Date Posted: 8/11/2009
Pepsi Bottling Group Wins 2009 TAWPI Innovation Award
for use of AnyDoc®REMIT™
TAMPA, FL — August 10, 2009 — AnyDoc Software, Inc., an industry-leading developer of automated document, data capture, and classification solutions, announced today their longstanding client Pepsi Bottling Group, Inc. (PBG) has won the 2009 TAWPI Innovation Award in the Payments Automation category, for their automated solution implemented by KeyMark, Inc. within the Accounts Receivable (AR) department to process $15 billion a year in remittances.
Presented by The Association for Work Process Improvement (TAWPI), the Innovation Award recognizes an implementation that achieves new levels of efficiency and value from the use of transaction-based images and data. Winning solutions demonstrate creative problem-solving through both technology and redefined business processes.
PBG, located in Somers, NY, manufacturers, sells, distributes, and services approximately 55 percent of Pepsi-Cola beverages and other national brands in the United States. PBG makes approximately 60,000 deliveries a day, leaving an invoice on the spot for payment. As a result of their extensive distribution network, PBG’s AR team currently processes the payments for 15 million invoices annually, totaling approximately $15 billion.
Already more than a decade-long client of solution provider KeyMark, Inc. and software developer AnyDoc Software using template-based technology, PBG realized as time and available technology progressed, they needed a more powerful automated AR document and data capture solution. In 2007, PBG selected AnyDoc Software’s AnyDoc®REMIT™ solution to capture remittance data without the use of templates to increase the speed of
processing and overall throughput without increasing costs.
AnyDocREMIT is designed specifically to eliminate the manual data entry associated with capturing data from incoming remittances and checks, including line item details. AnyDocREMIT’s AnyApp™ technology eliminates the need to create a static template for each customer, allowing PBG to easily and automatically capture data from tens of thousands of unique customers’ remittances. In addition, the solution automates the process of manually matching the captured remittance data to the appropriate invoice data contained in PBG’s Oracle Financials system.
Each day, PBG’s Oracle Financials system receives a cash feed generated from lockbox payments processed through the bank. Oracle—using a combination of EDI remit data and customized in-house algorithms—automatically applies the cash payments, closing out 29 percent of the open invoices. The remaining unapplied cash payments, and their associated images, are then fed into AnyDocREMIT. AnyDocREMIT uses its AnyApp™ technology to capture the necessary data regardless of where it is located on the page, without the use of templates. PBG saves time and money by reducing the amount of time required to process incoming payments and by applying cash faster.
Currently, PBG processes the payments for 15 million invoices per year at a cost of six cents ($.06) per remittance. Seventy-five percent of their remaining remittance payments are processed automatically and they have been able to reallocate their resources. The remaining 25 percent of payments are manually processed, primarily because they require customer interaction. Net result: they have reduced their six-day processing cycle time down to a single day.
When PBG takes a big-picture look exclusively at the data capture portion, over the 15 year period from 1995 to 2010, they have reduced their Annual Total Cost of Cash Application by $700,000 with a one-time $400,000 investment. Looking at it as a "single investment" and "single win," this equates to a payback period of approximately seven months.
About Pepsi Bottling Group, Inc.
The Pepsi Bottling Group, Inc. (NYSE: PBG) is the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages. With approximately 67,000 employees and annual sales of approximately $16 billion, PBG has operations in the U.S., Canada, Greece, Mexico, Russia, Spain and Turkey. For more information, please visit
www.pbg.com.
About KeyMark, Inc.
KeyMark, Inc. is a leading document capture, management, and workflow systems provider founded in 1996. They combine cutting-edge technology and innovative minds to create customized solutions that resolve today’s business issues and anticipate tomorrow’s. KeyMark has helped clients increase efficiencies and decrease operating costs in various industries including: healthcare, accounts payable, accounts receivable, government, insurance, lending, and human resources. To learn more about KeyMark, visit www.keymarkinc.com.
About AnyDoc Software, Inc.
AnyDoc Software has been developing award-winning document, data capture, and classification solutions since 1989. Thousands of companies worldwide rely on AnyDoc solutions to eliminate millions of hours of manual data entry while improving their productivity and data accuracy. Any paper form or document including invoices, remittances, and checks can be automatically processed with full data capture without the need for manual keying. Clients include: Fastenal Company, Sony Pictures Entertainment, BlueCross BlueShield, the U.S. Census, LeasePlan, Coop, and more. For additional information, please visit www.AnyDocSoftware.com.
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