We were able to redeploy some of those employees to focus on collecting back invalid deductions. So actually, after about five months of going live, we were able to click close to $6 million back in value.
Being a global provider of food and dairy products, Danone has multiple business units across US and Canada regions. Across these business units, the O2C operations were siloed and non-standardized. Danone first brought in their Water business line within shared services. However, when they introduced Danone Canada, it exposed some major loopholes in the receivables process.
Danone, a prominent global food-product provider, serves a wide range of customers through more than 1000 food wholesalers, including Walmart and Amazon. Danone works with the mission of “bringing health through food to as many people as possible.” Danone has Shared Services for its Accounts Receivable (A/R) across its numerous businesses spread across the globe.
Consumer Packaged Goods (CPG)
$26 Billion (2020)
Claims and POD Automation
Initially, when we would apply cash, we would have two screens: the first one would have the remittance data, and the other would showcase the SAP environment. But for a lot of these payments, we had to undergo multiple different steps – not just look at the remittance, but also go to the portal and download documents, and it was all too time-consuming.
Director, Credit & Accounts Receivable
By automating manual processes like cash application and dispute resolution, Danone was able to free up 6 full-time resources out of a 8 member team and reallocated them to critical tasks.
Highradius cash Application Software automatically matched incoming payments to the open invoices, resulting in 98% hit rates for cash application.
Cash Application Software helped the analysts automatically extract remittance information from emails, EDIs and 25+ customer web portals.
With Cash Application Software, the cash application analysts could automatically map the customer reason codes to their ERP-specific reason codes without any manual intervention.