Minimizing risk with real-time data
The company has been monitoring the creditworthiness of customers for many years. They did this up to five years ago by requesting separate credit reports. But that changed. Requesting individual reports was no longer suitable in the digital era, according to Julius Lurvink, director at Carel Lurvink B.V.
Carel Lurvink
125
years of experience
1993
national supplier since 1993
4
generations
Wat als ik geen data had en leverde aan de klant die nu failliet is? Het is niet in cijfers uit te drukken wat deze succesvolle samenwerking met Altares Dun & Bradstreet ons heeft opgeleverd."
1. The Challenge
Responding rapidly in the digital era
"The individual reports were inconvenient and could only be used once, because a credit score can be different a week later."
Since 1993, Carel Lurvink B.V. has been allowed to bear the title ‘By Royal Appointment Purveyor to the Court’. This title is reserved for family businesses that have existed for at least 100 years. With more than 12,500 m2 of warehouse space and more than 80 brands in its range, Carel Lurvink B.V. has for 125 years been a constant factor in the market for safety products, cleaning articles and painting supplies. With the fourth generation at the helm, the company continues to grow.
The company has been monitoring the creditworthiness of customers for many years. They did this up to five years ago by requesting separate credit reports. But that changed. Requesting individual reports was no longer suitable in the digital era, according to Julius Lurvink, director at Carel Lurvink B.V: “The individual reports were inconvenient and could only be used once, because a credit score can be different a week later. We supply customers on account and there is a lot of trust involved. So we want to know if a customer is financially sound. Not only today, but also tomorrow, the day after tomorrow and next week. Speed is essential in this process.”
2. The Solution
Real-time insight into the creditworthiness of customers in our ERP system
125
years of experience
1993
national supplier since
4
generations
Prospects and existing customers
“With new customers we always look at the bankruptcy and payment score. Together with a visit to the potential customer, this provides a total picture, and we ask ourselves if we want to work with this customer. An alarm sounds among the office staff if something changes in the scores of existing customers. Recently, for example, we suddenly saw the score of an existing customer deteriorate. We contacted him and it turned out that his accountant had not yet submitted the annual figures. He was very happy that we pointed out the score. In short: by entering into a dialogue we strengthen the customer relationship.”3. The result
Valuable collaboration
Wat als… “Met deze succesvolle samenwerking denk ik weleens ‘wat als ik geen data had en had geleverd aan de klant die nu failliet is?’. Het is niet in cijfers uit te drukken wat de samenwerking met Altares Dun & Bradstreet ons heeft opgeleverd, maar ik weet wel dat de rust die het ons brengt heel waardevol is. We weten dat we de juiste cijfers hebben en daarmee gedegen beslissingen kunnen nemen. Het vertrouwen dat we 5 jaar geleden aan Altares Dun & Bradstreet hebben gegeven is beloond met een waardevolle samenwerking waarin we dicht op de data zitten.”
What other customers say
"Data is the backbone of our business. In essence, we cannot function without reliable and up-to-date data."
“Before engaging with a company, we always conduct a thorough analysis and request various supporting documents for identification and verification.”
"In particular, we felt the purity of the data was very important; that was the priority."
'As a company with a global scope, it is important for us to have a stable solution available based on global, reliable data'
'Every new customer we want to check. It sleeps much better for everyone if you know that companies you are owed money from can actually pay it.'
"To make sure we are sourcing good, reliable dealers everywhere, we need the expertise of Altares Dun & Bradstreet.
'We can now act proactively when it comes to credit risk.'
"We had another business information provider, but in testing, we found that with their data, we were only covering 45 percent of our customers.
'Doing business based on current, complete and accurate data.'
'Only by automating can we make substantial gains.'
'Improved customer insight and optimal service'
'For Barco, it is important to support your strategy and your decisions with market data.'
