ElectronicPartner builds on the rich data resources of Altares
With more than 350 entrepreneurs, 100 suppliers and 75 formula stores in neighboring Netherlands alone, it is important for ElectronicPartner, one of the largest purchasing organizations in the Electronic Retail Business industry in Europe, to maintain an overview of the creditworthiness of their relationships. Altares Dun & Bradstreet's up-to-date reports provide insight into the financial health of their entrepreneurs and suppliers, enabling them to identify all credit risks in a dynamic manner and according to real-time data.
ElectronicPartner
350+
Affiliated entrepreneurs
100+
Suppliers
75+
EP formula stores in NL
Our industry often involves expensive products. As a purchasing organization, we then also bundle our purchasing streams. You can therefore imagine how important correct credit management is. We have a regular family of customers, but we don't actually call them that. To us, they are really members. To strengthen that close relationship, accurate credit management is crucial."
1. The Challenge
Flying start
ElectronicPartner initially knocked on Altares Dun & Bradstreet's door because they were looking for a solution for onboarding new customers. Altares Dun & Bradstreet's versatile reports offered the best outcome with the highest data quality and reliability. With that information, ElectronicPartner was able to make informed decisions quickly.
Since then, the partnership has only grown. Separate reports quickly became report management with extensive monitor functionality. D&B Finance Analytics makes it possible to map an extensive portfolio, with ElectronicPartner receiving personalized daily updates. The advantage license allows the European purchasing organization to zoom in extensively on the payment behavior and financial data of their business relations, linked to their own financial input. In doing so, they not only improve their risk management, but more importantly, they are betting on a sustainable long-term collaboration with their stakeholders: business owners and suppliers.
2 The solution
Customized monitoring
Through numerous additional functions, ElectronicPartner maintains a dynamic and real-time overview. Well-coordinated cooperation is crucial here.
For example, ElectronicPartner sends a monthly file to Altares Dun & Bradstreet containing more than 300 parties. Altares Dun & Bradstreet ensures that these companies are included in the platform so that ElectronicPartner can receive updates from the monitoring portfolio. "My morning actually starts with checking the alerts I receive from Altares Dun & Bradstreet" adds William van Nieuwaal: "Thanks to those daily updates, I am immediately aware of what mutations have occurred, ranging from changes in legal forms, insights into payment behavior or an unexpected bankruptcy that we had not yet noticed. With that signaling function, my day has immediately started efficiently and I can perform my responsibilities as Credit Manager qualitatively and with confidence."
85+
350+
100+
Thanks to customization, the monitoring dashboard is also easily accessible right away. The integration of your own debtor data with D&B data makes it easy to monitor payment behavior and bankruptcy risk. The platform also offers the possibility of setting up your own personal labels and alerts. Based on your own Risk standards and experience, the platform can be set up according to your preferences and a debtor portfolio can be managed optimally. William van Nieuwaal adds: "At a glance, I can see how my credit portfolio is structured and what risks are occurring. If you look at our total portfolio, it is in the green segment, which means: low risk. But there are occasionally different colors. D&B Finance Analytics's visual interface gives you a quick insight into which cases deserve extra attention. The moment an entrepreneur publishes financial statements, for example, you get an immediate notification so you know you can look at that publication."
By linking your own data to D&B Data, the Paydex rating, or the unique payment score, allows you to quickly compare the payment behavior of debtors with your own experiences compared to the market for an objective assessment. This gives ElectronicPartner a comprehensive answer to the question of how quickly entrepreneurs normally pay their invoices. This is not only based on their own input, but also on payment behavior to others. William van Nieuwaal confirms: "When an entrepreneur's payment behavior is flawless with us, but still receives a poor rating elsewhere, this is a signal to check what's going on. The beauty of those different perspectives is that it allows you to keep a very dynamic customer portfolio in order." Just as EletronicPartner likes to empower entrepreneurs and provide the necessary support to freely choose what suits them, Altares Dun & Bradstreet's tools provide the necessary support and freedom for ElectronicPartner to skillfully manage their credit management and relationship management.
3. The result
Time savings and blind trust
"Altares Dun & Bradstreet keeps us on our toes. Even when you miss a signal yourself, you are still always immediately aware of things that would otherwise slip your mind," confirms William van Nieuwaal, Credit Manager at ElectronicPartner. "That has a huge impact on our credit management. With Altares Dun & Bradstreet's training courses, we also stay abreast of what's going on in credit management and data provision. That way we keep learning about the latest trends and maximizing our tools."
"Thanks to Altares Dun & Bradstreet's up-to-date data, we save ourselves a lot of time. We are quickly informed when a change has taken place. Even in customer acquisition, it is worthwhile to check how a company is doing financially based on rich data sources, such as Dun & Bradstreet's data cloud."
Even more than having the right numbers in order, a reliable personal style plays a role for ElectronicPartner. They don't speak of EP:keeps you on track - the recently launched brand promise specifically for EP formula stores, which underscores ElectronicPartner's core value. Perhaps this is precisely what makes the good match between ElectronicPartner and Altares Dun & Bradstreet. William van Nieuwaal agrees: "Even more important than services or products, as far as we are concerned, are the people of Altares Dun & Bradstreet who really make the difference. They always think along with us, which is what makes us choose them again and again. There is a monthly check-in and Altares Dun & Bradstreet proactively makes suggestions on what data or tools can make our credit management even better. Their numbers and reports help make our business more human. Let that just be our unique selling point in the industry."
What other customers say
"As a company with an international focus, it is important for us to have a stable solution available based on global 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 decisions with market data"
"Altares Dun & Bradstreet's Marketing Insight solutions have provided ten times higher conversion from 'suspects' to 'prospects' in the Benelux"
"Altares Dun & Bradstreet understands the data and the business. Together we will take steps toward the sustainable future"
"We obviously don't want to do business with individuals or organizations that are subject to sanctions"
