Payments should be simple. Fast, safe, and seamless. But behind every smooth transaction lies a world of data. For Bancontact Payconiq Company, the beating heart of Belgium's payment landscape, it was time to not just process data, but truly understand it. When their financial reporting struggled under the weight of growth, complexity, and compliance, they shifted gears. Together with Elem3nts, we built a new digital foundation: moving from scattered spreadsheets to a streamlined
Power BI platform that supports growth, insights, and compliance.
Making connections is in their DNA
Bancontact Payconiq Company is known everywhere in Belgium. Every day, through cards, QR codes, or apps, they connect millions of consumers and merchants. Their mission? To keep payments simple and local, without reliance on international giants like Visa or Mastercard.
Since their 2018 merger, the company has grown rapidly. Their recognition as an official payment institution by the National Bank of Belgium in 2023 brought not only prestige but also stricter reporting requirements. It was the perfect time to reinforce their financial foundations.
A fresh perspective on data
Back in 2017, Bancontact Payconiq took its first steps toward structured reporting with a Qlik Sense implementation: a logical choice at the time, as Power BI was still in its infancy and lacked the features required for more complex reporting.
Fast-forward to 2023: with a growing organisation, a new ERP system (Microsoft Business Central), and an in-house database developer on board, the time was right to make the switch. Power BI had matured, and the need for a more flexible, scalable, and user-friendly reporting environment had become undeniable.
Previously, reporting relied heavily on Excel export, manageable for basic overviews, but limiting for a fast-paced, data-driven environment. Manual work, fragmented data, and limited automation slowed everything down. What’s more is that many team members didn’t have a traditional finance background, making usability just as important as accuracy.
That’s where Elem3nts came in: with a sharp eye for numbers, a practical mindset, and a clear roadmap to turn Power BI into a real driver of insight.
Power BI as a turbo for reporting
Choosing Elem3nts was an easy decision. Their deep expertise in financial reporting and pragmatic approach made them the ideal partner. The solution? A fully integrated Power BI platform, directly connected to Bancontact Payconiq's Microsoft Business Central ERP system.
The implementation was rolled out in stages:
- Financial reporting: dashboards for P&L, balance sheets, and cash flow, including automated KPI calculations like EBITDA and gross margin.
- Volume and invoicing monitoring: linking operational volumes to financial data for faster and more accurate billing checks.
- Credit Collection dashboards: insights into outstanding payments and risks, essential in a sector where speed and certainty are critical.
- Sales dashboards: merchant, product, and volume overviews to enable more targeted marketing and sales actions.
What used to be manual and time-consuming is now available at the click of a button. Not just for the finance team, but also for management, offering real-time financial insights.
"Previously, we had to manually merge and analyse a lot of data. Thanks to Power BI, we now have one reliable source of truth. Elem3nts translated our needs into a solution – fast, flexible, and to the point.”
Charles Mahaut, CFO Bancontact Payconiq Company
Collaboration with a human touch
What made working with Elem3nts stand out? Their financial background and ability to keep things simple. Sylvio, the consultant on the project, spoke not only the language of Power BI but also that of finance. From day one, there was a clear connection. No endless meetings, just short, effective workshops where ideas quickly became actions – and dashboards.
New questions or adjustments? Minor changes are handled internally, while larger optimisations are quickly coordinated with Elem3nts. This keeps Bancontact Payconiq agile without compromising on quality.
Reporting with growth potential
The financial foundation is strong. But Bancontact Payconiq is looking ahead: further integration of CRM data, refining sales analytics, and creating feedback loops to marketing campaigns are all on the roadmap. Thanks to Power BI and the guidance of Elem3nts, their digital highways to new insights are already open.
With Power BI as the new backbone of their reporting and Elem3nts as their trusted co-pilot, Bancontact Payconiq now has a clear view of every financial movement. Data and insights flow as smoothly as their payments.
