STACI partnered with Sidetrade to predict financial flows on the Sales-to-Cash cycle and optimize customer relationship.
Motivated by ambitious growth targets including the objective to double our turnover right from the next year, the reorganisation of our customer database was divided into 3 main objectives: generate cash, improve visibility on the management of Accounts Receivable and benefit from a solution allowing short-term return on investment,
Charles-Albert Ponce
Chief Administration Officer of the Groupe STACI
Chief Administration Officer of the Groupe STACI
Challenges
- Benefit from a solution to assist in the growth of turnover
- Generate cash across the 2,700 payment sites
- Improve visibility on the management of Accounts Receivable
- Get short-term Return on Investment$
- Accelerate the settlement of the 4,000 monthly invoices
- Resolve queries
Solutions
Sidetrade Network for providing a collaborative, progressive and secure workspace and for its web-based technology.
Solutions
- Acceleration of the settlement of 4,000 monthly invoices
- Passing from a passive to an active approach of handling Receivables
- Automation of the daily tasks of the recovery agents
- Resolution of queries
- Fast productivity gains
After 4 months of using Sidetrade’s solution, the first results are already noticeable as we observed a decrease by almost 10 days in our DSO (Days Sales Outstanding) generating £1.4 million in additional cash; we have already achieved our return on investment. Besides, this solution is adapted to the organisation of our financial processes and allows fast productivity gains,
Charles-Albert Ponce
Groupe STACI
Groupe STACI
Getting cash culture across
The STACI Group is the European leader in Supply Chain Management and generated a turnover of £171M in 2009. Following a LBO, the Group was looking for a long-term solution to improve its Accounts Receivable Management.
In June 2008, a decisive step was taken by adopting Sidetrade’s web-based technology dedicated to optimising its Financial Customer Relationships.
This new solution corresponds with our priorities related to the sharing of customer information. Today, Sidetrade Network is used by 83 employees spread out across 10 sites: eventually, hundreds of employees will have access to Sidetrade’s solution. We have passed from a passive approach to an active handling of our Receivables, representing on an average £15.5 million,
says C.A Ponce, Chief Administration Officer of the STACI Group.
Day-to-day safety
Whether it is to automate the daily tasks of our recovery agents, accelerate the 4,000 monthly invoices settlement or resolve queries… Sidetrade Network centralises the main goals of the dunning of the 350 Key Accounts of the STACI Group divided into 2,700 payment sites.
Given the current economic trends in which credit limits are being reduced, the STACI Group is confident in its ability of generating the cash required for its European expansion plan.
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