Company Overview
VF Corporation is one of the world’s largest outdoor and active lifestyle footwear, apparel, and accessories companies.
Headquarters
Denver, CO
Employees
10,000 - 25,000
Website
https://www.vfc.com/Value as a service
Challenge
With no central system for purchase ordering and requisitions, the VF team needed more visibility and control over indirect spending.
A lack of digital and automated processes meant the finance team had to spend time digging through ledgers and pulling data from different places, making it difficult to optimize cash flow.
A global and remote workforce required the new spend management system and its processes to be easy to use.
Results
Achieving $20 million in upfront savings and 80% of indirect spend capture after implementing Coupa’s platform — helping to standardize spending processes across the organization.
Unlocking $50 million in additional cash flow by improving visibility into third-party suppliers and digitizing the invoicing, purchase order, and payment process.
Getting 4,000 employees to quickly adopt the new purchase requisition policy thanks to a user-friendly platform.
“Just through the PO process alone, we know when we’re going to overspend and even underspend. Ultimately, we can course correct whenever we need to and make better decisions throughout the year.”
— Matt Puckett, Executive Vice President and Chief Financial Officer
