Agriculture Giant Archer Daniels Midland Company (ADM) Boosts Productivity and Payment Metrics Across the Board
Agriculture Giant Archer Daniels Midland Company (ADM) Boosts Productivity and Payment Metrics Across the Board
3 PagesSummary Archer Daniels Midland Company (ADM) is one of the biggest agricultural processors in the world with $90 billion in sales in 2014. Since May 2014, the company has relied on Tradeshift to standardize process for all of its shared services centers worldwide. Goals included reducing their reliance on temporary staff, increasing on-time payment rate and discount capture, improving error resolution, and getting rid of the paper in the process. In less than a year, ADM was able to: • Improve early payment discount capture rate by 24 percent • Lift on-time payment rate by 30 percent • Reduce invoice processing time by about 22 days • Eliminate manual data entry for invoices from onboarded suppliers • Lessen the need for temporary staff Problem ADM’s procure-to-pay journ
