16 Nov IFA receives the award for excellence in the implementation of its cash management solution
The IFA Group has received one of the awards Kyriba gives during its annual event in recognition of the excellence in the implementation of its cash automation solutions
Data from the IFA Group’s cash management system:
- 4 million invoices managed
- Payments of 6.936 billion euros
- 100% online platform
- Single interface for the management of settlements, debits, credits, and also for the resolution of incidents
IFA Group, a turnover tripled and consolidated in 10 years
Well-deserved recognition for a company that in the past 10 years has tripled its consolidated turnover with a compound annual growth rate of almost 5%, reaching more than 33 billion euros. The group has more than 11,000 establishments and employs almost 140,000 professionals in Spain, Portugal and Italy.
In 2020, the IFA Group presented its 2025 strategic plan designed around several vectors: improved competitiveness; the implementation of an international programme as a collaborative tool; the strengthening of partnerships with manufacturers; the enhancement of its own brand; the implementation of administrative processes based on flexibility and efficiency.
Source: Annual report 2021 ifa retail sa
Reduced transaction costs through a Centralised Payment System
The results resulting from the last of these vectors are what have made the IFA Group worthy of Kyriba’s recognition. Through a Centralised Payment System, IFA has reduced transaction costs for associates and suppliers. Kyriba’s tool has facilitated the centralisation of invoice receipt, validation and settlement processes by guaranteeing a single payment to the supplier for all partner purchases, giving them visibility over payment deadlines and facilitating better management of working capital.
For all these reasons, All CMS congratulates the IFA Group and thanks it for the trust placed in us during the implementation of its Centralised Payment System.
Our solutions allow you to improve your financial management with the following services:
- Cash Management Solutions
- Payment Hub
- Cash Accounting
- Risk management and financial transactions
- Bank Connectivity
- Business Intelligence
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