A listed family company, MANUTAN International is a leading European distance selling company that generates a turnover of £439 million across Europe. Through its French subsidiary, MANUTAN sells 80,000 products for materials handling, lifting, storage, manufacturing supplies, safety, hygiene packaging products, office/workshop equipment, supplies, and consumables.
In 2008, MANUTAN had to manage a permanent portfolio of over 150,000 invoices.
MANUTAN decided to equip the organisation with a solution to manage customer accounts and control client risks. The objective was to make the company more agile and provide operational support for the customer's financial relationship.
Arnaud Lebert, Head of collections of MANUTAN, explains, "In late 2008, we compared several software solutions before choosing Sidetrade, the European market leader. Selection criteria were based on the SaaS model, which allows us to be IT independent and drive the dunning process independently. For example, we are fully in control of targets." Since May 2009, 10 collection agents at the headquarters have daily updates of their accounts. With Sidetrade Network, the administration has been reduced and more effective processes have been put in place.
"A perfect choice that gives us productivity gains, performance analysis, and unparalleled visibility of our cash situation," says Odile Schmutz, Director of Finance and Administration MANUTAN Southern Europe." We had to ensure on-time payment to our suppliers. Applying supplier payment terms equal or below 60 days, we absolutely had to compensate the cash flow difference by improving the outstanding sales management."
ACCELERATED INTERNATIONAL DEPLOYMENT
Sidetrade was piloted in France before deployment to Spain, Portugal. Italy and Belgium. " We really appreciate the flexibility of the Sidetrade consultants who have successfully adopted to the constraints of our internal projects.This project met the set deadlines thanks to the responsive teams and efficient skills. Our experts have been trained to successfully and independently deploy Sidetrade Network for subsidiaries in the euro area. " says Odle Schmutz.
"Sidetrade Network allowed us to manage the structure of our database and to share best practices across the Group. We are now able to consolidate our outstanding sales for Southern Europe and easily compare trends Individual finance teams can monitor activities and effectiveness of actions undertaken across all countries. " says Pose-Marie Guorrato. Credit Manager of MANUTAN.
8 DAYS DSO DECREASE IN 8 MONTHS
"The success of this project was immediate. Network Sidetrade won the support of all users. Dunning the first eight months, the DSO has decreased by 8 days. generating over E5.3 million of additional cash. Queries decreased by 30% over the same period. which exceeds our expectations. " concludes Odle Schmutz.