This interview will unfold across eight episodes, each focusing on a unique aspect of her journey and her insights into credit management, risk management, and business transformation. Join us for this first episode, where Scarlett reflects on the beginnings of her career and the path that led her to establish her own consulting firm.
In this episode, we delve into the remarkable story of Scarlett Favre-Verand, who transitioned her career as a credit manager into a thriving entrepreneurial adventure. With a strong foundation in accounting, law, and finance, Scarlett quickly climbed the ranks in prominent companies before launching her consulting firm.
Promising start at Moulinex
It all started at the age of 24, when Scarlett was appointed Accounting and Collections Manager at Moulinex, a large family-run enterprise. Despite her solid educational background, she was unfamiliar with credit management at the time. It was through exchanges with experts from companies like L’Oréal and Kodak that she began to understand the intricacies of the field.
She recalls: I knew nothing about credit management back then, so I quickly felt overwhelmed by the accounting and collection aspects.
Her curiosity and eagerness to learn from other major corporations drove her to develop her expertise and establish the credit manager role at Moulinex. Over five years, she thrived in this position, continually improving the company’s practices—not only in legal and financial terms but also by rallying the French and Export commercial teams to achieve DSO (Days Sales Outstanding) targets.
A New Chapter with Thorn EMI
After several years in Paris, Scarlett decided to return to her roots in Grenoble and joined Thorn EMI in Lyon. This role, vastly different from her previous one, allowed her to broaden her skill set. As Customer Manager, she managed over 100,000 client accounts, spanning individuals and businesses in both B2B and B2C sectors. Immersed in an Anglo-Saxon environment, she embraced a culture where cash flow was king, emphasizing rapid asset turnover and stringent customer credit management. This experience further honed her expertise in financial cycles, a domain where precision and foresight are critical.
The Birth of Efficash
It was during this period that the idea of starting her own consulting firm began to take shape. The opportunity arose when a headhunter approached her for a position in a leading mobile telecommunications company in Paris. Instead of accepting the role as an employee, Scarlett proposed a consulting engagement. This marked a pivotal moment in her career: In the final stages of discussions, I told them, ‘I’ll take on the challenge, but not Paris! Let me offer you a consulting mission instead.’ And that’s how it all began. They became our first client—a major player in the mobile telecommunications industry.
This first contract paved the way for the entrepreneurial journey of Efficash, a consulting firm specializing in credit management.
Scarlett quickly realized that collections were not merely about securing cash but also served as a key indicator of internal inefficiencies within organizations. She began developing specialized methodologies to better identify payment delays and address their root causes.
The Passion for Consulting and Sector Adaptability
Scarlett’s career stands out for her passion for innovation and her ability to adapt across various sectors. Whether in telecommunications, plastics manufacturing, or healthcare, she has skillfully tailored her strategies to align with the cultural and economic nuances of each industry. You need to be passionate and versatile, able to adapt to diverse environments and vastly different commercial policies,
she explains. This natural transition from credit manager to consulting expert was driven by her relentless desire to go further, learn, and innovate.
Conclusion
This episode shines a spotlight on an inspiring journey—a woman who turned every stage of her career into an opportunity for growth. From her early days at Moulinex to founding Efficash, Scarlett demonstrates that with passion, curiosity, and determination, it is possible to build a robust entrepreneurial venture.
Stay tuned! This series will continue in the coming weeks, where Scarlett Favre-Verand will discuss major developments in credit management in France, the current challenges in the field, and the impact of new technologies on the sector.