In large organizations, allocations can quickly get out of hand – demanding substantial time and manual labor from the Office of Finance and preventing finance experts from focusing on strategic analysis. This was one of the major difficulties facing snacking giant, Snyder’s-Lance.
Snyder’s-Lance manufactures and distributes some of the most popular snack brands in the United States and abroad including, Snyder’s of Hanover®, Lance®, Cape Cod®, Kettle Brand®, Emerald®, Pop Secret® and more. Headquartered in North Carolina, Snyder’s-Lance has over 6,100 employees and amasses over 2.1 billion USD in annual revenue.
Yet, Snyder’s-Lance’s Office of Finance struggled to manage several disparate Corporate Performance Management (CPM) systems, making their extensive allocation process even more difficult. At one time, Snyder’s-Lance had over 1,000 allocations to manage in their annual budgeting process. This led them to seek out a single CPM software that had a powerful allocation engine.
After considering several CPM software solutions, Snyder’s-Lance chose Prophix because of its finance-owned approach to automating financial processes.
After implementing Prophix, Snyder’s-Lance was able to dramatically reduce the number of allocations and automate these processes.
To learn more about what Snyder’s-Lance is able to accomplish with Prophix, read our case study.