The hearing aid company that consolidates its cash flow with Agicap: Vivason
Jean-François Olivesi, CFO at Vivason, explains how Agicap helped to centralize and have a consolidated view of their cash flows.
Read moreWatch the videoKey takeaways
Centralize the cash flow of the company and have a consolidated view of the cash flows of all their entities
Dynamic cash flow management, for the group and for each entities
Vivason
Customer’s history
With more than 50 hearing centers in France, Vivason is a reference in the field. In full expansion, the company has many cash flow issues.
Since his arrival as CFO, Jean-François Olivesi has been able to identify an important need to consolidate past and future data for cash flow forecasting.
We have a certain number of legal entities, so we can have this vision by entity and we also have a vision of consolidation, which is really the vision of the hat. And in this vision of consolidation, we can go back down by legal entity, or even to the level of the store. So at a very precise level.
Customer’s needs
With many entities, Vivason has a significant need for data consolidation. Until the arrival of Jean-François Olivesi, the company was working on Excel for its financial and cash management. He explains that these operations were time-consuming and manual and did not allow for a good consolidation of cash flow data. Furthermore, the functioning of Vivason leads to a relatively important need of working capital. Once the hearing aids are paid by their customers, Vivason is waiting for the reimbursement of the mutual insurance companies and the social security, whose payment delays are very variable.
Jean-François Olivesi needed a reliable and efficient tool to process cash flows and analyze his WCR.
Solution
Vivason is a growing SME which has many issues: reporting to shareholders, monthly closing, steering committee, cash flow monitoring. The automation of the data and the centralization of the various tools and bank accounts on a single tool became necessary.
What I really wanted was a tool that automatically categorizes my flows. And on the forecasting part, to be able to forecast in a simple yet sophisticated way.
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