ADM
ADM is a global leader in human and animal nutrition, agricultural origination and processing, and renewable chemicals production. Since partnering with Taxually, ADM has achieved substantial time and cost savings, consolidating and automating data feeds from nine source systems and managing numerous adjustments and exclusions. These automation efforts have resulted in over 35% cost and time savings.
At a glance
- Company: ADM, a global leader in human and animal nutrition, agricultural origination and processing, and renewable chemicals production.
- Data: feeds from nine source systems, now consolidated and automated.
- Complexity: numerous adjustments and exclusions to manage.
- Result: over 35% cost and time savings.
About ADM
ADM purchases, transports and transforms crops, connecting farmers to consumers. Its products span food, feed, fuel and industrial goods. According to ADM's website, the company is headquartered in Chicago, Illinois, and has 44,000 colleagues serving customers across six continents.
What was the challenge?
ADM's indirect tax reporting drew on data feeds from nine separate source systems. The data also required numerous adjustments and exclusions before it could be used. ADM wanted to save time and cost on this work. Download the full case study below for the detailed background.
How did Taxually help?
Since partnering with Taxually, ADM has consolidated and automated the data feeds from its nine source systems. It also manages its numerous adjustments and exclusions as part of this work. These automation efforts have delivered over 35% cost and time savings. Download the full case study below for the detailed results.
Results
- Data consolidation: feeds from nine source systems consolidated and automated.
- Data quality: numerous adjustments and exclusions managed as part of the process.
- Savings: over 35% cost and time savings from the automation work.
Why multiple source systems complicate indirect tax reporting
Large enterprises often run several ERP, billing and operational systems side by side. Each one holds part of the transaction data that indirect tax reporting depends on, usually in its own format. Before a return can be prepared, that data has to be extracted, combined and cleaned, and specific transactions have to be adjusted or excluded.
When this is done manually, the same consolidation work is repeated every reporting period. Automating the data feeds turns it into a repeatable process, which is where ADM's cost and time savings came from.
Adjustments and exclusions are a common source of effort. Intercompany transactions, non-reportable items and corrections often need different treatment from standard sales and purchases, and handling them consistently matters for the accuracy of every return. Building these rules into an automated process means they are applied the same way each period.
Frequently asked questions
How much did ADM save with Taxually?
ADM's automation efforts with Taxually have resulted in over 35% cost and time savings.
How many source systems feed ADM's indirect tax reporting?
Nine. Since partnering with Taxually, ADM has consolidated and automated the data feeds from all nine source systems.
What does ADM do?
ADM is a global leader in human and animal nutrition, agricultural origination and processing, and renewable chemicals production.
