OPALE is an online positioning and analysis tool that enables managers of small and medium-sized businesses to assess their company's financial situation. The tool has proved very useful for entrepreneurs faced with a drop in orders during the period of economic uncertainty linked to Covid-19.
Two management and decision-making support formulas
To improve the support offered to businesses, the Banque de France launched two new service offerings in 2017.
The institution provides them with an online company positioning and analysis tool (OPALE). Aimed at company directors with sales in excess of €750,000, OPALE Analyse is designed to help them identify their strengths and areas for improvement. Thanks to this analysis, managers can measure and compare their company's performance with their sector of activity. VSEs can test their eligibility by visiting the Banque de France website. Then, to take advantage of this product without having to enter their balance sheets, business owners simply need to connect to their personal space securely with France Connect.
Another Banque de France offering is OPALE Simulation. This tool has been created to help business owners in their decision-making process, and to enable them toassess the financial impact of their projects. Access to the tool is free for 3 months. Once they have worked out their development, investment or cash management hypotheses, managers can obtain 1 or 2-year forecasts, as well as a report constituting their business plan.
Correspondants TPE-PME extended
In parallel with the OPALE service, the Banque de France has set up the Correspondants TPE-PME scheme, designed to providesupport and guidance to the managers of very small businesses in each département. To carry out this mission, the institution has joined forces with various networks, such as consular chambers, financing organizations and associations, credit insurers and employers' federations.
A total of 102 correspondents are now available throughout France to rapidly diagnose the situation of companies, direct them to targeted contacts and answer their questions free of charge, whether they concern business growth, keeping abreast of legislative and legal developments, anticipating management and cash flow difficulties, or international development.
A survey carried out by GMV Conseil shortly after the tool's launch revealed that 89% of business leaders recommended the Correspondants TPE-PME scheme, and 95% were satisfied with the relationship between the Correspondants TPE and the business leaders they supported. In view of this success and the consequences of the health crisis, the Banque de France decided to extend the program to include ETIs and large companies.