How Panax enabled Optimove to connect 40+ bank accounts in less than 1 month

About Optimove

Optimove is a customer led- marketing platform that helps brands use data to drive personalized, customer-centric marketing campaigns. By combining customer data, analytics, and automation, Optimove enables businesses to create targeted, personalized communications across multiple channels like email, SMS, and social media. The platform is known for its predictive modeling capabilities, which help brands understand customer behavior patterns, segment audiences, and optimize marketing efforts to improve customer retention, engagement, and lifetime value.

After massive company growth in the past two years, Optimove had challenges around global cash management. These included:

• Managing distributed cash flow within multiple banks and currencies. 
• They had excess cash, and wanted to optimize liquidity.
• Optimove had cash in both banks and payment wallets. They needed full visibility into this data as well, so that it would be included in their full cash position. 

Optimove & Panax (After only one month)

• Easy and smooth onboarding process: Over 40 accounts connected in the first 3 weeks of onboarding. 
• No expensive and drawn out onboarding process and no IT implementation needed. 
• Full visibility into the cash situation via alerts and reports means the team can be proactive.

The Challenge

Over the past two years, Optimove has experienced substantial growth, expanding its platform’s capabilities . This momentum includes strategic investments, such as the acquisition of Kumulos and Graphyte, which added mobile marketing and AI personalization tools, enhancing Optimove’s ability to deliver personalized, cross-channel customer experiences. Managing cash flow manually, across multiple accounts and currencies in Excel was a challenge for the lean, distributed finance team. 

As well as over 40 bank accounts, Optimove also uses payment wallets. They struggled to have visibility into this data as well, so that it would be included in their full cash position. 

As a B2C hyper-growth company, Optimove was dealing with a lot of cash. It needed to not only be able to see where its cash was, but also to optimize it for continued growth. Optimizing liquidity after acquisitions was particularly important for financial growth. 

In addition to optimizing liquidity, Optimove wanted to centralize all the banking data into a one insightful cash flow report, to be their source of truth, and understand trends and anomalies of their cash flows.

The team wanted a solution that could be implemented quickly, because they didn’t have the time available for a lengthy implementation process, or the resources available for running a complex solution. 

The Solution

Optimove’s Panax account, with over 7 banks and 40 accounts was set up and running in less than a month. The Optimove team configured 2 banks themselves within the system, and all other accounts were set up by the Panax onboarding team. 

Because the accounts were set up and configured so quickly, the Optimove finance team had access to all their cash flow data in one platform, and could immediately begin to optimize liquidity. Connecting the ERP system of Optimove, enabled the team to quickly generate an insightful cash flow reports, with Panax auto-categorizing all of their banking data

The quick configuration time, responsive support and the automation built into Panax helped the Optimove Finance team to work more efficiently, and to get full visibility over their global cash flow.

The Results

The quick onboarding time gave Optimove immediate value:

• The Optimove team were impressed with how quickly they were onboarded to Panax, w/o investing IT or the finance team’s resources, and how simple the platform is to use.

‍Full visibility into global cash management gives the ability to make informed decisions and streamline cash management processes effectively. The team now is able to fine-tune the cash resources in each region, resulting in increased efficiency, better financial control and optimized liquidity.