Automation of Cash Application for Medtronic
Medtronic Achieves Automation Rates for Customer and Cash Accounting Flows As High As 96%
Having to handle 750+ bank statements and over 800,000 bank transactions every quarter across 250+ entities and 4 regions led Medtronic to automate the cash application process for bank statements as well as remittance advices.
Find out how Medtronic was able to achieve top automation rates in two value streams, invoice-to-cash (cash application) and record-to-report (cash accounting) thanks to a great team effort and the fully SAP-embedded Serrala solution FS² AutoBank – implemented in a fully virtual setting in 2020.
Medtronic was recognized as Highly Recommended Winner 2021 of the Treasury Today’s Adam Smith Awards in the category Best Working Capital Management Solution for this corporate treasury achievement.
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