Data as the foundation of customized service
A thorough credit check not only helps suppliers who want to be sure their customers can pay. A good check also helps the paying party, who therefore does not enter into a deal that he cannot handle financially. Van Mossel's leasing companies therefore use data from Altares Dun & Bradstreet to help new and existing customers as much as possible.
Van Mossel
5000
Employees
324
Locations
100.000
Lease agreements
We chose Altares Dun & Bradstreet for several reasons, says Ravenhorst. First of all, with an eye to the future. We are in the Netherlands, Belgium, Luxembourg and Germany. Our data partner therefore needed to have international data. It is conceivable that we will enter even more markets in the future."
Marco Ravenhorst
Finance Director at International Car Lease Holding
1. The Challenge
Automating credit checks
Van Mossel began as a small car dealer, but grew into what it is today, particularly after its acquisition by Eric Berkhof and later its partnership with Ben Mandemakers. Together they bought companies and allowed them to grow autonomously, making Van Mossel the largest automotive group in the Benelux since the beginning of 2021. With the labels Van Mossel Autolease, Directlease and J&T Autolease they are well represented in the leasing market.
Marco Ravenhorst is financial director of these leasing companies in the Netherlands. He says Van Mossel's spectacular growth, in recent years, would never have been possible without a solid data foundation. "For the credit check of companies, we were looking for a way to automate that process. Centric previously provided us with a tool that does that for individuals, based on BKR registration. We are now using that software for business checks as well. That tool, which automates a credit check and approval for companies as well as possible, needs reliable company data to work quickly and accurately. Altares Dun & Bradstreet is an expert at that. Van Mossel partnered with them for several reasons.
2. The Solution
Data as the foundation
"We chose Altares Dun & Bradstreet for several reasons," says Ravenhorst. "First of all with an eye to the future. We are in the Netherlands, Belgium, but also in Luxembourg and Germany." Therefore, the partner needed to have international data, and Altares Dun & Bradstreet operates worldwide. "And it is also conceivable that we will enter even more".
163
Maintenance locations
35
Car Brands
33
Car body repair shops
Price was also a consideration, says the CFO. "Margins are always under pressure in our market, we're used to that. So you always pay attention to price." But "compliance" also remains an important consideration. "With Altares Dun & Bradstreet's data cloud, we can also see who is behind an organization. We don't want to do business with companies and individuals on sanctions lists. We now have that insight very quickly." To continue to grow, Van Mossel taps into various sources of funding. These funders can be confident that we are not doing business with undesirable parties.
3. The result
International growth
Customers who knock on Van Mossel's door do not always have the data and payment history needed to properly perform the credit check. A new party sometimes cannot provide financial data, simply because the company has not been in existence for long. Ravenhorst: "But every company has at least a Chamber of Commerce number. So we can always see how old a company is and who is behind it. With the unique D-U-N-S number we can see all the information available about the company. "
Automating the credit check on as many lease applications as possible saves time that we can then spend on quality customization required on some applications. "The software automatically goes down a checklist of about 25 points," Ravenhorst says. "If those all add up, we give the green light for an application. If one or two don't pass the check, we start looking at those, and if necessary, we engage with a customer. Because we want to make sure we're helping all customers the best we can."
Other solutions
So what happens if the automatic credit check reveals a doubt? A lease agreement is always for a fixed period of time, usually four or five years. That term is fixed, but Van Mossel can, for example, ask for a down payment to limit risks. Ravenhorst: "But it can also be so simple that we suggest the customer consider a used or another car. This lowers the risk for us, making the contract possible for the customer."
Generally, Van Mossel wants to get and stay in conversation with new and existing customers. On the one hand for a good customer relationship, and on the other, because the economy sometimes demands it. "We also read the newspapers," says Ravenhorst. "If we see that a customer is in a turbulent market, we want to hear how the customer is dealing with it. Not because we lack confidence, although of course we want to be assured that they can pay us, but because we always want to be able to offer an appropriate solution. And we want to do that as quickly and reliably as possible. Even when we discuss this ourselves, Altares Dun & Bradstreet data is the starting point."
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.'
