Thursday 14 May, 2020
Danone, one of the world’s leading food companies will now offer C2FO to its suppliers. The C2FO platform will allow Danone suppliers which would like to be paid in advance rather than at terms, to offer a discount rate of their choice for outstanding, approved invoices.
Danone a global leader with a unique health-focused portfolio in food and beverages, will be able to optimise its cash flow without risk by making it available to its suppliers in need of liquidity.
Yves Pellegrino, SVP Corporate Finance, Control and Services at Danone, explains, “It is imperative for Danone to support its suppliers in their financing needs. Fortunately, C2FO allows us to make the most of our customer-supplier relationships, by implementing a flexible solution for us and personalised financing for them. The use of a digital solution is an advantage that will strengthen our links with our partners in a secure and efficient environment.”
“This long-term solution is also complementing the liquidity facility in the tune of 250 million euros that Danone has committed to offer to the most weakened suppliers and customers during the current COVID-19 crisis”
C2FO’s technology is simple because it is designed to be synchronised with the existing management software (ERP) without changing processes or payment methods to the vendors. As soon as the discount proposed by the supplier is accepted, the invoice is paid automatically, directly by the buyer, without any change to the existing settlement process.
To date, C2FO has rolled out more than 200 programmes worldwide, including 25 with the top 100 companies in the world. In the space of a few years, this fintech has become the world’s largest provider of cash after the banks.