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Wake up and Smell the Coffee:

A Starbucks Guide to Achieving 77% Zero-Touch, Straight Through Cash Posting for 2 Million Payment Line Items Annually

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Date and Time : Thursday, September 21 | 1:00pm to 1:45pm CT

Webinar Details

Starbucks, the million-dollar American coffee company and coffeehouse chain, experienced 16% CAGR for five consecutive years. Processing over 2 million payment line items annually, the customer financial team had to evolve in order to support growth and drive adoption of low-cost electronic payment formats including ACH and credit cards

Join Martha, Director, Finance CPG Group at Starbucks as she spills the beans on how her team dealt with the challenges of constantly growing payment volume coupled with the reconciliation of electronic payment and remittance information across emails, email attachments, EDI files and customer web portals. Martha also explains how her team handled short-payments and discounts for hundreds of thousands of payments every month.

Learn how her team leveraged artificial intelligence based cash application technology to:

  1. Improve working capital by driving the adoption of low-cost ACH payments by automating the reconciliation of all incoming e-payments
  2. Refocus cash application resources on high-value tasks by eliminating manual consolidation of remittances from emails, web portals and EDI
  3. Fast-track the deductions process by automatically coding deductions as and when a short-payment arrives
  4. Achieve 77% straight-through processing rates even with challenges including incorrect or truncated reference numbers in the invoice

Speakers:

Martha McElroy-Rojas, Director, Finance CPG Group, Starbucks Coffee Company
Tammy Colburn, Senior Accounting Manager - AR, Starbucks Coffee Company
Allison Tanner, Strategic Account Executive, HighRadius

Date and Time:

Thursday, September 21 | 1:00pm to 1:30pm CT