Software is Going Digital Presenters Ryan Cutright Rock Persaud - - PowerPoint PPT Presentation

Become a Changemaker in AP How Take-Two Interactive Software is Going Digital

Presenters

Susie West CEO sharedserviceslink Rock Persaud Director of AP Take-Two Interactive Software Ryan Cutright Regional Vice President Tradeshift

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Take-Two Interactive Software is a leading developer, publisher and marketer of interactive entertainment. They own labels including Rockstar Games which publishes games including Grand Theft Auto V, which reached $1 billion in sales faster than any entertainment release in history. This company is a changemaker, and to be one you must have the vision to design the future, the will to implement your vision, and the leadership and compassion to manage the consequences. In this webinar Rock Persaud, Director of Accounts Payable at Take -Two Interactive Software will discuss how they're executing their vision for change, what's driving them, what they've learned along the way, and the pitfalls to avoid. Today we will explore

• How finance departments are adapting in a rapidly changing, digital environment
• Take Two Interactive Software’s Journey to go digital?
• How they overcame the more painful aspects of change

Context

Where are you on your AP automation journey?

• We are highly manual, paper based
• We are manual, but looking to automate in the next 12 months
• We are looking to automate further in next 12 months
• We have recently gone live with e-invoicing
• We are highly automated

Poll Question

Take-Two Interactive Software

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In Conversation

❖ How is your business changing and what does that mean for your role? ❖ How are you transforming? ❖ What are the most painful aspects of change? ❖ What does success look like?

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2008

• In a paper

intensive office, invoices took a long time to process.

• Invoices sat on

desks and sometimes got lost.

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2008 - 2010

• In 2008 we

introduced workflow and scanning

• Technology and

process improvements allowed us get rid

• f 44 paper

cabinets and streamline AP

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Improved AP processes and accountability Scanning and digitizing invoices helped Take Two Interactive Software achieve 95% invoice accountability

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Automation had a speedy return

• n investment

Initially we expected an 18 month ROI, but we broke even in 9 months

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Early payment discounts Previously, early payment discounts were negotiated with top 25 vendors (i.e. 2/10 net 30). With Tradeshift, we can extend discounts to all of

• ur suppliers.

The dynamic discounting tool is turning us from a payment center to profit center.

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Improving procurement Tradeshift’s procurement tool is replacing our ERP to create purchase orders We wanted to create an ‘Amazon-like’ shopping experience for procurement

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No more setting up

• ne time vendors
• Tradeshift Go is

used to help avoid setting up

• ne time vendors
• It is also used for

urgent payments and helps us pay suppliers quickly when needed

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Digital transformation

• We moved from fully

manual to workflow, but we were still touching paper

• We want to stay up to

date and modern, so it was time for us to go paperless and touchless

• We are close to 55%

STP, and we need to move to 90 or 95%

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E-Invoicing

• Vendors

integrate their invoices into our system

• PO invoices are

straight through, non-PO invoices go to workflow

• We have gone

from totally manual to totally digital

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Change management

• Communicating the

benefits change is essential

• Automation doesn’t

necessarily mean job loss

• Know the capabilities of

your ERP before implementing technology

• Think about what will

make technology still feel modern 5-10 years from now

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The Tradeshift Difference

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"At its most fundamental level, digital transformation is about the ability of organizations, its leaders and employees, to adapt to rapid changes brought by evolving digital technologies."

Gerald C. Kane Digital Transformation Is a Misnomer, MIT Sloan Review

52% of fortune 500 companies have disappeared over the last decade, mainly due to technology and supply chain disruptions... ...and 70% of supply chain projects fail because of poor supplier and user adoption

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Tradeshift is an App Platform built on a Open Network

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Traditional AP Automation Benefits

An application ecosystem we are all familiar with

Native Applications 3rd Party Applications

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What We Do

Risk Methods Quyntess E- Logistics Citibank Quickbooks Online Connection Mgr

An application ecosystem built on a flexible platform

Native Applications

Buy Pay Go

3rd Party Applications

Tradeshift Tradeshift Apps

Apps

Kompany

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What We Do

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Supply Chain Payments and Marketplaces for the Fortune 5000 For more information call: 1-800-381-3585

• r

sales@tradeshift.com

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Thank you

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