Compta Bretagne Services is a French company which manages several ACCOR hotels (Ibis, Mercure, MGallery) 30 in France and 5 in Switzerland.
Stéphanie Chevallier, the Administrative and Financial Director , explains to us why and how choosing NEOFI facilitates the work of her treasury team.
Until 2019, Accor Hôtels SA carried out the accounting for the 5 Swiss hotels, before CBS29 decided to internalize it. Since then, account statements have been retrieved each morning by CBS29 via Kyriba.
However, the latter not being usable in their raw state, they were first imported into Excel, transformed manually by our team, then integrated into the SAGE 1000 ERP, a very time-consuming and error-prone task. This daily reprocessing of files quickly proved tedious and it quickly became necessary to consider automating it in order to free up human time for higher value-added tasks. We therefore began looking for a solution capable of retrieving account statements from Kyriba , transforming them according to complex conditional rules before automatically loading them into the SAGE ERP .
It was while searching for banking transformation solutions on the internet that we found the NEOFI solution. Once we made contact with the NEOFI sales department, we were definitely convinced after a demonstration of their solution . The criteria that guided our choice were the power of the rules engine as well as the very quick implementation time.
NEOFI has set up a process which receives by e-mail the account statements which Kyriba sends in Excel format (but whatever the format, an MT940 would have done just as well), then which reads each statement data before generate the corresponding accounting entries (1 movement line generates 3 entries).
The complexity lies in reading the data linked to commissions charged by credit cards: present in the additional fields of the statement, these commissions are displayed in different forms depending on the card used and the bank statement.
Thanks to its various nested functions, NEOFI can search for a particular character string and capture the numerical values which follow this string then check the consistency of this numerical data with the overall amount debited.
The generation of the three linked accounting entries is then only a simple formality since it is linked to previously completed benchmarks.
It took a few weeks to adjust the adjustments and obtain a file that perfectly met all our expectations. It is important to clearly define in advance the criteria for correspondence between the source file and the needs for proper integration of the entries into the correct accounting accounts. The difficulty also lies in the fact that the banking format of the additional fields is often different from one bank to another and that data recovery is not fixed because banks regularly create new interbank codes.
The deployment was done in a few weeks. The responsiveness and efficiency of NEOFI have reinforced our confidence for the continuation of our collaboration: all processing is now completely automated, which allows us to save 3 hours per day .
To continue to gain in productivity, we would now like to evolve the tool so that it is able to adapt to changes as soon as the bank modifies the formats. We know that we can count on the NEOFI team to support us in this project.
