Sofival selects Mona InterWeb to match intercos

Tuesday February 11th, 2014

Paris, February 11th, 2014 – Sofival has implemented Mona InterWeb, a software solution from Sigma Conso that automates the reconciliation of intra-group operations at the transaction level.

 

The solution will enable Sofival to take advantage of intra-group reconciliation results to correct the accounts of its entities and obtain the most reliable financial information possible.

The solution was deployed and tested in a few days last November. Over 90% of the group’s intercompany accounts were reconciled automatically during the first test phase.

Christophe Bozon, Sofival’s Administrative Director explains: “We initiated an extensive external growth operation during the last quarter of 2013. It led us to implement processes to facilitate the integration of new entities and provide the teams with a standard, simple and effective procedure. The optimisation of interco reconciliation was part of the project.
Mona InterWeb enables us to provide the accounting teams reporting to the holding with a collaborative and intuitive platform able to handle very large interco volumes.
From my standpoint, I particularly appreciate the quality of service provided by the Sigma Conso teams. At this time, which is crucial to the growth of our group, it’s essential that the financial teams have the backing of a reliable partner. The support is effective, questions are handled quickly and a long-term solution is provided in short order every time.”

Dominique Galloy, Managing Director of Sigma Conso, adds: “We’re very proud of the trust Sofival has shown us. The holding has ambitious projects and the infrastructure currently implemented by the Financial Department will enable it to easily integrate future acquisitions without expending excessive time or resources.”

About Sofival:

Société financière de Val d’Isère, SOFIVAL, is a financial holding company which is currently experiencing significant growth. It has an ambitious external growth policy which consists in taking majority holdings in groups with a range of business activities in different sectors. The holding company has historically been present in ski resorts and is now diversifying into hotels, vehicle wash equipment operations and other areas.