Numerous acquisitions resulted in the need to integrate people, process, technology, and cultures of the accounts payable function into the Fortune 100 parent company.
Without the appropriate project management resources to transform accounts payable systems and processes, there would be a lack of consistency in existing processes and technology, confusing legal entity structure, many lines of business with different requirements and leadership teams, and a lack of process training and documentation. Failure to pay suppliers would result in business interruption due to suppliers refusing to provide goods or services.
Stache & Associates was responsible for Project and Change Management, including the application of methodologies, processes, tools and templates to achieve a successful integration in a fast-pace and ever-changing environment, specific to the accounts payable function and its touch-points.
Stache & Associates aligned system integrations and business processes in a post-merger environment with an emphasis on timely results. We employed Change Management approaches tailored to the client culture for those that were resistant to this change and communicated with impacted personnel for successful integrations. Stache & Associates consolidated the accounts payable functions from multiple locations to the corporate office which had impacts on people, process, and technology. We developed and delivered company-wide training for new systems and processes. In addition to the core accounts payable functions, Stache & Associates designed, developed and implemented new technology and processes within the document management function and performed analysis of the treasury department’s ERP system.
Accounts payable processes and technologies were standardized and consolidated, headcount savings were realized, control and visibility to vendor spending was improved. Additional benefits included improvements in purchasing leverage, cross-trained resources able to handle multiple geographies and lines of business (resulted in improved customer satisfaction and lower accounts payable turnover). Cash flow was also improved due to changing and effectively managing vendor terms. Within the vendor inquiry function, a centralized and dedicated team can now answer vendor questions more effectively, while the supporting imaging and tracking technology provides better visibility to the lifecycle of an invoice.
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