Cenveo Achieves 93% Forecast Accuracy and 90% Productivity Improvements
Cenveo is the world leader in the management and distribution of print and related offerings, encompassing 20 facilities across the United States with a long history of delivering top value for customers.
Enterprise Liquidity Management results in $490K value in less than 3 months
Cenveo needed a way to improve visibility into overall liquidity and provide management on-demand insights into the performance of their strategic liquidity objectives. Their digital transformation in Enterprise Liquidity Management through Kyriba saw immediate, impactful results.
- Executive leadership needed reliable, real-time, actionable liquidity insights and on-demand scenario analysis.
- Disparate, labor intensive, and inconsistent treasury processes consumed 729 hours/month across a small team.
- Excessive labor intensity and process disparity in Cash Management, Cash Forecasting and Payment Workflows required more than seven hours a day to manage.
Journey to Digital Transformation
- Consulting firm Clearsulting executed a wholistic evaluation of people, systems, and processes, highlighting the need for liquidity management software. Once the requirements were understood, Clearsulting helped improve the invoice approval and payment process, optimized cash forecasting and cash accounting processes, and led the implementation of Cenveo’s Kyriba solutions.
- Cenveo leveraged Kyriba Value Engineering’s Collaborative Value Assessment (CVA) to help evaluate what to change, why change it, and why now.
“Kyriba’s Enterprise Liquidity Management platform achieved the CFO’s objective or reliable timely liquidity insights and enabled my team’s transformation from tactical to strategic business partner.”
Value Realization: 657 Hours Per Month
The Value Realization Assessment (VRA) enabled Cenveo to provide the current state review post Kyriba deployment, resulting in 90% productivity improvement, including but not limited to:
- Cash Management: 100% real-time liquidity visibility, 95 hours per month productivity gain.
- Cash Forecasting: 43% liquidity forecast accuracy improvement, 113 hours per month productivity gain.
- Liquidity Payment Optimization: Increases in data integrity and workflow controls ensured no loss of discounts, 137 hours per month productivity gain.
“The most critical step in our solution evaluation process included leveraging Kyriba’s Value Engineering service that helped us document what we need, why we need it, and why now is the time to execute.”
Cenveo & Kyriba: Strategic Business Partnership
- Supply Chain Financing: Evaluating upside potential of $17.7M in cash flow benefit.
- Business Interruption Claims: Beginning the process of filing for an estimated $1M benefit.