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

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.