Traction, the optical wholesaler with a clear view of its cash flow

Business sector: Retail

Where: Lons le Saunier, France

Cashflow challenges: Controlling WCR and consolidating bank accounts locally and abroad

Master your cash flow simply with Agicap

Traction Productions was founded in 1872 and specialises in the production and distribution of optical and sunglasses frames.

In the optical wholesale business, the challenges in terms of cash flow are mainly based on the diversity of players and their geographical location "which makes things complicated" as Lucas Gros, Managing Director of Traction Productions Eyewear, points out. Read his account of how he uses Agicap on a daily basis.

Controlling a large working capital requirement

As a manufacturer, the purchase of raw materials and, as a distributor, the import of frames, are the source of a significant cash flow gap until the final sale.

"In our wholesale business, our activity is based on large volumes of purchases in relation to turnover, so the issue of working capital is important."

Lucas Gros, CEO of Traction

He continues, "We also have needs in terms of collection renewal and availability, a product that puts a lot of pressure on our cash flow. It is therefore necessary for Traction Productions to have a good visibility on its resources and cash flow as Lucas Gros mentions "a better understanding and forecasting of our needs and our availability is absolutely essential".

Analyse cash flow, Forecast, Plan, Act

Traction Productions Eyewear has therefore chosen to use Agicap to manage its cash flow. With the Agicap cash management tool, they can now monitor their cash receipts and disbursements in real time, detect any fluctuations, make forecasts and draw up scenarios to ensure a good development plan.

The General Manager of Traction Productions explains: "We are better equipped to analyse information, to forecast it, to anticipate alert thresholds that we might encounter and, as a result, to develop room for manoeuvre that will serve our growth. published

Consolidating all accounts and managing multi-currency issues

The optical wholesaler has several bank accounts in France and abroad, which greatly complicates their overall cash visibility. Problem solved with Agicap. Lucas Gros explains: "Agicap enables the consolidation of all the banking information that we may have on a single platform that is automatically updated.

Thus, the company can easily monitor the current and future balances of each of its bank accounts and benefit from a consolidated view in real time.

Another obstacle faced by Traction Productions due to their global business is the different currencies. The Managing Director explains: "We work with 7 currencies on a daily basis". Agicap enabled them to homogenise their data in euros thanks to automatic currency conversion and to save considerable time: "In the configuration of a multi-currency system, Agicap is a precious help.

"So we integrate bank accounts that are based in foreign currencies and the information is automatically converted into euros and consolidated with the rest of the cash."

Lucas Gros, CEO of Traction

Convinced by Agicap, Lucas Gros concludes "The main benefit of using Agicap, although I don't necessarily mention the time saving which is obvious, is above all the accuracy of the analyses that can be produced by such a tool because of its practicality."

The best tool for serenely managing your cash flow and promoting the growth of your company!

Would you like to manage your cash flow as easily as Traction Productions? Try our tool free of charge and without obligation.