Optimization of working capital requirements

The interim manager selected for this working capital optimisation assignment was immediately operational in Munich.

This interim manager worked on the following priorities:

• Taking over all processes for invoicing and receivables management;
• Update the terms and conditions of software maintenance and licensing contracts;
• Strengthen internal control;
• Update delegation of authority and signature processes;
• Manage cash and current treasury;
• Negotiate short-term credit lines with partner banks;

This 4 month mission was extended to 6 months at the request of the client.
During this one-off and financial reorganisation assignment in Germany :

• the average payment period for customers in Germany was reduced from 48 to 36 days, a gain of 12 days;
• The company's current cash position improved by €2.8 million;
• New short term credit lines have been put in place with 2 partner banks, for a cumulative amount of € 5 million;