.

It was once an error-prone and hefty task to deal with the enormous amount of invoices coming in daily; now, even with an increase of 19% in that volume, 56% of the FTEs could be reallocated to other critical tasks.