Find out how Grupo Veneza, by implementing automation technologies with Dattos, optimized processes in the Shared Services Center!
CSC processes automated by Dattos
- Reconciliation of accounts payable and receivable
- Cash flow (Treasury)
- Other bank transactions
- Automatic integration of bank statements
About the Venice Group
O Venice Group is a retail company with more than 1,300 employees spread across 11 states in Brazil. The organization operates as a dealer in machinery and equipment for the paving, agricultural, truck, bus and light vehicle sectors.
The company, which started out as a family business, has grown strongly in recent years, and today has its Shared Services Center (SSC) structure certified by the Great Place To Work (GPTW) institution, acting in an increasingly professional manner and with total data security.
Grupo Veneza's CSC began to be structured in 2019, through the unification of two existing administrative structures in Recife and Natal, as a result of the shareholders' needs achieve greater synergy and reduce expenses. Since then, the area has 100 employees, and is responsible for the administration of operation of 59 CNPJs, between headquarters and subsidiaries.
Second Marcello Rocha, Director of the Venice Group's CSC, practically half of this workforce works exclusively in transactional activities related to finance, such as: accounts payable, accounts receivable, credit analysis, collection, cash flow, accounting, tax, legal, IT and indirect purchasing.
Objective
The client's objective when looking for Dattos was to automate, organize and professionalize the financial process of the Venice Group companies through the efficient management of its CSC. After all, at the beginning of the operation, we still saw many processes being carried out on paper, e-mail and spreadsheets, without clear procedures, standardization or information quality criteria.
With the accelerated growth of companies, the financial reconciliation process has become a major challenge, due to the large volume of manual work, as well as rework and discrepancies in reconciliations.
"We needed governance and quality records, visibility to ensure that everything that happened in the accounts was correct and reflected in the company's accounts. But the reality was that, even with all the efforts and manual spreadsheets in this process, we always had a significant volume of pending items, reconciliations and rework," explains Marcello.
With this need in mind, the Venice Group started looking for tools and ways to support them. The first step was to implement a a major transformation in the team's mentality and culture, so that they could better understand the importance of delivering correct data on time.
In parallel with the cultural change, the company also resorted to technological tools that could support the different routines of the CSC, and that's where they found Dattos. Marcello believes that technology is fundamental, and that finance departments that don't update themselves in this regard will be left behind.
"Our motto has become: investing in technology and optimizing routines to scale intelligently, with automated processes and integrated transactions," he emphasizes.
Challenges
The finance teams had more than 2,600 hours of overtime at the bank due to the high demand for manual activities to be carried out under tight deadlines
A lot of manual effort, spreadsheets, energy, and even then, 100% the quality and governance needed in the process was still not achieved
More than 400,000 lines to be processed manually per month in the administration of 148 accounting accounts associated with 58 CNPJs
Solution
Before Dattos, the operation via Excel was the path chosen by the Venice Group to regularize the conciliations. However, only with spreadsheets it was not possible to achieve the expected result because the The volume of transactions was very high.
Our technology is optimized so that it doesn't require the support of an IT structure or programming expertise, implementation was much easier, and this was a decisive factor in Venice's choice of Dattos.
Thus, with the automated reconciliation and governance brought by the Dattos platform, the Venice Group's CSC team has reduced its daily reconciliations to 48 hours, applying the Continuous Accounting strategy in practice.
"Every day, we close the previous period for all the companies. In other words, many people are involved every day in an operation that needs to be standardized and systematized. With Dattos, we've seen a huge gain in productivity and are able to deliver financial data to accounting every two days. We have much more consistency, accuracy, data quality, as well as a leaner, more qualified team," says Marcello.
Today, of the total of 408,045 statement and ERP lines, 336,734 are automatically reconciled with Dattos, corresponding to a percentage of 80% of the CSC's entire financial operation.
The next steps in the evolution of the Venice Group's CSC are to continue with this strong vision of digitalization and look for new solutions that can make the CSC journey simpler and more scalable with the technology available.
Results
Automated reconciliation of 80% extract lines and ERP
More than 140 accounts reconciled automatically
