Cenveo's Liquidity Management Journey

Cenveo’s Liquidity
Management Journey

Kyriba.com Copyright © 2021 Kyriba Corp. All rights reserved. | Proprietary & Confidential
ALEX MAZE
Manager
Clearsulting
Today’s Presenters
2
DORY MALOUF
Senior Principal Value Engineer
Kyriba
BENJAMIN SEAL
VP, Treasury Services
Cenveo

3
Executive Kyriba Value Realization
Cenveo’s Digital Transformation Story

4
Cenveo is a leading North American Provider of custom labels, envelope solutions supported
by a broad product portfolio, diversified business model and expansive geographic footprint.
Overview
Cenveo is a diversified manufacturer of custom labels and envelope
products that covers a broad range of end-markets from pharmaceutical,
logistics and healthcare to CPG to government
Produces one out of every four envelopes in the US
Cenveo is headquartered in Stamford, CT and operates 19 facilities across
North America
Key Highlights
Cenveo Worldwide Limited
Company Overview
$725mm
Revenue
~25,000
Customers
Treasury Department
Three Employees
SVP, Finance
VP, Treasury Services
Assistant Cash Management
Geographic Footprint
~3,000
Employees

5
Practices Before Implementation of Kyriba
Cash Forecasting
Utilization of Excel using historical trends
Labor Intensive
Prone to Errors
65 – 70% Accuracy
Cash Accounting
Populated in excel using bank statements then
key in ERP
Labor Intensive
Only one approver
AP Vendor Payments
Multiple touch points including data conversion
Labor Intensive – 7 hours a day
one approver
E-mail communications of approvals
Required IT to manually upload file to bank
Portal
Corp ACH & Fedwire Payments
Utilization of banking portal to process
One approver required via token
>500k required Executive to sign wire
request
Typically completed after the payment
Labor Intensive

6
6
The Cenveo - Kyriba Treasury and Payments
Transformation Journey – Key Milestones
Evaluation
Biz Case
Presentation
Selection Solution Design
Implementatio
n
Go Live
Value
Realization
• Top 3
providers
considered
• Outsourced
consultants
provided
vendor
insights
• Potential
build vs. buy
• Ease of use /
ROI /
Timelines
• 2 months
• Leveraged
Kyriba Value
Engineering
content as
well is
internal
metrics
• Business Case
was
presented to
CFO as well
as SVP
Finance
• 2 – 3 weeks
• References
• Attended
Kyriba live
user
conference
• Consultative
approach
• Vendor
viability
• Future vision
for internal
team
• 2-3 weeks
• Leveraged
Kyriba’s
consultant
relationship
• Re-designed
current
process
within the
platform
framework
• Phased
approach
base on
critical pain
points up-
front
• 3-4 weeks
• 3 parties:
Treasury
team / Kyriba
Consultant /
Bank(s)
• Phased
approach
base on
critical pain
points up-
front
• 6 - 8 weeks
(slowed down
by bank)
• Live dates are
different for
each module
• Significant
advantage of
the platform
– able to go
live in areas
while still
building
others
• Full end to
end go live
established
within 3
months
• Leveraged
Kyriba Value
Engineering
realized value
assessment
• Realized
value was
presented to
CFO as well
as SVP
Finance
• Additional
functionality
/ continued
platform
adoption
Done Concurrently
9/2020 11/2020 2/2021 5/2021 7/2021

7
How many hours per week is your team/company
spending managing cash flow/liquidity?
• 100-150 hours
• 50-99 hours
• 30-49 hours
• 30 or less
Poll #1

8
8
Kyriba Value Engineering: Invested in our clients’ success
• Cenveo is evaluating its transformation achievements since
the adoption of Kyriba for its treasury and liquidity
management practices
• Cenveo and Kyriba partnered to identify the value realized
and performance maturity achieved
• Cenveo and Kyriba went through several collaborative
sessions to validate findings as well business benefits
• Based on the magnitude of the business benefits realized,
it is recommended Cenveo partner with Kyriba to publicly
document these finding through Kyriba and partner
marketing channels as well as award recognition
opportunities
1-Value
Discovery
2-Value
Monitoring
3-Value
Realization

9
9
AD-HOC
EMERGING
STANDARDIZING
• Disparate & unstructured
processes
• Highly manual & partial
information
• Very limited visibility
• Some process structure
@ corporate
• Manual procedures &
offline tools
• Incomplete historical
operational visibility with
limited forecasting
• Treasury viewed as
cost center
• Formal legacy but domain
focused TMS platform
(e.g., only cash or payment,
not both)
• Some process automation,
but informationrequires
manual effort
• Visibility is improved, but
does not cover, real-time,
the entire LPM scope
STRATEGIC
• Full process automation,
standardization and
integration through a
SaaS platform
• Complete Liquidity
PerformanceManagement
coverage (e.g., cash,
payments, SCF…)
• Real-time, forward-looking
and comprehensive decision
making (e.g., M&A, capital
structuring…)
• Treasury is viewed as
strategic, high-value function
Then vs. Now: Cenveo improved two levels of maturity
(from Emerging to Strategic in <3 months!)
Performance Maturity Assessment
Business Process Performance
Per-Kyriba
With-Kyriba

