{"id":65522,"date":"2010-03-11T17:01:34","date_gmt":"2010-03-11T16:01:34","guid":{"rendered":"https:\/\/www.cashontime.com\/en\/?p=65522"},"modified":"2024-10-22T11:20:09","modified_gmt":"2024-10-22T10:20:09","slug":"visiativ-saves-dso","status":"publish","type":"post","link":"https:\/\/www.cashontime.com\/en\/customers\/visiativ-saves-dso\/","title":{"rendered":"Visiativ saves 15 days of DSO by implementing CashOnTime"},"content":{"rendered":"

During containment, we gained 15 days\u2019 DSO. Since March 2020, we have been able to recover 4 million euros over 60 days thanks to the use of the tool and the involvement of sales staff via the tool. Today, our rate of receivables overdue by more than 60 days is close to 16% on a total outstanding of around 10 million, which is more than reasonable.<\/p><\/blockquote>\n

Who is the Visiativ Group?<\/h2>\n

Structured around 4 divisions (ABGI Consulting, Moovapps, Visiativ Solutions and Visiativ Accelerator), which meet its customers\u2019 expectations in terms of innovation and financing, digital transformation and continuity, cloud hosting, facilities management and 3D printing, Visiativ has been targeting mid-market companies since its creation in 1987.<\/p>\n

The Visiativ Group has 18,000 customers and sales of \u20ac190 million in 2020, with no fewer than 1,000 employees.<\/p>\n

Their specific needs<\/h2>\n

Adapting to the Group\u2019s strong growth<\/h3>\n

\"adapterUp until then, his team had been working with Excel spreadsheets, aged balances and periodic printouts of paper invoices,\u201d explains Philippe Besson, Accounts Receivable Manager in charge of collections. With the group\u2019s rapid growth, certain processes had become obsolete. After a market study, which helped them to define their needs, they turned to DIMO Software: \u201cThe budget was within our expectations. What\u2019s more, we knew DIMO Software well through various partnerships. This proximity, this trust and the seriousness of the support provided were reassuring\u201d.<\/p>\n

Structuring collections and teams<\/h3>\n

With the acquisition of several entities, Visiativ needed to structure collections and standardize practices. The objective was to structure teams and tools in order to set up a group-wide organization. Until then, collection tasks had been carried out by 2 people. The team now numbers 5 and is set to continue growing.<\/p>\n

Promoting a culture of recovery<\/h2>\n

Visiativ works with a factoring company which handles part of its receivables. Receivables not eligible for factoring are handled internally. \u201cInitially, the situation wasn\u2019t too problematic, and the subject wasn\u2019t crucial, as the 3 major structures had already used factoring. With the arrival of two new companies in the group, we had to find innovative solutions. Over and above the tool, management\u2019s impetus in terms of collections is essential,\u201d admits Philippe Besson.<\/p>\n

The context of confinement has encouraged collaborative work. Although the group is sales-oriented, it still needed to evangelize internally to promote the virtues of collections<\/a> and cash recovery, particularly among sales teams.<\/p>\n

\"promouvoir<\/p>\n

In this context, the CashOnTime solution was very interesting, as it works in Saas mode and is therefore very easy to use. A sales rep can log on quickly and have a view of his perimeter to know the status of his customer accounts. Five agents handle collections on behalf of a dozen legal entities. They are the focal point for inter-departmental relations within their perimeter through identified disputes, and meet regularly with stakeholders: Sales Administration, Sales, Training, etc.<\/p>\n

\u201cOn a weekly basis, I generate general reports on overdue accounts, the top 20 most overdue customers, the problems and amounts involved in disputes, resolution times, etc. All this information, derived from CashOnTime, can be used to improve the quality of sales. All this information from CashOnTime is then presented to the finance department. In addition, we set up delinquency committees, for example by involving regional managers in the monitoring of delinquencies<\/a> within their area,\u201d explains Philippe Besson.<\/p>\n

Visiativ, a more than satisfied customer<\/h2>\n

CashOnTime is considered to be a successful quick win project whose positive effects are lasting. The project was carried out step by step, taking into account Visiativ\u2019s particularities. The entire invoicing chain had to be traced in order to fully understand the ins and outs of the overall process, and finally to identify the actions to be anticipated in terms of parameterization. It took just two months to implement CashOnTime and see the first results.<\/p>\n

The Visiativ \u2013 DIMO Software partnership, a key factor for success!<\/h3>\n

One of the keys to the success of this project is good internal communication with all those involved in cash management. Information concerning the implementation of cash collection was circulated internally. Philippe Besson took part in meetings with the Sales, Training and Sales departments to explain his working method. \u201cInitially, we found it easier to work with Sales. Then we worked with the sales people, to resolve disputes or reminders, and get them involved in late payments. To do this, we used reminder strategies via notifications to inform them and ask for additional information. We proceeded by iteration. The changes were gradual and accelerated as the finance department became more sensitive to the issue of recruitment, as a result of covid.<\/p>\n

The relationship with the DIMO Software team was excellent, especially with the consultant, an expert in credit management<\/a>, who added real value with his knowledge. CashOnTime is interfaced with our ERP from which accounting information is retrieved. \u201cWe are in the process of changing our ERP, but we know that this change will not affect our CashOnTime operations.<\/p>\n

CashOnTime, a powerful tool!<\/h3>\n

\u201cDuring containment, we gained 15 days\u2019 DSO<\/a>. Since March 2020, we have been able to recover 4 million euros over 60 days thanks to the tool\u2019s operation and the involvement of sales staff via the tool. Today, our rate of receivables overdue by more than 60 days is close to 16% on a total outstanding of around 10 million, which is more than reasonable,\u201d declares Philippe Besson.<\/p>\n

\"cashontime<\/p>\n

By implementing CashOnTime, Visiativ has optimized its payment lead times and cash receipts, as well as productivity in its dunning processes. The group has also halved the amount of its disputes. Another positive point is that CashOnTime is a structuring tool that helps optimize certain operating modes and develop a \u201ccash culture\u201d within the group. CashOnTime was quickly adopted by users, and ergonomic improvements will add to its ease of use.<\/p>\n

CashOnTime results<\/h2>\n

Just a few months after implementing CashOnTime, Visiativ has seen a consolidation of its DSO in an economic climate that is nonetheless conducive to a deterioration in payment times. At the time of the interview, the gain was 15 days of cash flow.<\/p>\n

What\u2019s more, the CashOnTime software brings undeniable comfort and productivity to cash agents and pilots. The ease of access and readability of information encourages the spread of a cash culture<\/a>.<\/p>\n

The increased cash visibility offered by CashOnTime enables better cash flow forecasting.<\/p>\n

\u201cWhat\u2019s certain is that banks are sensitive to the fact that we have a recovery tool for investment requests\u201d concludes Philippe Besson.<\/p>\n

\u00a0<\/p>\n

Want to find out more about the CashOnTime solution?<\/p>\n

CONTACT US<\/a><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

During containment, we gained 15 days\u2019 DSO. Since March 2020, we have been able to recover 4 million euros over 60 days thanks to the use of the tool and the involvement of sales staff via the tool. 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