How Dawn Foods Achieved Millions in Annual Working Capital Savings With TIS
Company Size
1,000+
Product
- CashOptix
- TIS
Tech Stack
- Cloud-based Platform
- Cash Forecasting Solutions
- Liquidity Management Solutions
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Visualization
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Food & Beverage
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Dawn Foods is a global B2B bakery ingredient supplier with a significant presence in the food industry. The company operates more than 50 locations worldwide, serves over 40,000 global customers, and offers products in more than 100 countries. With multiple entities and finance departments, Dawn Foods is a major player in the food industry, providing a wide range of bakery ingredients to businesses around the world. The company's extensive reach and diverse customer base make it a critical supplier in the global food market.
The Challenge
Dawn Foods faced several challenges, including a lack of focus on cash and working capital, shortfalls in reporting, and a complex data landscape. The company struggled with a shortfall in management communication between departments, which hindered their ability to make informed financial decisions. Additionally, the complex data landscape made it difficult to gain a clear understanding of their cash positions and working capital needs. These issues collectively created a significant barrier to achieving their financial goals and optimizing their working capital.
The Solution
In 2015, Dawn Foods implemented a change management process to become a more cash-oriented company. The key objective was to achieve a 10% year-over-year reduction in Net Working Capital Days. To support this goal, they implemented TIS's CashOptix, a comprehensive working capital analytics tool. This tool provided 24/7 visibility into key performance indicators (KPIs) relevant to different business units and functions. By reporting KPIs in various dimensions, the tool ensured that improvement processes were supported and targets were accepted across the organization. CashOptix connected to all of Dawn Foods' global banks, systems, and entities, providing real-time visibility and advanced reporting on cash and liquidity. The tool also facilitated the development of both short and long-term cash forecasts, supplemented by AP, sales, and procurement data to provide a complete picture of working capital and liquidity.
Operational Impact
Quantitative Benefit
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