General Mills Achieves Financial Excellence With SAP

SAP NEWSBYTE - - SAP customer General Mills was recognized for having the “Supply Chain Finance Project of the Year” and also received the “Gold Award” at the inaugural gtnews Global Corporate Treasury Awards. Sponsored by Bank of America Merrill Lynch, the awards were held at Sibos 2010 in association with SWIFT. Judges acknowledged the General Mills project team, comprising members from across the organization, who collaborated to successfully realize the company’s objectives to implement a supply chain finance project.

One of the world’s leading food companies, General Mills operates in more than 100 countries and markets more than 100 consumer brands, including Cheerios, Häagen-Dazs, Nature Valley, Betty Crocker, Pillsbury, Green Giant, Old El Paso, Progresso, Yoplait, Cascadian Farm and Muir Glen. The company uses the enterprise resource planning (ERP) solution SAP® ERP Financials to support critical financial processes including its financial close cycle, accounts receivable, accounts payable, and cash and financial risk management. ERP software from SAP AG (NYSE: SAP), is used by General Mills to empower it with the insight and visibility required to accurately manage liquidity and cash, streamline financial processes, manage risk and reduce the cost of compliance in the face of a changing business and regulatory landscape.

SAP ERP Financials, together with solutions for enterprise performance management (EPM) and governance, risk and compliance (GRC) from the SAP® BusinessObjects™ portfolio, form a complete solution to help chief financial officers outperform stakeholder’s financial expectations, help ensure regulatory compliance and effective risk management, and deliver superior service at a reduced cost.