Altitude

Altitude Achieves 35% Reduction in Cash Management Costs With Redbridge

Altitude is a French telecommunications group operating across fiber-to-the-home retail services and a B2B division serving enterprise clients. Rapid growth through organic expansion and acquisitions increased complexity across its banking landscape. To establish full transparency over 2024 cash management costs and secure long-term contractual alignment, Altitude partnered with Redbridge to conduct a structured audit and competitive tender process, resulting in a 35% reduction in expenses.

Challenge

Altitude managed 116 companies across core and non-core telecom activities, operating through 308 bank accounts with 24 standalone banks representing seven banking groups. Banking conditions varied significantly across entities, creating inconsistent fee structures and limited visibility into total cash management expenses.

Treasury leadership required a comprehensive calculation of 2024 cash management costs across all business lines, excluding yield on deposits. The group sought to optimize services and pricing, develop unified terms and conditions applicable to current and future entities, and reinforce strategic banking relationships. Achieving these objectives required a disciplined evaluation grounded in accurate data and informed market benchmarks.

Solution

Altitude initiated a full review of its cash management framework and partnered with Redbridge to conduct a Detailed Audit of Transaction Volumes and Fees. Using account analysis statements in the French CFONB banking format, Redbridge calculated current costs across 308 accounts and reconciled transaction volumes and service categories across 24 standalone banks. This process established a precise and exhaustive cost baseline for 2024.

Building on this diagnostic foundation, the group launched a Targeted Competitive Tender Covering Eight Core Banks, representing 84% of its total cash management costs. The tender was structured in two rounds. The first round engaged all eight institutions, while the second focused on those that had progressed toward competitive pricing levels. This staged approach encouraged meaningful repricing while maintaining alignment with Altitude’s long-term banking strategy.

Throughout the process, Redbridge provided calibrated market benchmarks and guided the negotiation framework, ensuring pricing discussions were anchored in fair market conditions and current banking capabilities. The engagement was managed in close collaboration with Altitude’s treasury team, preserving the group’s strategic relationships while advancing optimization objectives. The project concluded with the signing of multi-year contractual agreements designed to apply consistently across existing entities and future acquisitions.

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

35% Reduction in Overall Cash Management Expenses

Altitude achieved a 35% reduction in its total cash management expenses for 2024. The savings reflected structural repricing across multiple service categories rather than isolated adjustments, delivering immediate financial impact across the group’s entities.

51% Reduction in Commission de Mouvement de Compte Fees

A significant portion of the savings was driven by a 51% reduction in Commission de Mouvement de Compte fees. This adjustment aligned pricing with fair market standards and brought greater uniformity across previously fragmented banking arrangements.

Lower Fees Across Core Cash Management and Telematics Services

The competitive tender process produced reductions in fees linked to cash management services, telematics, and other operational banking charges. These improvements streamlined operating costs and enhanced consistency across both retail and B2B business lines.

Simplified and More Transparent Billing Structures Implemented

Altitude introduced clearer and more predictable billing processes, including flat-fee arrangements with two banking partners. These changes reduced administrative complexity and improved the group’s ability to forecast and monitor costs.

Multi-Year Contractual Framework Strengthens Long-Term Governance

Multi-year agreements now provide unified terms and conditions applicable to all current entities as well as future acquisitions. This contractual consistency reinforces financial governance, supports scalability, and ensures durable oversight of banking costs as the group continues to expand.