Client stories
How Univé streamlined its treasury operations with Cobase
Insurance cooperative Univé has successfully automated liquidity management, enhanced reporting, and significantly reduced manual workload through Cobase.
Challenges
Complex treasury management
Multiple entities, including subsidiaries and regional offices, with accounts across various banks.
Dependent on static Excel sheets and disjointed applications, which limited efficiency.
Lack of cash visibility
Limited real-time insight into group-wide balances
Difficulty in generating reliable liquidity forecasts and aligning working capital needs.
Inefficient processes
Time-intensive manual tasks prone to error.
Treasury staff burdened with repetitive work, limiting focus on strategic priorities.
Established in 1974 as a cooperative insurance company, Univé has remained dedicated to its 1.6 million members that they will be there for them for any type of damage incurred as well as in a general preventative and risk averse context. Operating without a profit motive, Univé focuses on its members’ well-being. The Univé organization consists of the Univé Group with locations in Zwolle and Assen, and 8 Regional Univé’s. Together we call this the Univé Formule. The Univé Group is managed by a central Treasury department in Zwolle.
The Univé Group, presented a challenge for its Treasury department in maintaining liquidity and optimizing working capital. Most entities held accounts with several banks, necessitating a tool to continuously monitor and control the various entities' balances. The Univé Group previously relied on static manual Excel sheets and complex applications, increasing the risk of errors and preventing the Treasury Manager from focusing on more critical tasks.
The Univé Group, presented a challenge for its Treasury department in maintaining liquidity and optimizing working capital. Most entities held accounts with several banks, necessitating a tool to continuously monitor and control the various entities' balances.
The Univé Group previously relied on static manual Excel sheets and complex applications, increasing the risk of errors and preventing the Treasury Manager from focusing on more critical tasks.
The implementation of the Cobase Treasury Management System greatly improved the Treasury Manager's ability to manage the challenges they had previously faced. The single tool now provides them with insight into the balances of various entities across all their banks.
I had complete faith in the solution and Cobase, and it paid off!
Treasury Manager
Univé Group
The solution has saved the Treasury Manager considerable time compared to the previous approach, while the ease of modification and professional support from Cobase experts have significantly reduced risks. The Univé Group has also achieved substantial cost savings and can now concentrate on more important tasks, thanks to the new system.
Key gains:
Liquidity forecasting: With Cobase's Treasury Management System, the Univé Group has a comprehensive view of their liquidity position, enabling informed decisions and accurate cash flow forecasting.
Risk reduction: Cobase's user-friendly and customizable platform has significantly reduced the risk of errors and the time spent on manual tasks.
User-friendliness and direct contact: Cobase's team has been a pleasure to work with, providing skilled and professional implementation and support. They appreciate the convenience of having a single point of contact for all their treasury needs.
Enhanced reporting: Cobase's ability to present Treasury reports and infographics in various ways and different timeframes has made it easy for the Univé Group to stay up-to-date with the latest developments and communicate their financial position to internal and external stakeholders.
The multibank Payment Hub offers the Univé Group a single entry platform to route the credit transfers to all their banks.
Results
Real-time liquidity management
Full visibility into all bank accounts across entities.
Reliable, data-driven liquidity forecasts to guide decisions.
Improved operational efficiency
Automation drastically cut down manual tasks.
Treasury staff freed up to focus on strategic activities.
Enhanced reporting capabilities
Dynamic reporting and infographic tools enabled clear communication with internal and external stakeholders.
Customizable views allowed faster and more effective financial analysis.
Cost savings and risk reduction
Considerable savings by reducing manual errors and duplicated effort.
Secure, centralized treasury operations with fewer compliance risks.
Interested?
Manage all your bank accounts centrally with Cobase
Simplify your cash management and save valuable time. One platform, complete control over all your financial flows.
