From the November 2011 issue of Treasury & Risk magazine

Silver AHA Winner for Best Green Strategy

Changing Mindsets and Getting Rid of Paper: Kellogg

The treasury and accounts receivable groups at Kellogg, the $12.4 billion maker of cereal and convenience foods, were bogged down in paper, ranging from billing statements and foreign exchange confirmations to account analysis statements. As part of a company-wide Go Green initiative, treasury and AR worked together to eliminate as much paper as possible, and in the process have managed to save the company close to half a million dollars.

The amount of paper involved was staggering, like the 9,000 pages of bank account statements that arrived each month, each of which was copied four times so that reconcilers, reviewers and approvers had their own copies.


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