How Madeo Group automated 95% of bank reconciliation

The Madeo Group is a family-owned agri-food business specializing in the production of premium cured meats, including black pig and Calabrian PDO products. Today, the Group is organized into 5 entities covering every stage of the production process, with revenue of around €30 million, more than 50% export, and 150 employees. Its model is an integrated value chain, where farming, livestock raising, processing, and commercialization are handled within the Group’s companies. This setup is also capital-intensive, with significant invested capital in both working capital and fixed assets.

In a multi-entity environment, treasury and liquidity management required constant coordination across people, departments, and banks. For the finance team, the priority was to gain a reliable, real-time view of cash flows, reducing time spent collecting information and increasing time dedicated to analysis and decision-making.

Agicap was adopted as an all-in-one platform to centralize the Group’s treasury and automate operational processes — from bank visibility and reconciliation to payments, cards, and receivables management.

1) Consolidated bank visibility and automated reconciliation ( via journal entries)

With bank connectivity enabled, Agicap automatically retrieves transactions without the team having to log into online banking portals. For Madeo, which works with 7 banks, this represents an estimated daily savings of 15–30 minutes.

Based on this data, Agicap helped automate two distinct activities, both central to day-to-day operations:

• Matching transactions to invoices (open-item settlement): when a payment is recorded by the bank, the platform supports matching it to the related invoice, drastically reducing manual search, verification, and settlement work.

• Creating and exporting journal entries: transactions are categorized and converted into accounting entries directly in Agicap. This step is now largely automated thanks to rules and AI-based suggestions, delivering the biggest operational gains across volumes of around 1,200 transactions per month (about 50 per day).

Finally, the entries are exported to the ERP, ensuring continuity with accounting processes and drastically reducing manual intervention. Today, Madeo has automated 95% of the creation and export of journal entries from bank transactions.

" The lack of an overall view of Group treasury and cash flows had a negative impact on business decisions, especially in a business like ours that is strongly growth-oriented. Today, with Agicap, we can review Group liquidity and forward-looking cash movements in just a few moments. As a result, it is now much easier for me and our team to make strategic decisions, such as planning investments. "

Francesco Madeo

CFO, Madeo Group

2) 13-week cash forecast and cash pooling optimization

With Agicap, Madeo adopted a 13-week forecast to anticipate debt maturities and key bank movements. This helps minimize balancing transfers, optimize cash pooling, and automate liquidity balancing at group level.

3) More efficient payments: from manual transfers to bulk flows

The payment process was modernized by moving from manual entry of individual transfers (about 5–10 minutes per payment) to a more structured approach using XML files compatible with banking standards. Today, the team can run bulk payments of up to 50 transfers in a single batch, reducing operational time and error risk.

4) Corporate cards: simplified management and expense reporting

After migrating cards into Agicap, expense reporting became more streamlined: receipts uploaded via app or portal, review and approval by the treasurer, and automated reconciliation via bank account debits. The result is improved expense traceability and more timely control.

5) Receivables and DSO: consolidated view and customer portal

With Agicap, the Madeo Group uses a dedicated receivables module that provides a dashboard to monitor the entire customer portfolio: top debtors, exposures, average days past due, and unpaid invoices. In addition, the customer portal allows customers to view both overdue and upcoming invoices, encouraging more timely payments and supporting the DSO reduction objective.

Key benefits achieved

• True centralization in a single platform: 8 people work in the same environment across collections, payments, cards, and liquidity, with simpler training and collaboration.

• Automation and time savings: with bank connectivity and accounting entries, the process shifts from daily manual work to a largely automated flow (95%).

• Faster, better-informed decisions: a 13-week forecast to plan cash flows, debt, and cash balancing more reliably.

• More efficient operations: bulk payments and streamlined card management, with fewer steps and lower error risk.

" To monitor liquidity on a daily basis, we simply open Agicap. Just click “Sync” to get a consolidated view of our treasury. "

Pierfrancesco Rima

Treasurer, Madeo Group