“Choosing Fidry’s was much easier than any other platforms.
It is a flexible and consistent tool that meet our needs, offering a range of higher functions, the ease of implementation and a reactive personnel who are well-disciplined in their line of work. All these parameters allowed us to start the project with confidence. Today we are excited to work with Fidrys. ”
Legendre Group Treasurer
In recent years the Legendre Group has undergone strong growth also raising the level of cash-management required. Investment, financing, optimization of debt and banking relationships have become the business' norm.
The cash management tools in Excel become increasingly outdated and risky.
More than 60 companies and 100 SCI
More than 10 banks
More than 240 bank accounts
CA 2012: € 294m
Estimated 2015 sales: € 450M
Given the growth of the group, the priority is to optimize the time spent on daily cash flow, increasing real-time visibility of accounts (banking and currents), to follow simplified previsional cash and carry arbitrage proposals . The large number of financial institutions and bank accounts requires management adapted cash, monitoring of bank charges easier when visibility on the short-term lvisibility of liquidity becomes a main priority.
Monitoring the daily cash via bank portals (ten) has become far too complex. The implementation of EBICS T and TS and the SEPA compatibility is a must in the secure implementation of daily cash.
A controlled flow of traded and total versatility of formats ensures daily exchanges with all bank counterparties without the need to connect via bank portals.
Optimization of costs and financial products guarantee the complete traceability of financial transactions and provide visibility of financial situations and significantly lessen the number of managed Excel files. In addition, an interface with the Winobi compatibility dramatically reduces the number of manual tasks and ensures quality and consistency of short-term prevision.
The major features expected by the Legendre Group:
- Centralized management of cash across nearly eighty companies
- Recovery account statements from a dozen banks
- Import the cash flow projections from accounting (WinObi)
- Automatic or manual creation reconciliation cash flow
- Proposal for balancing account writings - Intra-Group Bill Payments
- Sending EBICS TS transfer orders among ten banks
- Impact of current accounts for the writings of leveling
- Generation of related accounting entries
- Monitoring scales of interest on bank accounts and current accounts
- Monitoring of fifty loan contracts with fixed or adjustable rate
- Immediate impact on short and medium-term cash positions
On finishing the project
- Smoothing of internal accounting procedures accounting for cash flow forecasts
- increase the visibility of liquidity, net cash in thethe middle term
Fidrys is selected after a call for bids was launched with four cash management vendors. The decision and the launch of the project are expected in mid-September 2012.
All references to the Legendre Group shareholders are finalized in Excel, no entry
Using monthly paid repositories associated with cash management and debt
Configuration and testing protocols EBICS T & TS by Fidrys
Passage dual signatures & Real EBICS TS before mid-October
Passage into production after 5 weeks - Launch of the debt before
Setting up an FTP server for exchanges with Legendre Information System
Making available extracts of daily accounts recovered by Fidrys
Recovery of accounting estimates - Update forecasts cash
Retrieving third transfers - internal validation - sending banks - import forecast
Recovery effect notice to pay the banks - Lettering cash forecasts
Scenarios balancing accounts proposal - Between 20-50 leveling daily
Daily time savings estimated at between one and two hours after crossing into production
After the decision, the project is launched in stride, without loss of information between sales team and the production team.
All configurations of the system specific to the organization of the Legendre Group (Entities, Accounts, Banks, Agencies) are prepared in Excel and integrated by Fidrys without any parameter entered by the customer.
The use of shared repositories related to cash management allows starting a test phase in the weeks following the launch of the project.
All interfaces between the Legendre Group's information system and SaaS platform Fidrys Cash are configurable. No constraining formats imposed by the publisher.Traceability and audit interfaces are understandable and send by email at the end of each process.
The recovery of banks CRL notice possible to "fix" the dates of transaction and value forecasts of notes payable in cash. On a base of more than 500 notes payable in stock, this represents time saving and considerable qualification forecasts. The reconciliation between the forecast and the bank writes "bundled" is largely optimized.
Monitoring the debt management allows immediate impact on financial situations.