Vandemoortele ahead with Altares Dun & Bradstreet integrated solutions
Vandemoortele products have been a household name in Belgium and far beyond for over a century. With its margarines, culinary oils and fats, sauces, vinaigrettes, cream substitutes and a wide range of bakery and pastry products, the food company is a trusted and welcome taste generator in numerous markets across Europe. For a balanced assessment of its risk management at an international level, Vandemoortele relies on the tools and datasets of Altares Dun & Bradstreet.
Vandemoortele
4.900
products
1,3
Billion in turnover
4.800
employees
As a company with international operations, having a stable risk management solution based on global data is crucial for us,” explains Louis Theunckens, Business Process Owner Finance. “On the strength of our collaboration of many years with Altares Dun & Bradstreet, we can rely on an efficient data management automation process and we can expand our customer portfolio based on in-depth credit advice. Altares Dun & Bradstreet's proactive attitude makes a huge difference for us: they involve us in their problem-solving process, challenge us and evolve with our growth objectives.”
1. The Challenge
Risk management based on reliable financial data
Vandemoortele is a pioneer when it comes to data integration. Ever since 2016, it has been asking for user-friendly tools and solutions to centralize its data and make it accessible via an intuitive interface. The Altares Dun & Bradstreet D&B Connect solution has met Vandemoortele's challenge. This tool enables the food manufacturer to make all credit checks and financial information available across departments and national borders in a manageable way.
"As a company with an international focus, it is important for us to have a stable solution available based on global data to do risk management."
“Our trust in their solutions also withstands the test of time,” adds Louis Theunckens, Business Process Owner Finance. “Indeed, our research into comparable tools shows that no other solution on the market can be so well tailored to SAP, our central enterprise resource software, and therefore to our day-to-day processes. The connectivity with SAP is therefore an absolute added value for us. The automatic updates, the user-friendly interface and, above all, the continuous monitoring via D&B Connect ensure we are always fully prepared when it comes to risk management.”
2 The solution
Integration with the Dun & Bradstreet data cloud
Louis Theunckens, Business Process Owner Finance explains: “Financial information about our customer portfolio is a primary and important requirement for our business. As a company with so many markets, it is crucial for us to know how healthy our business customer relationships are. Based on that data, we can assign a credit limit. The ingenious models and algorithms provided by Altares Dun & Bradstreet enable us to get the most accurate possible assessment of the financial risk that we take as a supplier. Those are strong pointers which are then used as a basis for our decision. Moreover, our internal analysis and audit showed that our internal assessments and those of Altares Dun & Bradstreet are a more or less 80% match. To put it simply: their products constitute a solid basis for us, a good foundation, so to speak, which we can use to build on with our insights. We can therefore say with confidence that their proposals are reliable and are the perfect complement to the internal investigations we conduct on our customers.”
12
European offices
29
Production Locations
1899
year of establishment
Altares Dun & Bradstreet's tool is therefore the binding agent that brings together all the ingredients for healthy risk management.
3. The result
Be able to follow credit procedures clearly and easily
As a result, Vandemoortele can maximize its focus as an international player on more in-depth analyzes that take its customer portfolio to a higher level.
Louis Theunckens, Business Process Owner Finance comments: “Being able to exclude redundant, manual or repetitive activities as much as possible is important to us. Now, we no longer waste time entering customer data or manually adding credit limits. Altares Dun & Bradstreet played a key role in adapting our processes. The efficiency of their tools allows us to shift our focus to activities that add value to our business, our customers and our vision. We value respect, teamwork and ambition. The time that is freed up enables us to focus even more strongly on our analyses, our customer relationships and our sustainable vision.
With the reliable financial data and accurate bankruptcy scores provided, and the use of unambiguous rating and intuitive interfaces, it can follow the internal credit processes clearly and easily without loss of time. As a result, Vandemoortele is able, with even more ambition, taste and enthusiasm, to fully commit to initiatives involving data-driven insights and analyses, sustainable customer relationships and a sustainable vision in general.
The result? An equally sustainable partnership with Altares Dun & Bradstreet. Something that is also possible thanks to their proactive attitude. Altares Dun & Bradstreet gives you the feeling that you are sitting at the table with a sparring partner. They provide you with new proposals and ideas that support your business, which in turn allows you to map out a path together, through a cordial and no-nonsense customer relationship.”
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.”
"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"
