Gerard Darel is a family-owned company selling mid-range to high-end ready-to-wear women's apparel, founded in 1971 by Gerard and his wife Daniele. The brand focuses on classically-styled timeless garments and accessories with a subtle charm and Parisian elegance.
In 2008, the family sold part of its share capital to an American investment fund to fuel its international development. The Group which is already operating in France, Italy, Spain, United Kingdom, Ireland and Belgium, will soon have a retail presence in Switzerland and New York.
> Yearly consolidation was outsourced to an accounting firm and accounting was performed on spreadsheets.
> This eventually became inadequate when numerous changes had to be made to the consolidation scope (46 entities including 5 overseas as at December 31, 2009) and when quarterly consolidations were required in compliance with banking covenants.
> Integrate consolidation within the Gerard Darel Finance division.
> Save time on the consolidation cycle and on ensuring data reliability.
> Enhance reliability of the data
> Simplify different audits.
The Viareport hosted solution was our natural choice.
We are totally satisfied with the organizational flexibility of the SaaS-based solution combined with powerful extraction tools like the Excel macro.
Viareport was able to provide a customized solution by specifically developing a consolidated cash flow statement using EBITDA and by providing high quality responsive human support in implementing the tool as well as in training and operations.
We were reassured by data reliability and security and CAC controls were simplified thanks to the audit trail.
This solution was operational very quickly and enabled us to gain time in consolidation processes while ensuring data reliability. This allowed us to focus on the financial analysis and steering of our Group..