OCEA switches from Excel to Agicap to improve the reliability of its cashflow and investments

The group has been growing since its creation and now employs more than 550 people at 29 sites. It generates sales of over €75 million. This testimonial is based on an interview with Nihal Atasay, Head of Accounting and Consolidation at OCEA Group.

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Key takeaways

  • The ability to project cash flows from its P&L with 90% reliability on customer receipts, VAT and other tax disbursements, social security contributions, etc.

  • A 30% increase in income from cash investments

  • Improvement of their cash reporting

I log on to Agicap twice a week, mainly to monitor and optimise our cash investments. Thanks to Agicap, we have increased the financial income from our investments by 30%.

Nihal Atasay

Head of Accounting and Consolidation for the OCEA Group


employees in 2023




million euros turnover


  • Industry:

    Energy efficiency

  • Size:

    Mid-market (>50M and 250 employees)

  • Where:

    Lyon, France

  • Use cases:

    Improve the reliability of cash flow forecasts and the return on cash investments

Customer’s history

OCEA Group is a French company specialising in energy efficiency in buildings. Their customers are social landlords, co-ownership associations, companies, local authorities, office managers and property developers. They are the only player to integrate the entire value chain, from data collection (water, heating, electricity) to energy performance consultancy, including project management assistance and the integration of electric vehicle charging stations.

Since it was founded in 1996, the company has continued to grow both organically and through acquisitions, such as the 2022 acquisition of Qowisio.

Customer’s needs

OCEA group subscribed to Agicap in 2022 to improve their cash management processes.

At the time, cash management was mainly based on an Excel file using data supplied by management control. However, this unreliable file was hardly used at all.

OCEA group's finance department saw three main benefits from working with Agicap:

  • The ability to project cash flows from its P&L with 90% reliability on customer receipts, VAT and other tax disbursements, social security contributions, etc.

  • A 30% increase in income from cash investments

  • Improvement of their cash reporting


The software is now used by more than a dozen employees in the finance department.

OCEA build their 2-week cash flow forecast in Agicap

The finance department needed to produce 2-week cash flow forecasts, taking into account the following constraints:

  • There are several subsidiaries, but one of them generates most of the business, which means that the others have cash requirements.

  • Financial management is based on P&L, which must be converted into cash.

  • Cash flow forecasts for customer collections were unreliable due to the very large number of customers with diverse profiles.

Thanks to Agicap, OCEA group now has an up-to-date cash flow forecast. The P&L provided by management control is converted into a cash forecast using the dedicated Agicap module. The integration of historical banking data has enabled us to gain a better understanding of past cash flow trends, and thus to better model the cash flow forecast.

Agicap has made it possible to reduce the variation in our cash flow projections and to have a forecast that is 90% reliable and categorised on a daily basis, whereas before we had very macro data.

Nihal Atasay

OCEA Group Head of Accounting and Consolidation

OCEA optimise their cash investments with Agicap

Following the sale of a subsidiary in 2022, the Group had a larger-than-usual cash surplus. With inflation and rising interest rates, it was all the more important to invest it correctly, as the shortfall would have been substantial. Thanks to Agicap, the finance department can define the optimum investment strategy at any given time, based on actual cash performance, and monitor its implementation. Agicap enables them to determine the remaining cash to be invested and the maximum investment period.

OCEA improve their reporting thanks to Agicap

Every month, the Finance Department prepares a cash report for General Management. It focuses on changes in the cash position compared to the previous month and year. At the same time, twice a year, in May and October, the forecasted P&L is done, enabling Nihal to update cash forecasts thanks to easy access to the difference between actual and forecast and the new EBITDA targets. The integration of Agicap has accelerated this process. Actual and forecast data are automatically reprocessed in the form of graphs in Agicap, so you can move from analysis to action. Above all, all the data can be exported in Excel format for reporting. "When I prepare my reports, I can export data from Agicap in just a few clicks to update my Excel file, to which I add other data. Eventually, however, the aim is to produce reports directly from Agicap's dashboards for the Finance Department." Nihal Atasay, Head of Accounting and Consolidation, OCEA Group.


By using Agicap, OCEA was able to reliably project their cash flows, increase their income from cash investments and improve their cash reporting. In addition, OCEA has been able to optimise their cash investments thanks to the financial strategy proposed by Agicap. Thanks to the data provided by Agicap, OCEA was able to reduce the discrepancies between forecasts and actuals and obtain a reliable forecast.

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