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DAK Americas Strengthens Vendor Relationships by Implementing an Automated AP Solution

The year 2011 was pivotal for DAK Americas, as the leading low-cost producer of PET resin led two major acquisitions and, as a result, more than doubled its production. The company’s already centralized, paperless, and partially automated accounts payable system had served the lean organization well up to that point, but it began to burst at the seams as late fees were incurred and lack of visibility tested vendor relationships. The leadership at DAK turned to a best practice, end-to-end AP solution to quickly deliver the added efficiencies it needed to resume the company’s low-cost competitive advantage.

Challenge

Despite having many best practices in place, DAK still experienced problems with its AP processes, and the growth associated with the 2011 acquisitions exacerbated those inefficiencies. While invoices arrived in electronic form, AP staffers still had to manually key the data into SAP. The manual process was slow and the inaccuracy associated with human touch points were commonplace.

Lösung

The project’s goals were twofold: to improve vendor relationships by increasing invoice processing efficiency and improve cash management by reducing late fees. DAK Americas decision makers searched for a simple and easy-toimplement solution that could show a solid return on investment.

Ergebnisse

With Tungsten’s automated solutions for AP processes in place, DAK is moving toward a more nimble, cross-trained AP department. Some staff members monitor incoming electronic invoices and drop them in designated ReadSoft folders where they are automatically pulled directly into the Tungsten software.

Fokus

  • Automated AP processing

Fallstudie herunterladen

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We had to find a way to use the staffing that we did have, and be able to achieve the same results with twice the invoice volume. I think we’re moving in the right direction and it’s going to be very valuable in the long run.
Carrie Horrocks
Assistant Controller, DAK Americas

About DAK Americas

The year 2011 was pivotal for DAK Americas, as the leading low-cost producer of PET resin led two major acquisitions and, as a result, more than doubled its production. The company’s already centralized, paperless, and partially automated accounts payable system had served the lean organization well up to that point, but it began to burst at the seams as late fees were incurred and lack of visibility tested vendor relationships. The leadership at DAK turned to a best practice, end-to-end AP solution to quickly deliver the added efficiencies it needed to resume the company’s low-cost competitive advantage.

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