Integrated Receivables helps us operate more efficiently at lower costs across the invoice-to-cash cycle - which is essential to meet our growing business needs.
(PRWEB) September 06, 2017
Danone North America is one of the world’s largest food and beverage manufacturers. With a wide range of products that enjoy an undisputed leadership worldwide, Danone works with the mission of “bringing health through food to as many people as possible”.
The finance leadership at Danone North America was tasked with the dual objectives of improving cash flow to further invest in growth and innovation, while bringing automation across the invoice-to-cash operations to integrate their diverse business units.
With these objectives in mind, Danone North America automated the processes for collections, cash application and deductions management and broke down departmental silos using HighRadius™ Integrated Receivables platform.
The Integrated Receivables approach led to rich dividends, by reducing DDO by 55%, cutting cash posting costs by 75% and improving productivity by 50%-100% across various invoice-to-cash processes.
Mike Pettyjohn, Director of Customer Financial Services, Danone North America will share this journey on September 7, 2017 at 1:00 PM CT in a special webcast titled “How Danone Cut Cash Application Costs by 75% using Integrated Receivables and ACH.” The webinar will be co-presented by Robert Unger, AAP, Senior Director Corporate Relations and Product Management, NACHA and Elaine M. Novak, Director of Product Management, HighRadius.
“Integrated Receivables helps us operate more efficiently at lower costs across the invoice-to-cash cycle - which is essential to meet our growing business needs. With automation applied to processes across cash application, collections and disputes management, not only have we achieved an improvement in team productivity and efficiency, but we have also leveraged the speed and cost benefits of electronic payments by driving buyer ACH adoption,” states Mike Pettyjohn.
Most receivables teams relate a rise in electronic payment volumes, including ACH, to a decline in payment acceptance costs. But manually processing remittance from emails, EDI files and customer websites drives up the costs of processing electronic payments. A manually intensive cash posting process not only delays cash reconciliation but also impacts A/R resource availability for credit and collections, and slows down the deduction resolution processes.
In the webcast, Mike and Robert will discuss how to eliminate this type of manual, low-value work in credit-to-cash processing, facilitate better inter-department communication and improve electronic payment adoption, including ACH, wire and credit cards, using closely integrated processes for receivables management.
Credit and A/R professionals who would like more information or to register, click here.
About Danone North America
Dedicated to bringing health through food to as many people as possible, Danone is a leading global food company built on four business lines: Essential Dairy and Plant-Based Products, Early Life Nutrition, Waters and Medical Nutrition. Through its mission and dual commitment to business success and social progress, the company aims to build a healthier future, thanks to better health, better lives and a better world, for all its stakeholders—its more than 100,000 employees, consumers, customers, suppliers, shareholders and all the communities with which it engages. Danone’s brand portfolio includes both international brands (Activia, Actimel, Alpro, Danette, Danonino, Danio, evian, Volvic, Nutrilon/Aptamil, Nutricia) and local brands (Aqua, Blédina, Cow & Gate, Bonafont, Horizon Organic, Mizone, Oikos, Prostokvashino, Silk, Vega).
About HighRadius Corporation
HighRadius Corporation is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadius™ Integrated Receivables platform optimizes cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing. Powered by the Rivana™ Artificial Intelligence Engine, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate decision making and future outcomes. The RadiusOne™ B2B payment network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months.
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