Global Animal Nutrition Leader Alltech Expands Medius Accounts Payable Automation Rollout
Cloud-based Medius AP Automation improves visibility and efficiencies across different regions, user interfaces, languages, and currencies to help Alltech modernize its AP operations
NEW YORK CITY, Oct. 28, 2020 – Medius, a leading global provider of cloud-based accounts payable (AP) automation and source-to-pay solutions, today announced global animal nutrition leader Alltech has expanded its rollout of the Medius AP Automation solution beyond North America to support AP operations in the United Kingdom and Ireland.
Alltech’s products and solutions are dedicated to improving the health and performance of people, animal and plants through nutrition and scientific innovation. The company does business more than 120 countries worldwide.
Alltech began its AP automation journey by deploying Medius in early 2019 to support its North American operations; now the company is expanding its Medius deployment to comprise its UK and Ireland operations in order to gain greater operational efficiencies, visibility and control.
“One of the reasons we selected Medius was its ability to scale globally to support different user interfaces, languages and currencies, as well its flexibility to accommodate specific guidelines in different geographic regions,” said Liz Neely, business engagement manager for Alltech.
“The fact that Medius AP Automation is a cloud-based solution was a significant factor in our selection of the solution,” said Connie Thompson, director of MIS solutions development and delivery for Alltech. ”All images are securely stored in the cloud as part of the subscription, eliminating the onus of having the worry about data backup and management. As we continue to grow our business, upgrading our systems to improve efficiencies reflects our ongoing commitment to operational excellence and customer service.”
Since deploying Medius 18 months ago, Alltech has seen numerous benefits in accounts payable. Workflow speeds invoice processing and payment, while ensuring internal controls and audit trails are in place. Automated three-way matching of purchase orders has eliminated 95 percent of human intervention.
All invoices are now accrued, contributing to greater accuracy in financial processes. Moreover, the technology has eliminated paper-based processes, which aligns with Alltech’s sustainability initiatives, and improves visibility while reducing the incidence of lost/late invoices. Alltech has also been able to reduce inbound phone inquiries to its AP team, since payment status from Alltech’s ERP solution is automatically imported into the Medius platform, providing real-time information to department budget holders.
What’s more, Medius digital and cloud support has enabled the company to work effectively and remotely during the COVID-19 shelter-in-place protocols, while mobile capabilities enable authorized approvers to approve invoices via their mobile phones.
Learn more about the Medius AP Automation solution at mediusflow.com.
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Medius is a leading global provider of cloud-based spend management solutions, helping organizations drive their business forward by enabling best-in-class process efficiency, cost saving opportunities and greater financial control.
Over 3,500 customers and 450,000 unique users worldwide use Medius spend management solutions, managing transactions worth more than $150 billion annually.
Medius was founded in 2001 and acquired procurement solution provider Wax Digital in 2019. Today, the company has over 350 employees and offices in Sweden (HQ), the United States, United Kingdom, Australia, Denmark, Norway, the Netherlands and Poland. For more information, please visit mediusflow.com.
Founded in 1980 by Irish entrepreneur and scientist Dr. Pearse Lyons, Alltech delivers smarter, more sustainable solutions for agriculture. Our products improve the health and performance of plants and animals, resulting in better nutrition for consumers and a decreased environmental impact.
We are a global leader in the animal health industry, producing additives, premix, self-fed supplements and feed. Celebrating 40 years in 2020, we carry forward a legacy of innovation and a unique culture that views challenges through an entrepreneurial lens.
Our more than 5,000 talented team members worldwide share our vision for a Planet of Plenty™. We believe agriculture has the greatest potential to shape the future of our planet, but it will take all of us working together, led by science, technology and a shared will to make a difference.
Alltech is a private, family-owned company, which allows us to adapt quickly to our customers’ needs and maintain focus on advanced innovation. Headquartered just outside of Lexington, Kentucky, USA, Alltech has a strong presence in all regions of the world. For more information, visit alltech.com, or join the conversation on Facebook, Twitter and LinkedIn.