Altitude

Altitude Achieves 35% Reduction in Cash Management Costs With Redbridge

Altitude is a major telecommunications group operating across multiple business lines in France, including fiber-to-the-home retail services and a B2B division serving enterprise clients. The organization has grown rapidly in recent years, expanding its footprint through both organic development and acquisitions. This growth introduced increasing complexity in cash management, banking relationships, and fee structures across its many entities.

With more than one hundred companies and hundreds of bank accounts spread across several banking groups, Altitude sought a data-driven, transparent view of its cash management costs. The group engaged Redbridge to evaluate existing banking arrangements and negotiate optimized conditions that could support long-term efficiency and ongoing expansion.

Challenge

Altitude managed 116 companies across its core and non-core activities, all operating with varying banking terms, inconsistent fee structures, and limited visibility into total cash management expenses. The group oversaw 308 bank accounts with 24 standalone banks from seven banking groups, creating a fragmented environment that obscured true costs and made it difficult to implement consistent financial controls.

The organization needed a comprehensive review of 2024 cash management costs, including all business lines and future acquisitions. Altitude also aimed to simplify fee structures, reinforce strategic banking partnerships, and secure long-term terms and conditions that would remain resilient as the group continued to scale. To achieve these goals, the group required a structured evaluation supported by deep banking industry knowledge.

Solution

Redbridge conducted an end-to-end audit of Altitude’s cash management setup, analyzing account analysis statements in the CFONB format from 24 standalone banks. This review established a precise baseline of current transaction volumes, cash management services, and associated fees.

Redbridge then coordinated a focused tender involving eight banks representing 84 percent of Altitude’s total cash management costs. The process took place in two stages. The first engaged all eight banks, while the second was reserved for those that had progressed toward competitive pricing. This structure ensured meaningful negotiation and preserved the group’s commitment to maintaining strong banking relationships.

Throughout the project, Redbridge collaborated closely with Altitude’s treasury team, validating findings, aligning negotiation objectives, and guiding the group through contract finalization. The engagement resulted in multi-year agreements providing long-term transparency and consistent terms across all current and future entities.

Results

Cash management expenses reduced by 35 percent

Altitude achieved a significant cost reduction across its cash management activities. The savings reflected improvements across multiple fee categories and provided immediate financial impact for all group entities.

Commission de Mouvement de Compte (CMC) reduced by 51 percent

A substantial portion of the savings was driven by a 51 percent reduction in CMC fees. This adjustment aligned Altitude’s pricing with fair market conditions and brought greater uniformity to fees across the group.

Lower fees across key cash management services

The review and negotiation process led to reductions in fees associated with cash management operations, telematics, and various day-to-day banking services. These improvements streamlined operating costs and enhanced consistency across business lines.

Simplified and more transparent billing processes

Altitude implemented clearer, more predictable fee structures, including flat-fee arrangements with two banks. These changes reduced administrative complexity and improved the group’s ability to manage and forecast costs.

Long-term visibility supported by multi-year agreements

Multi-year contracts now provide unified terms and conditions for all existing entities, as well as companies to be acquired in the future. This consistency strengthens Altitude’s financial governance and supports strategic growth.