19 Sep Curium Group improves debt collection by 20% with Aston iTF
Text transcript of the interview with Amélie Baroukh, credit manager at CIS Bio International, Curium Group
Hi, I’m Amélie Baroukh, credit manager at CIS Bio International since 2012, specialising in nuclear medicine.
When I joined this company, I was given the task of managing cash and my mission was to improve the level of cash receipts. So I looked for solutions in the market from various companies. We came across Aston, which seemed to be very well suited to our accounting software and our requirements. We made the choice to cooperate.
(Why did you choose Aston iTF?)
CIS Bio International has a turnover of 110 million euros. Our goal was to reduce the DSO and improve the cash flow. So we implemented Aston and the results were almost immediate. We were able to move away from manual, telephone and email reminders to mass reminders. The results were a 20% increase in collections and a 25% reduction in tedious tasks. As a result, my accountants were able to focus on much more interesting analytical tasks than dunning.
(What gains have you made in your daily life thanks to the Aston iTF platform?)
The implementation was therefore accessible to everyone. For CIS Bio International and for my entire accounting team, the time saved, the gain in efficiency and in data veracity is more than possible. We cannot afford to go back and separate ourselves from Aston.
The Aston platform allows me today to provide my management with dashboards in a rather fast way, as we have a rather important demand. They follow the evolution of the customers, the bad payers as well as the good payers and the evolution of the cash permanently. I am frequently asked to provide precise and concrete data on our customers and on the progress of our aged balance. We have created reports with Aston which now exist directly on the platform. They are dedicated to us and have been personalised by our teams and allow us to produce the reports requested by our management in less than 5 minutes.
Another positive point about the Aston platform is that the data we publish today is an exact reflection of our accounting. We do not question the tables that we distribute to our management or to other internal customers of CIS Bio International.
It was decided to involve the sales staff in cash management. This is why we have developed accesses for each of them, so that they can have access to their customer file during their meetings and can see the state of the account, the outstanding amounts and possibly if there are missing invoices to be able to print them, without having to call the accountants and become autonomous on these tasks.
(To go further! With Aston iTF)
As our cooperation is working very well, we decided when factoring was announced in our company to cooperate again with Aston in order to build up the files, to approach the bank directly, to communicate with them and to provide all the data they needed to do our factoring sessions. The first sessions went well, the data transmitted was once again exhaustive, and from an accounting point of view we can follow everything that happens between our accounting, Aston and the bank and find our way around correctly. This is once again a success for us in terms of cooperation.
Since Aston has this module in its platform, we entrusted it with the task 100%. The implementation of this project was quick. Aston was able to meet all the technical requirements of our bank. The first sessions went smoothly and easily without mobilising internal resources at CIS Bio International.
- 15 January, 2021
Bufab is a trading company that, as a logistics partner, offers its customers complete supply solutions. Their Global Parts Productivity™ service aims to enable our customers to improve the productivity of their parts-related value chain.18 December, 2020
MCB has established partnerships with key players in the credit insurance sector. They help assess the creditworthiness of their existing and potential clients. This will help determine the extent of the credit limit to be used for each of your clients. It provides its services in several industries such as textile, tourism, retail, medical, manufacturing and food industry.28 October, 2020
- 19 September, 2020