Created in 1828, Bureau Veritas is a world leader in the fields of testing, inspection and certification.
The group's activity is spread across 550 subsidiaries present in 140 countries and covers the construction, agri-food, marine, industrial and consumer goods sectors, on behalf of some 400,000 clients.
In 2019, the company employed 75,000 people for an estimated turnover of 5.1 billion euros.
The director of group treasury at Bureau Veritas SA (BVSA) explains to us why the company chose NEOFI Solutions. She also discusses the deployment of the solution and its advantages.
Until 2015, the treasury department of Bureau Veritas SA (BVSA) used SaaS software integrating a treasury management module and a banking communication module. This type of software, which brings together many features, has many advantages but revealed its limitations as soon as response times began to deteriorate .
At Bureau Veritas, the role of the treasurer revolves around 2 major activities: (a) the retrieval of banking information (flows and balances) and (b) the daily management of treasury operations (domestic and international). Also, the best way to dilute the risk linked to degraded response times is to dedicate software to each of these 2 activities.
That's why when we decided to use the Swift channel to reach all our banks, we took the opportunity to deploy an independent banking communications platform .
To connect our 500 legal entities, we set out to find a management solution that would be accessible both to local teams, so that they could make their payments and retrieve their bank account statements, and to the central treasury. to manage flows and analyze data.
Our ambition was to be able to have the greatest possible autonomy to administer it and connect all our banks.
We were therefore looking for an extremely flexible flow management platform , equipped of course with banking communication functions, capable of integrating smoothly without disrupting the existing system, by interfacing with both the Finance department's software and those of accounting and treasury.
NEOFI Payment naturally stood out.
This went extremely well since 4 months after the launch of the “kick offmeeting” project, we connected the main BVSA commercial flow banks. The teams took charge of the solution in a truly intuitive manner. We encountered no psychological obstacles in supporting change. Finally, while our environment is sometimes quite particular, we have never suffered a delay, a bug, a refusal to receive anything or a broken promise from NEOFI. The relationship is very healthy .
At NEOFI, the human aspect is very present, throughout the project and now in the operational phase: at the hotline or for advice, the consultants are very responsive, very present and very invested . Proximity and understanding of our problems are a real asset, a great quality.
We wish to deploy the NEOFI platform in our foreign subsidiaries in order to give them access to banking information and then we will consider how to extend the functional scope, particularly by promoting payment functions.
Publication taken from the treasurer's letter of November 2019
