Interview with Nathalie REGNIER, Cash Reporting user

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ACA, expert in flow management and specialist in management processes.

Interview with Nathalie REGNIER, Cash Reporting user

About the company

International group in the industrial sector

Eutelsat SA is one of the world’s largest commercial satellite operators, with a fleet of 37 satellites covering Europe, Africa, Asia and the Americas and providing transmission capacity to radio broadcasters, audiovisual service providers, telecom operators, ISPs and government organisations.

Nathalie Régnier, Manager of Treasury Management

Annual revenue : € 1.4 billion – 1000 employees

Users : 36 data entry operators, 33 reviewers and 5 active consolidators 

Nathalie Régnier, Group Cash Flow Management Officer at the head office, agreed to share her thoughts about the decision to work with Cash Reporting from the CashSolve line. She’s in charge of preparing reports for the French business units, as well as consolidation of all the Group’s business units.

Background

  • Setting aside an inflexible tool gainning a clear vision of the Group’s cash

The Group reporting tool we used previously for our Cash Flow reporting needs allowed us to gather cash flow information from our subsidiaries in a standardised format. 

It didn’t cover our analysis needs, though, because we were relying on declarative monthly reporting in an inflexible tool.

  • Linking cash flow reporting with the TMS

Alongside our goal of adopting a new cash reporting tool for the Group, we also wanted to have a TMS at the Group level so that we could harmonise the rules, processes and tools relating to cash flow management. The TMS would also need to meet our reporting needs.

We decided to couple the TMS with the CashSolve.net solution, which had been recommended to us separately.

Cash Reporting, the cash flow reporting tool from the CashSolve line, met our requirements in terms of the level of detail in the data and the types of analysis it provided. Its user-friendly design and ease of use were very attractive and important to us, along with the ease of configuration.

The objectives : harmonise processes and make data more reliable

One of the major objectives for this project was harmonisation within the Group, in order to get to a point where we had single processes that would cut down on manual processing with no added value, make the processing and storage of our data more reliable, and standardise the foundations of the group’s development (centralised payment system, management of risks within the Group, a structured framework that’s easy to deploy in a new business unit).

For the top management team, the goal was to quickly and easily generate more reliable data that they could use to make management decisions based on forecasts, and to have an overall view of all the Group’s cash at all times.

The benefits of cash reporting

  • Time savings and improved reliability

This tool saved us huge amounts of time on our analyses, thanks to a less time-consuming data production process. We also have a more fine-grained view of our data because we now have them in the currency of the bank account rather than the functional currency. Having the ability to analyse data by attributes (by currency, by business unit, by budget code, by intercompany partner…) has helped us to make our data more reliable because the verification process is much faster.

  • A collaborative tool : monitoring, traceability and auditability

The ability to include tasks in the tool has been a real plus, because it allows for more effective monitoring of ongoing actions. We can now monitor progress on each task through emails that we can send out directly from the tool. 

  • Monitoring currency risk, analysing before deciding

We’ve set up data validation for actual and provisional data to empower our subsidiaries and their managers.

This new methodology helps to improve the quality of work done at the local level, and makes consolidation easier. The data that come in are reviewed for reliability before we produce the Group-level reporting for our CFO.

Our forecasts are currently based on a rolling 6-month window for our rolling forecasts, which we produce on the 7th day of each month. Cash Reporting will allow us to monitor provisional FX risk per business unit and per currency, while monitoring their development within the Group.

The analyses we’re currently doing are simple comparative analyses between different scenarios (budget/rolling forecast/re-forecast/actual) with a search for discrepancies (budget codes/currencies/business units).

  • Support on the path to independence

ACA’s philosophy is to get its customers working independently as quickly as possible. Our consultant did a great job making himself available when we were in production so that he could respond to urgent issues. ACA’s support was very effective in that it helped us to better understand the tool and ultimately master it after the initial training sessions we had received. We have also received very positive feedback from many users about the tool, which they find to be attractive and user-friendly compared to other tools used within the Group.

In Conclusion

With Cash Reporting, we’re clearly entering an era of increased efficiency, with considerable time savings for the cash flow team at the head office (and for our subsidiaries), allowing us to produce reports focused on cash flow that meet the needs of our Group Treasurer and our top management team. This tool definitely has potential, and I’m very happy to be using it almost every day now.

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