Danone is a leading global food & beverage corporation with its headquarters based in Paris. Dedicated to bringing health through food to as many people as possible, the company is built on four businesses: Essential Dairy and Plant-Based Products, Waters, Early Life Nutrition, and Medical Nutrition.
Danone with 1000+ customers has a diverse customer segment consisting of mom & pop stores as well as big-box retailers such as Wal-Mart. With a global presence and geographically distributed operations, Danone had shared services for its A/R present across multiple business units globally. Due to a decentralized system, the receivables landscape, at Danone, faced 3 core challenges- Increased process complexity with high volumes of short pays, high Manual processing of deductions, and poor visibility in the collections process.