The Kraft Heinz Company is the fifth largest food and
beverage company in the world, with 2022 revenues
of $26 billion. Created by a merger in 2015, the
38,000-person company sells iconic brands such as
Kraft, Heinz, Oscar Mayer, Cracker Barrel, Planters, and
Miracle Whip and has facilities in more than 40 countries.
Why Change
The 2015 merger between H.J. Heinz Company and
Kraft Foods Group brought additional complexity for
the newly combined accounting and finance function.
Dozens of new entities made reconciling millions of
non-product invoices—transactions not directly related
to operations or production—especially challenging:
Post merger, the company had to navigate $20 million
to $30 million in intercompany discrepancies between
payables and receivables across multiple entities.
Reconciling these intercompany transactions required
staff to aggregate data from multiple ERPs—SAP,
Oracle, JD Edwards, and Epicor—into Oracle Hyperion
Financial Management.
