Case study

How Lyreco Optimized the Management of All Its Payments with myDiapason?

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"The implementation of payments in Diapason was successfully carried out within a very short timeframe imposed by our Service Bureau provider."

Estelle Bonnemaison,

Treasurer of the Lyreco Group

About the Lyreco Group

A leading player in the distribution of products and services for the workplace.

employees

countries with cash flow and a network of over 50 banks

domestic payments and 20,000 “on behalf of” payments per year

The context of the project with Lyreco

The group aimed to integrate a single treasury management solution into their Information System with the following main objectives.

a centralized management of payments
an overall view of the cash flows of the group’s entities
a standardization of banking formats
a centralization of communication flows with banks
a secure process for payment validation and traceability
an extension of corporate cash pooling to all subsidiaries
a control over the group’s foreign exchange hedging policy
a mastery of the various investment and financing needs
productivity gains for the teams

The software used by Lyreco had functional limitations that complicated the end-to-end management of financial flows. Additionally, the treasury information system needed to evolve due to changes in the service bureau provider’s offering. Therefore, the project presented an opportunity to rethink its treasury management process to address the group’s growth challenges.

The solution provided by myDiapason

Lyreco selected the TMS (Treasury Management System) myDiapason to implement numerous actions such as:

third-party transfers and cash transfers for the outgoing direction
account statements and bank statements for the incoming direction
mass and individual payments on FIN and Flieact protocols
the configuration of validation workflows based on the nature of the flows, with up to 3 levels of validation for centralized “interco” flows.
the “payments on behalf of” (or POBO: Payment On Behalf Of) processed from an XMLV2 format flow originating from the group’s ERP
a business dashboard for an overall view of processed flows, organized by status
an alert process for unissued messages as a cut-off approaches
the sending of email notifications in case of identified acknowledgment issues via PSR (Payment Status Report) messages

The entire Lyreco team was involved in the project, including a business project manager and an IT project manager. The weekly project monitoring shifted to a daily frequency during the testing phases.

The MOTP (Mobile One Time Password) protocol was implemented to secure the electronic signature process:

a strong, simple, and immediate authentication in Diapason
a dedicated application to install on each signer’s smartphone
a one-time password provided by the application for each transaction

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"This project is part of a plan to renew and centralize the cash management tools and to oversee the foreign exchange hedging policy."

Estelle Bonnemaison,

Treasurer of the Lyreco Group

The results for Lyreco

The myDiapason solution has enabled Lyreco to optimize the management of its payments and its entire treasury within the deadlines set by the specifications. The project has generated numerous successes such as:

Enhanced traceability and security of payments. All flows are tracked and secured through multiple validations.
Centralization of flows. The various file formats of the group are integrated and centralized within the tool. The same applies to SWIFT returns and bank PSR, with an alert system in place to ensure tracking.
A comprehensive overview of payments. The daily operations of the teams are streamlined, and productivity is enhanced through an ergonomic and unified tool for all subsidiaries.

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