Bofrost* automates cash management and cuts reporting time across 35 entities
Emilia Barrientos Luque, Controller, explains how implementing Agicap has helped streamline cash management and group reporting.
Read moreKey takeaways
Bofrost* Spain oversees 35 local branches — making financial data consolidation and process standardization a major challenge. On top of this challenge, the group ERP (SAP S/4 HANA) hadn’t been updated in over 15 years, forcing Spanish subsidiary teams to find workaround solutions with manual processes resulting in inefficiencies and delayed reporting.
Agicap enabled real-time cash flow visibility through direct bank connectivity, streamlined reporting by automating data extraction & consolidation, and empowered the treasury team to focus on value-added activities.
Thanks to Agicap, the treasury team was also able to set up several scenarios enabling Bofrost* Spain to react much faster to external shocks (e.g. Dana storm shutting down all local agencies in the region of Valencia) thanks to better visualization of financial data.
" With Agicap, we have everything in the dashboard. If anybody needs information about payments, financials, invoice deadlines, or liquidity, we can filter easily and send it over to them. We don’t need to block this information. Now, we are investing our time in making decisions, improving accuracy and efficiency in treasury management. "
18 000
invoices handled per year
35
local branches
1 000
employees
Customer’s history
Bofrost is a leading European group specializing in the direct-to-consumer distribution of frozen foods, with operations in multiple countries, 10,000 employees, and a fleet of 5,000 trucks. Its Spanish subsidiary, headquartered in Córdoba, employs nearly 1,000 people across 35 branches nationwide and serves 220,000 customers.
Customer’s needs
Unification of treasury processes across 35 semi-autonomous branches, each operating with its own set of transactions and suppliers.
Automation of manual categorization of all the banking transactions and their allocation to the correct branch (all happen on a single bank account) as well as automation of manual bank reconciliation (1,500 invoices per month).
Automation of manual reporting to reduce the time spent on data extraction, consolidation, and dashboard creation to speed up responses to data inquiries.
Real-time visibility into cash flow, liquidity, and payments to support both local and group-level reporting requirements with SAP S/4 HANA as source of truth.
Standardization of financial data to ensure all departments within the Spanish subsidiary work with the same reliable set of data instead of fragmented information
Solution
Agicap provided Bofrost* Spain with a centralized and intuitive platform that fundamentally transformed treasury operations. By integrating seamlessly with SAP S/4 HANA and the company’s bank accounts using the EDITRAN protocol, Agicap enabled real-time consolidation of financial data from all 35 branches into a single, accessible dashboard. This eliminated the need for manual data exports and the laborious process of combining multiple Excel files, significantly reducing the time required for reporting and analysis.
The treasury team can now generate customized dashboards and reports instantly, providing immediate visibility into cash flow, payments, and liquidity positions. The platform’s user-friendly interface has empowered team members to take ownership of financial information, enhancing engagement and collaboration within the department.
Agicap’s scenario planning capabilities have proven invaluable, allowing the team to quickly assess and manage liquidity risks during unexpected events, such as the temporary closure of a branch:
" With the DANA storm, our Valencia branch stopped. Thanks to Agicap we were able to keep our visibility on our liquidity situation both at national and local agency levels. The scenarios helped us model the decrease in turnover and the data available in real-time gave us the correct insights for our decisions. "
Furthermore, Agicap has streamlined payment management through direct bank connectivity, enabling the selection and scheduling of payments directly within the tool.
The solution has also standardized financial data and reporting across departments, ensuring that all stakeholders work with consistent and reliable information. Building the reports for group headquarters in Germany took up to two weeks before Agicap as data had to be consolidated in several Excel files to then be refined into readable dashboards.
Throughout the implementation, Agicap’s local support team provided tailored training and ongoing assistance, ensuring a smooth and effective transition for Bofrost* Spain.
Conclusion
The adoption of Agicap has transformed Bofrost* Spain's treasury operations by providing real-time visibility and process automation.
The success in Spain has set a benchmark for the wider group, demonstrating the value of modern, intuitive treasury management solutions for mid-sized companies facing operational complexity and growth.
Émilia Barrientos Luque concludes: "We are very happy with Agicap. It has allowed us to invest our time in decision-making and efficiency, rather than manual reporting."
