Interview with Nicolas Quintin and Edouard Fichelle from Carter Cash

Carter Cash

Carter Cash specialises in car servicing and is part of the Mobivia group, which generates more than €3 billion in sales. Founded 22 years ago, Carter Cash generates around €400 million in sales and operates from 100 shops across France, Spain, Italy and Morocco. With almost 1,400 employees, the company stands out for its hard discount model, offering quality automotive products and services at very competitive prices. Based in Villeneuve d'Ascq, near Lille, Carter Cash is expanding rapidly, particularly in France and Spain.

What prompted you to look for a cash management and forecasting solution?

‘Our group, Mobivia, has challenged us in cash management, which has become THE priority in the face of recent economic challenges, notably the Covid-19 pandemic and the Russia-Ukraine conflict. Until now, actual cash flow was monitored using Kyriba and Anaplan, while forecasts were made using Excel. However, we quickly realised the limitations of Excel, which did not offer us as many functions and analyses as we would have liked. We therefore considered using a specific tool. Before adopting cash management software, we were only doing reporting, without any real analysis or management. The aim of adopting a tool of this kind is to ensure that we are able to manage our business with a level of reliability and finesse that will enable us to take action and improve our performance, both in terms of accounting and management control. Given the continuing growth of our business, we needed a solution that would enable us to be more proactive, to correct any discrepancies that arose and to respond to any other anomalies. It was against this backdrop that we looked for a solution better suited to our needs.’

Why did you choose Cashlab? 

‘When we met Cashlab, it was quick and easy. The tool is simple to use, with a smooth learning curve followed by good support. With its SaaS mode, Cashlab is an up-to-date tool that integrates perfectly into our environment. It is also directly connected to the bank statements, so we have a real-time flow of information. ’

What were your main objectives in adopting Cashlab? 

‘We had a number of objectives, including improving the reliability of our cash flow monitoring while involving the accounting department in the process in order to make them more accountable. It is essential for us to guarantee the reliability of the information reported to the Group and to secure our cash management, whether on a monthly or 12-month basis. We want to be able to have reliable forecasts, whether they are daily, weekly or monthly, so that we can adjust our plans according to any discrepancies observed. In addition, it's vital to develop our skills, and the support and exchanges with the Cashlab business team help us to achieve these objectives. ’

What features of Cashlab were decisive in your decision?

‘We were particularly impressed by the ease of use, combined with advanced features such as variance analysis, drill-down to accounting entries, and the ability to perform versioning with reforecasting.  During the demonstration, we also appreciated the possibility of having a view by entity and consolidated, while maintaining a simple and efficient approach.  Functionalities such as the management of mappings, management rules for disbursements and clearance proved easy to implement.  The announced 10-day implementation time was also a decisive factor, promising us a simple, uncomplicated project. It's also important for us to emphasize the quality of the support provided by the Cashlab business team. They understood our needs, adapted to our situation, met our deadlines and were extremely responsive. Cashlab isn't just a tool, it's also a complete support service."

What are the main benefits you've seen from using Cashlab? 

"We're still in the early stages of using certain functions, such as connecting to bank statements, but we can already see the tool's potential, and the initial results are encouraging. Cashlab is helping us to set targets for next year by comparing them with those of last year. We're relatively confident that we'll be able to optimize financial forecasts even further in the future." 

We are delighted to see that our solution is helping Carter Cash to achieve its cash management and forecasting objectives. We are delighted to count Carter Cash among the Cashlab users, especially as we share the same values.