Become a Changemaker in AP How Take-Two Interactive Software is Going Digital
Presenters Ryan Cutright Rock Persaud Susie West Regional Vice President Director of AP CEO Tradeshift Take-Two sharedserviceslink Interactive Software
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Your copy of the slides The slides will be available after the webinar at www.sharespace.digital
Context 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
Poll Question 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
Take-Two Interactive Software
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? 8 | Confidential
2008 • In a paper intensive office, invoices took a long time to process. • Invoices sat on desks and sometimes got lost. | Confidential
2008 - 2010 • In 2008 we introduced workflow and scanning • Technology and process improvements allowed us get rid of 44 paper cabinets and streamline AP | Confidential
Improved AP processes and accountability Scanning and digitizing invoices helped Take Two Interactive Software achieve 95% invoice accountability | Confidential
Automation had a speedy return on investment Initially we expected an 18 month ROI, but we broke even in 9 months | Confidential
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 our suppliers. The dynamic discounting tool is turning us from a payment center to profit center. | Confidential
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 | Confidential
No more setting up one time vendors • Tradeshift Go is used to help avoid setting up one time vendors • It is also used for urgent payments and helps us pay suppliers quickly when needed | Confidential
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% | Confidential
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 | Confidential
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 | Confidential
| Confidential
The Tradeshift Difference 20 | Confidential
"At its most fundamental level, 52% of fortune 500 companies have digital transformation is about disappeared over the last decade, mainly the ability of organizations, its due to technology and supply chain leaders and employees, to adapt disruptions... 21 to rapid changes brought by evolving digital technologies." ...and 70% of supply chain projects fail because of poor supplier and user adoption Gerald C. Kane Digital Transformation Is a Misnomer, MIT Sloan Review 21
Tradeshift is an App Platform built on a Open Network 22 22 | Confidential
What We Do Traditional AP Automation Benefits An application ecosystem we are all familiar with Native 3rd Party Applications Applications 23
What We Do An application ecosystem built on a flexible platform 3rd Party Native Applications Applications Quyntess E- Logistics Risk Methods Buy Pay Go Apps Quickbooks Online Tradeshift Tradeshift Citibank Kompany Connection Mgr Apps 24
Supply Chain Payments and Marketplaces for the Fortune 5000 For more information call: 1-800-381-3585 or sales@tradeshift.com | Confidential
Thank you 26 | Confidential
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