Carrefour chooses CashSolve to make its cash and balance sheet forecasts more reliable

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Carrefour chooses CashSolve to make its cash and balance sheet forecasts more reliable

Ensuring a secure and reliable process for forecasting cash flow and balance sheet items

About the company

Carrefour France, France’s largest hypermarket retailer, chooses CashSolve for its cash flow and balance sheet forecasts.

We sat down with Marc Lecomte, Director Treasury France, to understand the issues of the Group and the desire to improve the cash flow forecast.

Background

  • Consolidated forecasts with regular updates

Each year, the Carrefour France group produces a budget for its profit and loss statement, balance sheet and financing statements. This information is produced at a consolidated level and sent to the group’s Cash Flow department in Brussels to be consolidated with the data from other countries.

The Carrefour France group needs a clear, accurate view of its cash flow. To achieve this, its financial teams must provide regular budget updates, coupled with monthly cash-flow, financing and net-debt forecasts.

  • Exit the Excel template for more reliability and traceability

The group had developed its own cash-flow and balance-sheet forecasting model in Excel. But they found themselves spending an enormous about of time producing this information every month, leaving too little time for analysis.

The group also wanted to improve the reliability of its forecasts, ensure traceability on the assumptions being used, and make it easier to analyse discrepancies between forecasts and actual results. 

Why CashSolve ?

  • Automate the forecasting process
    CashSolve is extremely configurable, allowing Carrefour France to improve and automate the existing Excel-based forecasting process
  • Analyze the gaps and update
    Traceability on the assumptions used in forecasts, and the ability to integrate actual cash flows, make it easier to analyse discrepancies and update forecasts.
  • Simulate the hypotheses
    The automation provided by CashSolve means that users can very quickly transform a new budget version into a cash flow forecast and simulate different assumptions for increased reactivity and flexibility.

To conclude

We were stuck in a complex, hard-to-change model that was very costly in terms of maintenance time and not very well automated. CashSolve allowed us to regain control of our average capital forecasts, ensure consistency between our cash flow forecasts and the provisional balance sheet, and increase security and integration with our existing accounting and budgeting systems. Marc Lecomte, Cash Flow Director, France

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