Celinzo Group optimises WCR and recovers £0.8M with Agicap
Mathieu Pistol (Group CFO) and Sébastien Dauteuille (Accounting Manager) share how the implementation of Agicap optimised WCR and automated AR/AP cash workflows, without expanding the finance team.
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Key takeaways
Operating in the high-volume B2B food and snacking distribution sector, Celinzo manages razor-thin margins and faces high Working Capital Requirements (WCR). Precise and real-time cash tracking is absolutely critical for the group's survival and growth.
Prior to Agicap, cash management relied on static Excel spreadsheets, manual ledger reviews, and unintegrated systems. This lack of integration trapped £0.8M in uncollected accounts receivable, driving up DSO and exposing the business to significant working capital risks.
By deploying Agicap integrated with its ERP Sage 100 ERP, Celinzo automated supplier workflows, digitised customer dunning, secured EBICS TS payments, and recovered £0.8M in cash to support its M&A growth ambitions.
" Agicap is a cash management and forecasting solution, but it's also much more than that. It allows us to act directly on WCR to better control it, both on supplier payments and customer dunning. "
£35M
in turnover
2
entities
300+
supplier invoices per month
Customer’s history
Celinzo is a French B2B wholesale distribution group generating £35M in consolidated turnover with around 40 employees. The group operates through two operational subsidiaries: Vivendia (£12M turnover), specialised in automated vending machine distribution (400 SKUs), and Confisud (£12M turnover), dedicated to snacking distribution for leisure venues, attraction parks, and cinemas (100 SKUs).
The group consolidated its operational activities and logistics warehouse onto a single strategic site in Sénas in late 2024. To support an ambitious growth strategy aimed at doubling turnover through organic development and targeted M&A acquisitions, Celinzo launched a comprehensive digitalisation overhaul in H2 2025, integrating a new WMS, a new ERP (Sage 100), and Agicap as TMS (Treasury Management Software).
Financial management is fully centralised under a lean 3-person finance team (Group CFO, Accounting Manager, and Accounting Assistant). In a business model defined by high transaction volumes (over 1,000 monthly invoices) and thin margins sensitive to price adjustments (tracked up to 4 decimal places), the team requires seamless integration between operational supply chain software and the core treasury system.
Customer’s needs
Facing high transaction volumes and significant working capital pressure, Celinzo needed to eliminate manual financial bottlenecks to support its growth strategy:
Eliminate manual spreadsheet-based cash tracking to replace static budget monitoring with real-time, consolidated multi-entity intraday cash visibility.
Recover over £0.8M in overdue customer receivables accumulated across 2023–2024 due to the lack of an automated dunning structure across 300+ active accounts.
Streamline Accounts Payable (AP) workflows to process over 300 monthly supplier invoices and eliminate 2 hours of daily manual invoice matching.
Secure payment execution channels by replacing manual wire transfers with EBICS TS banking protocol and 3SKey dual-validation electronic signatures.
Solution
Celinzo deployed Agicap as part of its global IT modernisation plan in three main steps:
System & Banking Connectivity: Direct EBICS TS connections were established with key banking partners (CIC, Banque Palatine, Crédit Agricole) for automated daily bank statement retrieval and secure payment transmission. An API connector was deployed between Sage 100 and Agicap to enable overnight synchronisation of purchase orders, delivery notes, supplier and customer invoices, and accounting entries.
AP & AR Workflow Automation: Agicap automated supplier invoice collection via dedicated email routing, line-item pre-accounting matching down to 4 decimal places, and multi-department validation workflows (Procurement, Finance, Transport). Simultaneously, automated 3-stage customer dunning routines (Reminder 1, Reminder 2, Formal Notice) were activated across 300+ active client accounts.
Cash Forecasting & Spend Management: Multi-scenario cash forecasting (baseline vs. downside) was established to closely monitor WCR and ensure sufficient liquidity headroom for M&A opportunities. Additionally, Agicap corporate cards were rolled out to management and sales teams, ensuring real-time expense tracking to increase cash positioning accuracy.
Main benefits achieved:
£0.8M in Overdue Receivables Recovered: Automated multi-stage dunning routines enabled Celinzo to systematically collect £0.8M in long-standing 2023–2024 debts across 300+ accounts, drastically reducing DSO and restoring WCR balance.
Massive AP Time Savings: Supplier payment setup time was reduced from 2 hours every morning to just 1 hour per week, eliminating manual general ledger checking and data entry errors.
Institutional-Grade Payment Security: The combination of EBICS TS channels and 3SKey electronic signatures established strict segregation of duties between payment preparation (Accounting Manager) and final execution (CFO).
Intraday WCR & Liquidity Overview: Real-time intraday bank positions and automated intra-group transfer capabilities enabled precise daily cash balancing between subsidiaries and holding entities.
" Agicap allowed us to make supplier data reliable and streamlined the AP process end-to-end, from invoice receipt to validation and payment. It's a huge time-saver for us. "
Conclusion
The integration of Agicap into Celinzo's financial IT stack transformed treasury management from a manual administrative burden into a streamlined working capital engine. By plugging the ERP Sage 100 into a unified platform, Agicap has established a shared cash culture across purchasing, sales administration, and executive management.
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