10
Key Findings
Cenveo leaped frogged business process maturity stages (+2 levels) to achieve significant benefits!
Liquidity Management Process Original
Maturity
Score(1-4)
Current Maturity
Score (1-4): with
Kyriba
Resulting Impact (Success Indicators)
Cash Management 2 4 (+2 levels) • 100% Real-Time Liquidity Visibility
• 95 Hours/Month in Productivity Gain
Cash Forecasting 2 4 (+2 levels) • +43% Liquidity Forecast Accuracy
• 113 Hours/Month in Productivity Gain
Liquidity Availability
Management (Payment Builder)
1 4 (+3 levels) • ↑ Data Integrity, Workflow Controls, & Discounts
• 137 Hours/Month in Productivity Gain.
Business Partnering 1.5 3.9 (+2.4 levels) • More Reliable and Timely Liquidity Insights
• Trusted Advisor Status
• +$1M COVID-19 Government Claim Processing
• +1%+ Return on Credit Card Spend
Payments 2 3.9 (+1.9 levels) • Standardized & Controlled Workflows With
• Encrypted Connectivity as a Service
Compliance & Controls 1.5 3.7 (+2.3 levels) • Standardized & Controlled Workflows
• Fully Reportable & Traceable Audit Trails
Bank Relationship Management 1.5 3.4 (+1.9 levels) • Visibility and Reconciliation of Bank Fees
• Bank Fee Savings

11
11
Treasury Organization
Process Maturity Transformation Delivered:
Cenveo’s Treasury Organization Now a Strategic Business Partner !
11
Cenveo’s Treasury Organization Pre-Kyriba Deployment Cenveo’s Treasury Organization With Kyriba Deployment
= Phase 2, not included in original scope

Real Time Business Intelligence
Improved forecast accuracy and daily visibility enable to mobilizeidle cash.
The optimization will focus on paying off debt, strategic cash investment, and support of business capital initiatives.
Visibility and Forecast Accuracy Enabling Bottom Line Impact
• As platform adoption grows, expect forecast accuracy to continue to improve
12

13
Based on today’s discussion, how does your
enterprise liquidity management practice stack-
up in maturity?
• Ad-hoc (disparate, labor intensive, unstructured,
unreliable & not timely)
• Emerging (structured in excel-like tools, still labor
intensive, unreliable & not timely)
• Standardizing (leveraging legacy technology w/
minimal functionality, not labor intensive, still
unreliable)
• Strategic (on-demand, real-time and reliable with
full automation/ best practices)
Poll #2

Productivity Breakdown
• Transformed Treasury
Management into a competitive
advantage
• Standardized, automated and
digitally transformed treasury
management processes enabled
better support of strategic
objectives as a trusted business
partner
657+ Cross Functional Hours (82 days) Per Month Saved!
45% More Than Original Estimate!

Business Partnering
Cenveo Treasury a Strategic Business Partner
Pre- Kyriba With Kyriba

Kyriba Enhanced Cenveo’s Business Partnering Footprint
• The deployment of Kyriba project saved a total of 657 hours per month 90% improvement!
• This is a critical benefit of the project
✔ Allowed Cenveo to undertake several strategic projects that would not have been address due to resource constraints
✔ Elevated the entire team professionally and contributed to promotions including to VP level
Project Name Benefits
1. Covid Business Interruption Claims
1. Begin work on supply chain financing to
optimize working capital and improve free
cashflow
1. Evaluation of Credit Card processing to
improve overall Net effective rate
1. Insurance and Letters of Credit agreement
re-negotiation
1. $1M of benefit
1. Up-to estimated $17.7M of one-time cash
flow benefit projected
1. Annual savings of $100k + in credit card
processing fees.
1. Increase available protection and capacity
at a lower cost to Cenveo

17
Detailed Benchmarking Scorecards

18
18
Cash & Liquidity
Visibility & Reliable Management Insights Achieved

19
19
Payments
Standardized & Controlled Workflows With Encrypted Connectivity as a Service

20
The Difference is
Clearsulting
Our sweet spot is delivering transformational
projects in the office of finance, helping finance
become a better partner to the business.
We do that by not just installing technology, but
implementing solutions that address
business challenges.
Our industry-proven methodologies, speed, and
innovative thinking are designed to drive results
and get teams working better, faster, and with
more control.
Trustworthy. Nimble. Collaborative.

Questions?
21

Cenveo's Liquidity Management Journey

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