The pending payments are known on a daily basis
Better accounting cash flow forecasting can be done
The project of three entrepreneurs or dreamers is celebrating more than 30 years of history. Ekide, a company whose corporate headquarters are located in Arrasate-Mondragon, currently has more than 100 employees and can boast of being a leading company in the engineering sector and in the development and manufacturing of new products .
Far from resting on its laurels, Ekide has a business-like approach to innovation in all its processes . This is a challenge, given that the company has four production plants and fiji email list facilities in Mexico (engineering, design and manufacturing). In addition to sales offices and an engineering department in the United States, and a design and manufacturing office in China.
In total, the company has more than 190 employees and its annual turnover exceeds 30 million euros.
Sage XRT Treasury reaches new milestones
The company's plan is to continue growing and reach a turnover of 50 million euros in the coming years. To achieve this, the company is investing in innovation in all business areas.
In fact, between 4 and 6% of sales are allocated to the R&D department to undertake all these improvements. To put it in hard numbers, this means that Ekide spends 1.5 million euros a year on improving all its products and processes.
Much of this success, sustained over three decades, is due to a strong financial and treasury management department . Managers have always placed great importance on having what is called an economic and financial cushion with which to be able to respond to daily needs .
Obviously, the larger the company becomes, the more complex it becomes to monitor and control certain processes, such as monitoring unpaid bills (which could only be known at the end of each month), improving cash flow forecasts or providing more reliable information to company management.
As a Sage partner, we also knew that the software on which they could base their business management could also help automate many tasks and routines , so that people in the department could move away from these more tedious issues and contribute more value to the bottom line.
It is true that Ekide carried out a market study to evaluate different alternatives, but advised by us the final choice was Sage XRT Treasury.
The reasons for the choice
When a company like Ekide, a major industrial, manufacturing and innovation company, changes its management and financial structure, the change has to be strongly supported.
In this case, we can say that, as a company with an international vocation, the tool offers functionalities that meet these needs. In addition, Sage is also an international company, so Ekide can be sure that the solution will always be up to date with all changes.
Adaptation and putting into production
Our role as a partner was not only to advise on this decision, but also to oversee the entire implementation of Sage XRT Treasury. Something in which LKS Next has extensive experience.
We have also supported Ekide in its adaptation to this new tool. We are pleased and satisfied to know that Ekide feels supported by our help from the very beginning of the implementation of the solution.
Why do we as a technology consultancy recommend Sage XRT Treasury?
For several reasons. On the one hand, we are dealing with a tool that stands out for its reliability, flexibility, capacity for process automation and ease of use . In addition, during the implementation at the client, very few faults occurred and these were quickly identified and corrected.
Furthermore, on a day-to-day basis, this solution has helped Ekide to establish daily work procedures, eliminating repetitive activities. This, in turn, allows the same people to do many more tasks, and more valuable ones at that. To give us an idea of how this has impacted the business and the day-to-day running of the corporation, it is worth noting that it is estimated that the tool has allowed more than 50% of the transactions to be automated, so that around 15 hours a month are dedicated to bank reconciliation, when previously this operation required two people to dedicate 4 working days to these tasks (around 60 hours).
Foundation for the future
The potential of Sage XRT Treasury is not only for the present, but Ekide plans its future around the possibilities that this solution offers.
The next steps are to further refine financial management in order to make cash flow forecasts six months in advance and to take into account unplaced orders that are known to be incurred.
Ekide has discovered that this software, in addition to being a magnificent tool for controlling and managing cash flows for real forecasts (invoices issued and received), allows for going further by making non-real cash flow forecasts . That is, forecasts for future invoices that will arrive based on pending orders and purchase plans for said orders.
Todas estas posibilidades están permitiendo a Ekide ahorrar mucho tiempo en registrar los movimientos bancarios, llevando al día su contabilización, permitiendo tener informes permanentemente actualizados (especialmente de las facturas impagadas) y realizar las gestiones para su cobro con agilidad y seguridad.
La herramienta de Sage, por tanto, está permitiendo a esta empresa ingeniería puntera ahorrar mucho tiempo en registrar los movimientos bancarios, llevando al día su contabilización, lo que a su vez permite realizar las gestiones para su cobro con agilidad y seguridad.
Caso de éxito de Ekide con LKS y Sage XRT
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