Primula, a Swedish real estate company, dealt with several payment flows from multiple banks, resulting in inefficient and time-consuming manual processes. Thanks to their previous experience with Pagero E-banking, Primula knew that Pagero had the solution they needed.
Pagero interviewed Lena Blomberg, Accounting Manager at Primula, to find out what challenges they had in the past and how Pagero's e-banking solution has helped them become more efficient.
Why did you choose Pagero?
We wanted to change the way cash management for each company was handled. To avoid too many files to send back and forth, we ensured that almost all subsidiaries' rent payments and supplier payments went from Primula and were then handled via the settlement function in our ERP system Vitec. But this also meant that all manual payments we paid for the subsidiaries, whether loans or VAT and taxes, had to be made via Primula because they did not have their own accounts. Then it had to be manually booked at two companies. It took a lot of work.
The condition was that we could send everything in one file and receive one file.
Some of us have used Pagero E-banking before, so it didn't take much market research or thinking; we knew that Pagero had the solution we needed. It was that simple when we chose Pagero!
What is the difference between before you switched to Pagero and today?
Above all, we have reduced the amount of time spent on sending/receiving bank files with Pagero. Through a quick calculation, we have saved about 3-4 weeks of effective working time annually by handling our bank files with Pagero. This does not include the manual accounting orders and reconciliation work that Pagero's solution has also facilitated. A time that we can spend on more important things in our process.
Do you have any advice for other customers who want to automate their payment flow?
Do it. Every hour a company spends on a manual process has a price tag, and no system is more expensive than an employee.
Has Pagero helped you in the transition to ISO20022?
We have the support and get the updates and information we need. We have the situation under control.
What are the main benefits of the Pagero e-banking solution?
The most significant advantage of using Pagero is that we have saved a considerable amount of time that we previously had to spend on manual work. In addition, our solution today with Pagero is both simpler and more secure. We have reduced our error management by gathering everything in the same place and gaining a clear overview and improved traceability of our bank files," concludes Lena Blomberg.