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Burger King
LVMH

LVMH

Management of legal entities and bank accounts within LVMH

SPECIFIC NEEDS DUE TO THE MULTIPLICITY OF BRANDS AND STRUCTURES

The company must have a single, organized banking authority capable of overseeing all gains and losses, from the global level to the level of each store. There must therefore be a single reference authority for all banking functions, including responsibility for signing loans, purchases and debts; a hierarchy of powers from the Board of Directors to the operational level; a clear and precise understanding of the various Houses that groups together the company with a supervision of internal factors, audits and reference best practices.

By its very nature, LVMH must be able to rely on a centralized view of authorizations for all its banking needs.

Since the tax rules are not the same from one country to another, it is vital that all documents and letters can be prepared and automatically generated by each employee of the Treasury team. This requires the implementation of a streamlined BAM (Bank Account Management) systewm for all processes and exchanges within the group. Internal reporting must include all necessary resolutions and files, while external reporting must cover all correspondence with the various parties and shareholders, all of which are automatically generated and sent by the BAM function – in preparation for the eBAM platform .

VISUAL SIGN, THE NEW SOLUTION SELECTED BY LVMH TO MEET ITS DIFFERENT NEEDS

The company now has a centralized electronic access covering all the concerned entities and meeting all its banking needs, including their legal and HR
dimensions.

Some administrative procedures remain necessary, but they are fully supported by the system that manages relations with the concerned banks and institutions, generating the corresponding documents in Windows and Adobe PDF formats. These procedures deal in particular with contracts, confirmation of new banking sectors, opening and closing of accounts on demand.

The BAM process is implemented on both the internal banking system and within the banks with which LVMH currently carries out daily banking in different countries.

The results

The current rate of deployment in the different Houses is well suited, and all levels of governance are satisfied with the transparency, development, implementation and structure of the BAM system. The ease of use of the interface is particularly highlighted and certainly contributes to the excellent rate of adoption of the solution by the users.

LVMH is continuing its deployment by implementing a specific architecture that meets the needs of its brands. eBAM functionalities are at the heart of these new deployments. The management of the bank accounts of eBam was clearly a good choice for LVMH. It meets the needs of the company which wanted to streamline the processes of its Treasury Department to prepare for the future.

Pernod Ricard
Tereos

Tereos

Streamlining and standardizing the management of informations concerning subsidiaries and shareholdings of Tereos

CENTRALIZING THE FOLLOW-UP OF INFORMATIONS RELATED TO GROUP ENTITIES

Until 2010, information concerning the subsidiaries and affiliates of the TEREOS group was managed from MS Word files. This system was designed to respond to specific requests for information, notably at the time of the end of the financial year. In order to streamline and standardize the management of these informations and to better meet the regulatory requirements imposed by the Autorité des Marchés Financiers (French financial markets regulator) following the issuance of bonds, the TEREOS Group’s Legal Department decided to acquire a solution to monitor participations. The aim is to provide reliable, detailed and standardized reports at quarterly intervals to all financial departments.

After tender and selection of three publishers, DiliTrust Governance was retained for its adaptability and ease of handling. The tool has already been chosen by the majority of the listed French groups, which constitutes an additional guarantee of the expertise proposed by the publisher.

A PROJECT STRUCTURED AROUND THE GROUP’S SPECIFICATIONS

In September 2010, Yann JORGE, Corporate Lawyer within the Group, assumed responsibility for its implementation. DiliTrust Governance allows the consolidation of the necessary reports to the consolidators as part of their accounting operations at the end of the quarter.

Based on the plan developed at the start of the project in close collaboration with the EQUITY consultants, Yann JORGE participated in the implementation of the tool. He then saw the flexibility of the application. The recovery of data is a particularly sensitive step for the smooth running of the project. After an inventory of the volumes and the architecture of the existing data, DiliTrust has made available structured MS Excel templates to integrate them. Once the database cleanup step has been completed (formatting, merging / bursting), the data was directly injected into the application.

FLUID INFORMATION CIRCUIT AND OPENED TO ALL DIRECTING FUNCTIONS

The Group Legal Department is involved in all Corporate transactions impacting the Group’s structure and organization. We need to collect data on transactions carried out within the Group and its subsidiaries in order to restore them and share the corresponding information with the TEREOS Group management team.

“With just a few clicks, DiliTrust Governance can generate a broad, easily configurable reporting spectrum, offering content tailored to each type of audience. The tool provides a coherent and shared source of information that fosters synergy between departments.” Explains the Group’s Corporate Law lawyer.

The consultation of the data contained in DiliTrust Governance is open to the Directors for Consolidation, Financing Department as well as to the General Management, which allows the management team to directly select the information it needs.

Sogefi
Bouygues Immobilier
Koc
Sanofi