Domori wins the SMAU Innovation Award 2024
Domori S.p.A., a leader in the production of super-premium chocolate, has been awarded the SMAU Innovation Award 2024.
This prestigious recognition is given to companies, administrations, and organizations that stand out for adopting innovative solutions, collaborating with businesses and startups, and serving as virtuous examples of innovation in organizational models, products or processes, digital transformation, or open innovation.
Domori received the award for a payment optimization project for its supply chain, developed in collaboration with the fintech company PlusAdvance. The solution addresses the need to efficiently manage payments to raw material suppliers, a sector heavily impacted by recent market fluctuations in cocoa. Thanks to PlusAdvance’s Card2Account technology, Domori is now able to pay both domestic and international suppliers using credit cards, with payments automatically converted into bank transfers.
PlusAdvance’s platform enables the company to overcome operational and logistical challenges stemming from new market dynamics: particularly in a period where 80-90% of the supplier payment is required at the time of order. The Card2Account solution offers Domori the ability to defer payments while ensuring a steady supply of cocoa. The system allows for the conversion of credit card payments into bank transfers without requiring supplier approval, maintaining maximum transparency and simplicity throughout the process. The company can thus pay any supplier via credit card, achieving 100% acceptance without requiring additional actions from the suppliers.
"Even a traditional business like chocolate needs innovation," says Gian Luca Scatena, Director of Special Projects & Board Member Affiliates at Domori. "That’s why we chose to adopt the fintech solution from PlusAdvance to optimize our procure-to-pay process. This innovation ensures the continuity of our raw material supply and allows us to support the development of the supply chain in Africa and South America, respecting payment terms and reducing financial exposure risk. Additionally, it allows us to manage all supply chain finance operations efficiently and transparently."
The award ceremony will take place in October in Milan, at FieraMilanoCity, during SMAU, Italy’s leading event in innovation and startups.