Banking integration, forecasting and credit monitoring: the case of Corriere dello Sport
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
Thanks to Agicap, both cash flow management and visibility of banking data are merged into one tool, where the information is now outlined, clear and transparent, thus achieving greater efficiency than that provided by Excel.
With the use of scenarios, in addition to getting a real idea of the company's financial direction, alternative situations can be analysed to get everything under control.
With Agicap, collection times have been reduced, increasing the speed of daily work 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
Corriere dello Sport
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 using Excel, but the ever-increasing workload necessitated the use of a faster and more realistic tool. "
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
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.
Then, an important role is played by the function of forecast scenarios, with which the finance department can check the course of future business in the event of, for example, the hiring of new staff or drops in turnover.
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.
Know more about us
Hornberger Consulting
Business Sector:
Business services
Where:
Hamburg, Germany
Cashflow Problem:
Anticipate cash flow shortages beforehand, craft scenarios that are based on actual financial data, extend ERP-systems with cash flow management capabilities
M2A Media
Business Sector:
Media Agency
Where:
London, United Kingdom
Cashflow Problem:
Manage multiple entities during internalization, managing different currencies and different banking providers
“Agicap provides the view the board needs if it is going to make strategic decisions.”
Business Sector:
Software Development
Where:
Dublin, Ireland
Cashflow Problem:
High manual effort in consolidating the cash flow data of 8 companies and 15 bank accounts, high susceptibility to errors, outdated data and hardly any chance to provide management with reliable reports for strategic decisions.
