Bred Banque Populaire licenses ALG Software's cost management system

Source: ALG Software

ALG Software has once again confirmed its leading position in Europe, with the beginning of a partnership with French bank, BRED Banque Populaire (BRED).

One of the largest regional banks in the French Banque Populaire Group, BRED has selected ALG Software's Enterprise Performance Optimisation (EPO) suite for calculating costs across all of its business activities and managing its budget proactively.

With over 300 branches, approximately 3000 employees and a highly diversified set of business activities, BRED realised that its existing system for analytical accounting and other office tools were limited in their ability to respond to the corporation's current and future needs.

Already using an activity-based management approach, management control at BRED advocated a number of fundamental changes in order to adjust to new demands. These include:

  • Total re-engineering of the analytical accounting system, lowering operating and capacity costs associated with re-allocating charges on markets and activities;
  • Sharing a single point of reference for managing the bank's budget to stimulate and steer operational management;
  • Integrating simulations that provide a global and predictive view of budgetary management.

BRED sought a solution that would provide the most detailed activity analysis and monthly forecasts, producing data which would make the organisation more proactive. Plus, better cost visibility and integration of operating and incidental costs, would allow commercial offers to be suited to their actual value, promote better control over profit margins and make it possible to track the breakdown of a cost precisely.

Catherine Rossi, BRED's Management Control Director, explains that whilst researching tools, BRED was impressed by ALG Software's proposals, the quality of the EPO solution and the strength of ALG's understanding of the bank's operations. "The consultants from ALG Software proved their expertise in relation to our needs and placed their solid professional experience at our service. This translates into ever-present quality support."

Management Controller, Philippe Chauvin, confirms that "There were two major reasons we chose ALG Software: Firstly, the ability to track costs and secondly, the ability to maintain the solution on the spot. We do not have to be database experts to be able to keep the system operating relatively easily by ourselves."

ALG Software's EPO solution enables BRED to improve its knowledge of what goes into the company’s costs and to measure its performance, providing global, reactive and predictive management for its organisation. Furthermore, the tool will benefit back office managers by helping them steer their activity. The system aligns every user's data and as the information is centralised on a network, it will enable each of the company's operational units to know their actual costs (both direct and indirect).

The return that BRED expects on the investment comes in the form of shared knowledge of costs and better dialogue within the company.

"Thanks to the capabilities of the simulations in the ALG Software solution, our management control will also gain the ability to measure financial and activity factors in real time. We will be able to formulate a proactive strategy in complete synergy," points out Rossi.

Comments: (0)