Case Study

Keurig Dr Pepper

Keurig Dr Pepper Uses Trintech’s Reconciliation Solution to Provide Consistency to all its General Ledger Reconciliations

Identify Balance Sheet Opportunities and Analyze the Risks at the Touch of a Button

Main Challenges:

  • Manual processes lead to increased time, risk and costs across the reconciliation process

Key Objectives:

  • Deliver a solution to automate and standardize general ledger reconciliations

Return on Investment:

  • Streamlining existing processes and identifying continuous areas of improvement moving forward

Every month, Keurig Dr Pepper accounting resources are responsible for reconciling approximately 2,100 general ledger accounts. Using Excel templates, the Keurig Dr Pepper finance team manually tracked the submission and status of each balance sheet reconciliation.

The staff was asked to attach a screenshot of the SAP balance, ensuring the accuracy of any given reconciliation. “We had optimized manual processes to the best of our ability,” said Terri Anderson, Keurig Dr Pepper’s Vice President, Assistant Controller. “But tracking risks and opportunities in the balance sheet via Excel had become far too time-consuming.

Objective

Keurig Dr Pepper required a configurable, automated workflow engine that would allow managers to define rules within accounts prior to sign-off, providing consistency to all general ledger reconciliations. Additionally, the solution needed to eliminate manual, error-prone processes and automate the retrieval of account balances and activity to speed the financial close. The solution also needed to provide management with real-time dashboard reporting and dynamically highlight risks and opportunities within the balance sheet.

After researching several solutions, Keurig Dr Pepper selected Trintech’s Certification software solution. Certification provides Keurig Dr Pepper with true visibility into the status of every general ledger reconciliation and increased compliance and accountability throughout the organization. Certification also allows for a more efficient method of communicating with auditors and more timely access to data and KPIs to support executive decision-making.

Solution in Action

After a 90-day implementation process, Keurig Dr Pepper began using Certification. Almost immediately, the company was able to reallocate resources to more strategic initiatives. “Implementing Cadency educated us about the best way to streamline our own processes and helped us to do just that,” said Anderson. “The more we improve, the more we learn how the tool can support those efforts.”

 

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About Keurig Dr Pepper

Keurig Dr Pepper Inc., formerly Keurig Green Mountain and originally Green Mountain Coffee Roasters, is a publicly-traded American beverage and beverage-maker conglomerate with headquarters in Burlington, Massachusetts. Its east-coast division sells coffee and other beverages, and Keurig brewers. As of July 2018, the newly merged conglomerate also sells sodas, juices, and other soft drinks via its Dr Pepper Snapple (also called Dr. Pepper/7up Inc.) division based in Texas.

Trintech Solutions in Use: Cadency Reconciliation Certify