"Thanks to its clear understanding of market conditions, Redbridge has helped us reduce our bank fees by 50%. We could never have achieved this kind of result on our own. "
Assignment overview
- Scope: France | over 100 bank accounts | 36 clinics | 9 banking partners surveyed
- Review of cash management conditions
Objectives
- To optimize and standardize banking conditions between banks
- To establish price lists of cash management services valid for all Group institutions, including future acquisitions
- To improve the quality of services and how bank fees are monitored
- To identify the best partners against the backdrop of an impending homogenization of the electronic payment terminal (EPT) network
- To preserve the quality of historical banking relationships
Results
- 50% reduction in cash management costs through:
- Reducing telematics costs by 70%
- Reducing electronic payment costs by 40%
- Reducing CMC or Commission de mouvement de compte by 90%
- Implementation of easier-to-control billing
- Optimization of conditions for SEPA Instant Credit Transfer (SCT Inst) and distance selling
- Three-year contractual agreement
Methodology
- RFP preparation carried out using various sources of information and at different intervals
- Management of a consultation with the Group’s main banks
- Two-round negotiation for optimized conditions
- Initial schedule met
- Provide support until the specifications are signed and the conditions are applied
Redbridge’s added value
- Accurate audit of flow volumes and associated bank fees developed alongside the Group’s teams to better pass on knowledge and habits to be acquired post-consultation
- Accurate knowledge of fair market conditions and banks’ service capabilities
- Project conducted in a manner consistent with the banking relationship
- Results exceeded the Group’s expectations