Corriere dello Sport manages its collections in just 10 minutes with Agicap
Lorenzo Giarritiello, Financial Accountant at Corriere dello Sport, explains how the company, thanks to Agicap, was able to overcome challenges related to treasury management in the publishing world.
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Key takeaways
In the publishing industry, treasury management is often slowed down by manual Excel processes: time-consuming, error-prone activities with little added value
With Agicap, cash flow visibility and scenario planning are combined in a single tool, overcoming the limits of Excel and making it easier to analyse different strategic alternatives
Thanks to the tool, collection times have been reduced, increasing the speed of daily operations and lowering credit risk
" If I had to describe Agicap in three words, I would say: simple, fast and collaborative. "
100
years of history
More than 100
employees in Italy
40+
million euro annual turnover
Customer’s history
Corriere dello Sport was founded on 20 October 1924 in Bologna as a sports newspaper, but its core business has expanded to other areas over time. The great success that has always distinguished it has enabled it to become one of the three major national sports newspapers.
For a company of this magnitude, it was necessary to equip itself with a financial instrument that would allow automatic integration with banks, the possibility of accurate cash forecasts and effective credit monitoring.
" Before Agicap, data was aggregated through Excel, but the growing workload required a faster and more realistic tool. It was clear that we needed to automate the integration of banking and accounting data to support quicker and more accurate financial decisions. "
Customer’s needs
Integration with banking and accounting tools to save time and reduce errors
Ability to create accurate forecasts for the future
More effective credit management
Immediate access to financial data, with intuitive dashboards also available on mobile
Solution
Thanks to Agicap, Corriere dello Sport achieved several advantages in financial management.
First of all, the use of the tool has made it possible to streamline the collection of financial data, which previously took place via Excel spreadsheets: time-consuming manual work with no added value and often leading to errors. Now it only takes a few clicks to get all the financial information in one dashboard, always available on mobile.
A key role is played by the scenario planning function, which allows the finance team to obtain more accurate and constantly updated forecasts. This makes it possible to analyse different situations, such as hiring new staff or a drop in turnover, and keep the company’s financial direction under control.
In addition, the automatic classification of data has drastically reduced the time needed to manage collections, cutting the process from several days to just 10 minutes, while at the same time lowering credit risk.
Finally, it is crucial for the team to be able to easily provide information to management, thanks to easy-to-create and easy-to-consult dashboards, which can also be checked via apps wherever and whenever they are.
" The fact that we already have this information in Agicap seems trivial, but it actually lets us know the current cash situation. It is as if previous information asymmetries have been eliminated. Also remarkable is the possibility of integrating bank accounts, for example, with the possibility of working through dashboards and thus building ad hoc KPIs on customers and suppliers. "
Also crucial for Corriere dello Sport is the use of the chat with Agicap's consultants, which responds quickly to customer needs.
" Interfacing with support colleagues on a daily basis makes me feel more confident in using the software. "
Conclusion
With Agicap, both business management and banking data now merge into one tool, and collection times are reduced, improving the speed of work and lowering credit risk.
Thanks to the use of scenarios, in addition to having a real idea of the company's direction, it is also possible to work on financial forecasts.
In general, the tool has made it possible to streamline all those data collection processes that previously involved manual work without added value.
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