With HighRadius, everything is connected, and we have a single source of truth. They have always wanted to see us succeed as well, and so we’ve had great success just partnering with them.
The cash application team had to manually aggregate remittance data from multiple sources like emails, EDIs, etc. Also, Danone’s consumer portfolio comprises several big-box retailers. As this customer segment often insists on making payments through their respective customer portals, the cash application analysts had to log into 25+ portals to retrieve remittances. The check payments, which made up to 35% of all the transactions, also claimed critical examination by the analysts.
At Danone, a significant part of the deduction analysts’ work hours was invested in seeking the backup data and documents relevant to the disputes claimed. Meanwhile, manual mapping of ERP-specific reason codes was also a major challenge. The repetitive manual tasks ceased them to rather drive focus toward unlocking the capital trapped in invalid deductions. Also, the absence of a one-stop, centralized view emerged as a major challenge in reportings and financial audits.
Danone had successfully implemented the SSC model of operations across its Business units in the US. To move its SSC objective forward, Danone strived hard to scale this business transformation across all its subsidiaries in Canada. However, centralizing the O2C operations under an SSC seemed a tough task due to siloed and non-standardized processes.
Danone serves a diverse customer base through 1000+ food wholesalers, including Walmart and Amazon. Danone works with the mission of ‘bringing health through food to as many people as possible’.
Consumer Packaged Goods
We were able to redeploy some of those employees to focus on collecting back invalid deductions. So actually, we were able to click close to $20 million back in value.
Director, Credit & Accounts Receivable
An automated cash application process allowed the Cash Application team to redeploy 8 FTEs to other critical and high-priority tasks. Auto-aggregation of remittance data helped extract remittances from multiple sources like emails, EDIs, etc. The solution also deployed web bots to auto-extract data securely from customer portals and the Multi-OCR Engine to accurately capture remittance data across check payments. Meanwhile, Automated Deductions reason coding helped map the customer-provided reason codes with internal ERP-specific ones without analysts’ assistance.
Writing off the low-dollar valued valid deductions was automated by the solution based on customized business rules which helped the deductions team focus their research extensively on high-dollar value deductions & critical customer portfolios. Auto-aggregation and linking of backup documents and PODs helped the analysts instead channel their efforts toward recovering the invalid deduction amounts.
The solution was able to port all data to the SAP automatically and served as a single source of truth across all teams. A single interface for multiple tasks and functionality ensured seamless visibility and helped stimulate cross-team collaborations. It also helped Danone foster Data Integrity and set up standardized O2C operations across all the BUs.