"Redbridge enabled us to achieve savings and implement best-in-class transaction services, whilst respecting our valued bank relationships. "
Mandate type
- Harmonization of service quality and renegotiation of cash management services fees
Scope: France
Objectives
- Optimize and harmonize banking conditions between banks
- Define Group-wide bank service fees
- Improve service quality and capability to monitor bank service fees
- Preserve the quality of historical banking relationships
Results
- Downward harmonisation of bank service fees
- Abolition of the ‘Commission De Mouvement’ fees
- Particular attention was paid to the specifics of the construction industry (group accounts and SEPs*)
Methodology
- Analysis of the data contained in the Treasury Management System
- Design and management of an RFP process with group banks
- Two rounds of negotiation to achieve the optimal set of conditions
- Project delivered on time
- Redbridge was involved right up to the signing of the new bank service fee conditions
Redbridge’s added value
- Project carried out with respect for the existing bank relationships
- The results exceeded the Group’s expectations
- A precise audit of volumes and bank charges drawn up by the teams gave an accurate picture of the savings at stake
- In-depth knowledge of market conditions and the banks’ service capabilities
*SEP = société en participation – a company which is not registered and has no legal personality.