Eight Advisory launches its cash control service for medium-sized companies

Eight Advisory launches its cash control service for medium-sized companies

The group, which specialises in advising businesses is responding to a growing need for visibility on liquidity.

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SMEs do not have the resources to employ a treasurer – who costs them around €150,000 a year. Yet they have a crucial need to manage their cash flow closely, as their situation can very quickly tip over into insolvency if they run out of cash. Hence Eight Advisory’s idea to provide them with’Cash control’, a comprehensive solution that gives them the same level of monitoring as a large company, in terms of available cash, cash flows and financing. In its Cash Services division, the firm has specialists who are former group treasurers, as well as a cash management system designed to manage bank flows on behalf of the companies it advises,” explains Stéphane Nénez, partner at Eight Advisory and head of the Cash Services business. We share the costs of a treasury team and a TMS between our corporate clients.


The offer is aimed at small and medium-sized enterprises with a turnover of between 15 and 100 million euros. Various service levels are available, starting with retrieving bank statements to determine daily cash balances. “Many SMEs do not have this information, so they have to connect to web banking tools,” explains the specialist. The subscription costs €1,000 per month.


Safety and learning


In addition to cash, the company’s tool can connect to banks to transfer payments through a secure system for a monthly fee of €3,000. At the same time, the solution prevents malicious intrusions into the company’s systems.


Finally, a third level of service offers ways to optimise cash flow, e.g. by grouping payments together once a week instead of wasting time making them as they are received, etc. The goal of the service is to help companies manage their cash flow effectively and become more solid to eventually set up their own cash management system,” explains Stéphane Nenez.


The feedback from SMEs, private equity funds and court-appointed administrators managing companies in difficulty has been very positive. “More and more SMEs will need to manage their cash flow more closely, given the more difficult context of rising interest rates, inflation, logistical problems and the economic slowdown,” Stéphane Nenez expects.

Copyright, Frédérique Garrouste, L'Agefi




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