Oriflame Cosmetics & SEPA - · PDF fileThe Impact of SEPA From then to now 2014-10-16...
Transcript of Oriflame Cosmetics & SEPA - · PDF fileThe Impact of SEPA From then to now 2014-10-16...
~3.5m Oriflame Consultants
- Consumers
- Consultants & leaders
Oriflame
2 2014-10-16 Copyright ©2014 by Oriflame Cosmetics SA
Mission – ”To fulfil dreams”
Direct selling cosmetics company
Founded in Sweden in 1967
Listed on Nasdaq OMX Stockholm –
market cap ~€1b
Annual sales ~€1.4b
Wide portfolio of Swedish, nature-inspired,
innovative beauty products
SEPA Countries
• Estonia
• Finland
• Greece
• Latvia
• (Lithuania)
• Netherlands
• Portugal
• Slovakia
• Slovenia
• Spain
• 2016+ countries Impact of SEPA?
Oriflame’s Transformation Making sure growth comes back from a profitable base
2014-10-16 Copyright ©2014 by Oriflame Cosmetics SA 3
Shared Service Centers for Backoffice Functions
=> Higher quality at lower costs
Supply Chain Management
=> World class service and
lower inventories
Global Procurement
Process
=> Improved control and
better pricing
Treasury Services
=> Capital efficiency and
exposure management
Efficiencies and Synergies
The Impact of SEPA From then to now
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Shared Service Centers for Backoffice Functions
=> Higher quality at lower costs
Challenges faced
• IBANs
• Systems
• XML ISO20022
• Processes
Benefits obtained
• Pricing?
• Streamlining?
• Some optimisation of collection types
• Impact on consultants’ attitudes
Ongoing & future Challenges
• Banks
• Legacy payment types
Treasury Services
=> Capital efficiency and
exposure management
Challenges faced
• IBANs
• Systems
• XML ISO20022
• Processes
Benefits obtained
• Pricing?
• Streamlining?
Ongoing & future Challenges
• Banks
The Impact of SEPA In future
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Shared Service Centers for Backoffice Functions
=> Higher quality at lower costs
Supply Chain Management
=> World class service and
lower inventories
Global Procurement
Process
=> Improved control and
better pricing
Treasury Services
=> Capital efficiency and
exposure management
Efficiencies and Synergies
Better pricing; Payments & (some) collections on behalf of
Better liquidity,
Fewer banks
Core banks
Where is Oriflame
now?
• Fighting fires caused by
bank and others’
changes
• Adapting & preparing
for 2016
• Planning to get the
benefits
6 2014-10-16 Copyright ©2014 by Oriflame Cosmetics SA