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From manual to autopilot: how Autonom drives smarter finance with FinqTreasury

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Contents

1. About
2. The Challenge
3. The Solution: FinqTreasury
4. Implementation
5. Results
6. Why Autonom loves FinqTreasury

1. About Autonom

Autonom is a Romanian entrepreneurial company founded in 2006 in Piatra Neamt, which has developed into one of the top 5 mobility networks in Romania for car rentals and operating leases.

It stands out through its unique national network with presence in 30 cities across Romania as well as Hungary, operating a fleet of over 16500 cars. The company provides modern mobility and financing solutions such as short and medium term lease, operating lease, used cars sales, chauffeur drive, road assistance, equipment lease. It is permanently diversifying its services portfolio, growing its geographical reach as well as setting high sustainability goals.

Car rental and sales industry context

High Capital Investment and Inventory Costs:

Car rental and sales companies must invest enormous amounts of capital to purchase and hold a fleet for sale or lease. This cash is tied up in inventory that is sitting on the lot. Most dealerships use credit lines to finance their inventory. Rising interest rates directly increase the daily cost of holding each vehicle, squeezing cash flow and profitability.

Delayed and Inconsistent Revenue Streams:

There is often a critical delay between a customer agreeing to a purchase and the funds being cleared and verified in the company’s bank account. This stalls the delivery process and delays cash inflow.
When a sale is financed, there’s a lag while the lender processes the paperwork and transfers the funds to the dealership. Any documentation errors can extend this delay, creating a cash flow gap.
Unlike subscription businesses with predictable monthly revenue, car sales can be highly seasonal and dependent on economic conditions, leading to unpredictable “lumpy” cash inflows that are difficult to forecast.
For international operators like Autonom, managing collections in multiple currencies adds another layer of complexity and risk due to exchange rate fluctuations.

2. The Challenge

Manual processes slowing collections, payments and reconciliations

Before partnering with Finqware, Autonom’s financial operations were hampered by data fragmentation and manual processes. As the company scaled, these challenges became increasingly acute:

Fragmented Cash View
Consolidating the group’s cash position was a slow, manual process that required logging into multiple banking portals. This prevented the treasury team from having a real-time, accurate overview for strategic decision-making.
Inefficient Verification Processes
The car sales team spent hours manually cross-referencing bank statements to confirm customer payments before releasing vehicles, delaying the sales cycle and impacting customer experience.
Labor-intensive Payment Workflows
Managing payments involved manually uploading files from the ERP to various banking applications and then manually sending payment confirmations to suppliers, creating operational bottlenecks.
Delayed Financial Reconciliation
The accounting team had to manually download and import bank statements for reconciliation, a repetitive and error-prone task that delayed the monthly financial close.

3. The Solution: FinqTreasury

Aggregated multi-bank data for automated real time operations

Autonom implemented FinqTreasury, Finqware’s open banking platform for corporate finance and treasury. The solution provided a single, secure point of access to all of Autonom’s bank accounts, creating a unified data layer to streamline operations across the organization.

Treasury
Treasury
Gained a real-time, consolidated dashboard of group-wide cash positions and automated tracking of collections in multiple foreign currencies.
Car Sales
Car Sales
Received instant, on-demand access to transaction data to verify customer payments in seconds, allowing for immediate clearance of vehicle deliveries.
Finance Operations
Finance Operations
Automated the entire payment process, from uploading payment runs from the ERP to initiating payments and sending confirmations to suppliers. The platform also automated the payment of recurring items like fines for leased cars.
Accounting
Accounting
Enabled the automatic import of standardized bank statements directly into the company’s accounting system, eliminating manual downloads and data entry.
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4. Implementation

Online dashboard for real time treasury and API integrations for automation

Autonom implemented Finqware’s FinqTreasury platform to aggregate multi-bank data into a single interface, providing a unified data flow to key processes and systems:

Online dashboard for treasury team and car sales, to allow real time cash position and bank collections verifications
ERP: API integration to export payment orders for suppliers or leased car fines and automatically import them in FinqTreasury to be authorised with the corresponding banks
Accounting: API integration to import bank statement from Finqware aggregated database into the accounting system and allocate them by ledgers
CRM: API integration to automate customer invoices reconciliation and clearance of car sales

5. Results

Control, efficiency and happier customers

The implementation of FinqTreasury delivered significant, measurable improvements across Autonom’s financial departments:

100% Real-time Cash Visibility
100% Real-time Cash Visibility
The finance team gained complete, up-to-the-minute insight into cash balances, enabling more effective liquidity management and strategic planning.
90% Faster Payment Verification
90% Faster Payment Verification
The car sales department reduced the time to verify a customer payment from hours to minutes, significantly accelerating the sales and delivery cycle.
Reduction in Manual Work
Reduction in Manual Work
Automation of repetitive tasks freed up finance and accounting teams to focus on strategic analysis and value-added activities.
Faster Financial Close
Faster Financial Close
Automating bank statement imports and reconciliation cut the time required for the month-end closing process in half.
Enhanced Financial Control
Enhanced Financial Control
Centralizing data and automating workflows minimized the risk of human error and provided a clear audit trail for all financial activities.

6. Why Autonom loves FinqTreasury

“FinqTreasury has transformed our financial operations, also contributing to our sustainability goals through digitalisation and the elimination of manual processes.

What used to take hours of manual work is now done in minutes. The real-time visibility and automation have given us a level of control and efficiency that is critical for managing a dynamic and growing business like Autonom.“

Ramona Patrascu - Purchasing and Payments Coordinator, Autonom

Conclusion

By choosing FinqTreasury, Autonom achieved 100% real-time cash visibility, reduction in manual work, a faster sales cycle, and a faster financial close, empowering strategic decision-making and enhancing operational efficiency.

Download the case study in PDF format

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    CLIENT

    Autonom

    SERVICES

    Mobility provider: car rental and operating lease

    OFFERING

    Smart, sustainable mobility solutions across Romania and the region, with a strong focus on innovation, customer experience, and ESG-driven digitization

    FINQWARE SERVICES

    API-First Treasury Integration

    Real-Time Bank Data Aggregation

    Multi-Bank Connectivity

    ERP Integration

    CRM Integration

    Accounting Integration

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    Modern treasury teams automate financial operations and unlock real-time cash visibility with FinqTreasury. Do you also want to reduce errors, boost speed, and scale without extra headcount? Get started now!

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