Bolloré is a transport, logistics, energy distribution and communication group that employs more than 80,000 people worldwide and achieved a turnover of 18.3 billion euros in 2017.
Since 2014, all European companies conducting OTC transactions have to adapt their tools, processes and data to comply with the new EMIR regulations. Bolloré group was looking for a solution to automatically manage the exchange of data between its financial information system and the DTCC central repository.
Thanks to the NEOFI software, the Bolloré Group's treasury collects the EMIR data issued by the treasury software, checks them, corrects them and then structures the file in the format expected by the central repository and sends it to it daily, in a secure manner.
As the NEOFI Solutions team had already anticipated the evolution of the new EMIR standards by creating conversion and processing processes, its adaptation to the needs of the Bolloré group was a mere formality: the project was successfully completed in a week.
With the insights gained on NEOFI softwares during the EMIR project, the treasury department took advantage of the NEOFI solution's capabilities by reprocessing and automating the accounting entries between the accounting software installed in the IT infrastructure of the company, and hosted cash application in SaaS mode. All that was needed was to set up automatic and secure exchange processes in NEOFI.