"Redbridge's tools, experience and involvement have given us a clearer overview of our cash management fees across four countries and have helped us generate new savings. "
Assignment Overview
- Scope: France, Switzerland, Luxembourg, Burkina Faso; 15 legal entities; 12 commercial banks surveyed
- Overhaul of cash management fees, excluding electronic payment flows
Objectives
- Benefit from new pricing standards on banking fees (including eliminating account activity fees)
- Benefit from more transparent invoicing and raise banks’ awareness of the need to produce dematerialized invoices
- Ensure that good relations are maintained between L’Occitane and its banking partners
Results
- Reduced cash management costs by one-third
- Permanently eliminated account activity fees
- Received commitment from banks to issue dematerialized invoices (varies according to the institution, camt.086/BSB or CSV)
Methodology
- Analyzed operations and pricing grid
- Prepared consultation materials and consultation launch
- Executed first phase of bank rating
- Executed second rating after reassessing individual improvement points bank by bank
- Validated and signed tariff agreements
Redbridge’s Added Value
- End-to-end management of consultation
- Thorough quantitative analysis
- Interface role with one bank that adopted a rigid pricing position