The digitisation of Treasury and Data Matching in Mondo Convenienza

The Treasury of Mondo Convenienza started a major project to digitise and streamline administrative processes, the main objectives of which were:

  • The reduction of manual activities with low added value that had a strong impact on work performance;
  • The implementation of the preliminary steps for the subsequent concretisation of the Financial Planning project starting with the Treasury Plan.

In order to accomplish these objectives, a project was implemented to digitise treasury activities through the implementation of the Piteco treasury software.

Prior to the implementation of the Piteco solution, around 30% of the total treasury activity was managed manually

Automated Treasury and Data Matching Processes

The implementation of Piteco’s Treasury and Data Matching software proved to be strategic in facilitating and optimised digitisation processes of the administrative area, speeding up and automating cash management activities and, in particular, the reconciliation of receipts.

Currently, 95 per cent of Treasury processes are handled automatically and 200,000 transfers per year are reconciled automatically, significantly reducing the time spent daily on data matching.

Treasury reporting to support the CFO

Mondo Convenienza’s treasury activities were:

  • Automated by greatly reducing processing times;
  • Speed up by scheduling the exchange and processing of data during non-working hours, generating greater efficiency in the use of human resources and a reduction in process lead times;
  • Standardise by eliminating margins of error and in total safety.

Cash flow trends are an important first indicator of financial performance. Monitoring enables us  to anticipate possible financial stress situations or possible future cash needs.  Therefore it is very important to regularly produce a cash flow report that can represent not only the current situation, but also the elements that have influenced it.

Treasury management through a dedicated tool – and not with excel files – has enabled the production of Treasury reporting, that has become a strategic analysis tool, to better respond to the CFO’s needs in a timely manner.

The realisation of our Treasury project with a partner like Piteco at our side allowed us to seize some very important organisational opportunities.

Luigi Bozza, Asset & Treasury Manager Mondo Convenienza

Optimised organisational processes

The implementation and use of a Treasury system has allowed Mondo Convenienza’s Finance team to take advantage of very important organisational opportunities: thanks to the automation of the more mechanical and compiling operational activities, it has been possible to recover time that resources can now devote to activities with greater added value.