Finance Mission

Development of a cash culture within the Group

Pictogramme entreprise

Sector of activity

Industry, raw material extraction

Type of company

Group listed on CAC Mid 60, Euronext Paris

Company size

4 billion € turnover and 16,000 employees worldwide

Pictrogramme travail

Country, city

France, head office in Paris

Type of mission

Interim management, 6 months followed by a recruitment

Position

Senior Credit Manager, Europe Middle East, Africa Zone

CLIENT NEEDS

The group is looking for support to transform itself in the optimization of its financial management.
It wishes to participate in the implementation of new processes to develop a "cash culture", and thus optimize the collection of commercial receivables, in B to B.

FIT IN NETWORK® RESPONSE

Mission de finance développement d'une culture cash

After identifying the client's precise requirements, we launched a search to find the best manager available.

Within 6 working days , we proposed a shortlist of managers specialised in finance, capable of developing this cash culture within the company, and available immediately.

One of them started 4 days after being selected for this interim management mission.

ACHIEVED RESULTS

In six months of mission, the expert retained knew :

  • Mobilize internal skills within the Group, which often work in "silos
  • Set upa monthly Credit Managementreport , distributed to the Executive Committee and to the country managers
  • Organize periodic meetings with the Sales, Finance & Operations Departments to share information and implement action plans
  • Define creditlimits for the Group's main customers
  • Adjust the terms of the credit insurance policy to the needs of the Group's main subsidiaries
  • Develop interfaces between finance, sales, billing and accounts receivable management
  • Acting directly with certain "key accounts" to obtain the collection of old receivables

Mission de finance développement d'une culture cash

CONCLUSION

After a successful 6-month interim management assignment, the client decided to hire the manager on a permanent basis.

CLIENT FEEDBACK ON THE MISSION

Succès mission de finance développement d'une culture cash

"This interim management assignment, carried out by a leading credit management professional, enabled us to create a new dynamic and a "cash culture" within the Group.

This led us to federate all the players who, in one way or another, have an operational and functional action on cash generation: from the operational staff to the sales staff, beyond the company's financial departments.

We also appreciated the regular and professional follow-up carried out by the company FIT in NETWORK®️, from the expression of our initial need and throughout the mission."

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