New Belgium Brewing Drives Digital Transformation with KnowledgeLake
"We’re seeing a lot of growth, not only in beer production but in the support side of the business. We have more invoices to process and more employees to hire. With that comes more paperwork. But we wanted to get rid of the paperwork and move into the digital side of things, which is a big part of the work that we’ve done with KnowledgeLake.”
-Tye Eyden, Collaboration Analyst
BUSINESS NEEDS
As New Belgium Brewing steadily expands its operations, the volume of employee paperwork, vendor invoices and other critical documents moving through their business continues to grow as well.
Since the brewery traditionally relied on paper documents as well as manual processes for organizing and storing the content, employees spent a great deal of time searching for needed information. In some cases, employees had to rifle through filing cabinets, storage boxes and stacks of paper for necessary documents each month. This unstructured process was difficult to maintain, time-consuming and tedious.
As a result, rekeying data into their line of business systems was a common occurrence – with roughly 90% of their invoices requiring manual input. In addition to relying on manual processes, the brewery struggled with a legacy document capture solution that was both costly and challenging to configure and maintain.
To optimize productivity, New Belgium Brewing and KnowledgeLake experts worked together to re-evaluate processes involving a variety of departments, including finance, accounting, environmental health and safety, human resources and legal departments.
SOLUTION
New Belgium Brewing’s adoption of the KnowledgeLake Platform has enabled them to automate the capture, processing and management of their most important transactional documents in a single cloud-based platform. The KnowledgeLake Platform is now being used by the brewery’s AP/AR Finance, Environmental Health and Safety and Human Resources departments, with plans for deployment in additional departments.
FEATURED CLIENT:
New Belgium Brewing
Manufacturing
Fort Collins, Colorado
NBB is famous for brews such as Fat Tire, Citradelic, Voodoo Ranger IPA and Trippel. When annual production approached a million barrels, the independent brewery built an additional facility. They chose KnowledgeLake to address business process challenges and help them scale operations to a national level
WEBSITE:
www.newbelgium.com
BENEFITS
Revitalized financial operations
The KnowledgeLake Platform’s machine
learning technology reduced the brewery’s invoice processing time from 38 seconds to 10 seconds in the first two weeks of deployment, and 85 percent of their invoices are now processed straight through. These Accounts Payable/Receivable workflows have resulted in faster approvals and payments to vendors and distributors, expediting a business-critical and formerly time-consuming process.
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