We have gained 0.8 FTE (Full Time Equivalent), which has enabled us to organize customer accounting differently and work on quality.
Bureau Veritas, world leader in QHSE services
Founded in 1828, the Bureau Veritas Group has set itself the goal of “seeking the truth and telling it without fear or favour”. The Group’s business consists of inspecting, analyzing, auditing and certifying products, assets (buildings, equipment, ships, etc.) and management systems against regulatory or voluntary standards.
The Group is the world leader in QHSE (Quality, Health, Safety, Environment) services, excluding raw materials inspection, and employs over 40,000 people in 900 offices worldwide.
More than 10,000 monthly transfers captured by hand
Evelyne Rieu, Accounts Receivable and Treasury Manager, explains that “every month, the French accounting department receives more than 20,000 transfers, representing over 55% of customer cash receipts”. An internally developed solution enables the group to automatically match 50% of these transfers. But for Evelyne Rieu, “it’s not enough. 10,000 transfers are still entered manually into the JD Edwards ERP system, and processing and query times are too long.
Choosing CashOnTime Allocation
At a quarterly meeting attended by the heads of Lyon’s accounting and financial shared centers, Nathalie Barbier from Bureau Veritas met Sylvie Barcelo-Natale from Adecco. The latter extols the merits of CashOnTime Allocation, which has resolutely changed her daily routine.
Evelyne Rieu attended a presentation of the solution at the DIMO 2008 Forum. She went to see the tool in action at Adecco and was quickly convinced of the productivity gains offered by CashOnTime Allocation.
A quick introduction to the tool
After a scoping meeting, interfacing with JD Edwards, enrichment of third-party databases and testing phases, the solution is working perfectly.
Evelyne Rieu explains that the ergonomics of the tool enabled her team to get to grips with it quickly. She also praises the collaboration with DIMO Software: “Throughout the project, we were very close to the DIMO Software teams, who were extremely flexible. They listened to our needs and adapted the tool to our organization and constraints”.
Convincing results
Now, 80% of the 20,000 monthly transfers are automatically matched to JD Edwards. The remaining 20% are matched by a team of 7 people. They are supported by CashOnTime Allocation, which enables them to carry out instant searches. “Compared with the solution we used previously, we’ve gained in terms of the speed of response to queries, and we can query on more criteria,” explains Evelyne Rieu.
For Bureau Veritas’ Accounts Receivable and Treasury Manager, the benefits are obvious: “CashOnTime Allocation has really breathed new life into my team.
The time saved and the reliability of the matching performed have improved the team’s productivity. “We have gained 0.8 FTE (Full Time Equivalent), which has enabled us to organize customer accounting differently and work on quality”.
Evelyne Rieu confirms that CashOnTime Allocation has contributed to the reorganization of her department. “Previously, transfer processing was distributed within my team by geographical zone, using department codes. Recently, this distribution has been done alphabetically by portfolio. This allows us to easily analyze the allocation of payments to be processed”.
This reorganization, combined with the CashOnTime Allocation solution, enabled the team to work more consistently and gain in productivity. Evelyne Rieu points out that “by putting together all the costing elements, she was able to estimate that the overall ROI for the project was 18 months (excluding Citrix license costs)”. This proves that CashOnTime Allocation is a highly profitable investment.
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