Credit management by Waberer`s International Pte. Co.

Credit management
by Waberer’s International Pte. Co.
Dr. Erzsébet Antal
CONTENTS
Contents
Where we are coming from
Who we are in numbers
Introduction of trade credit process
Results
WHERE WE ARE COMING FROM
Where we are coming from
Foundation of Volan Tefu in 1948 to serve the
domestic transport market
Foundation of Hungarocamion in 1966 to serve
international transport market
Privatization of Volan Tefu in 1994 and
Hungarocamion in 2002 by Mr. György Wáberer
Foundation of Budapest Intermodal Logistic
Centre in 2001, BILK
The name changes to Waberer’s 2003
Structural changes within the organisation 2012
WHO WE ARE IN NUMBERS
Who we are in numbers
65 years of experience in cross-border road transport
With more than 2500 own asset curtain-sider
trucks & 600 exclusive subcontractors’ owned vehicles
- the largest fleet in CEE
Committed to the environmental protection - the average
age of fleet is 1,8 years
Transport orders fulfilled in- and outbound to all
European countries including Great Britain
One of the biggest road transport companies in Europe
377,5 million EUR Turnover in 2012
More than 250 000 full truck loads moved in 2012
More than 330 000 000 km driven
210 000 m2 indoor warehouses in Hungary
Capacity Availability
Germany
800 units per week
France
700 units per week
Great Britain
600 units per week
Benelux States
500 units per week
Italy
500 units per week
Spain
200 units per week
Central Eastern Europe
1000 units per week
Financial data 2004-2012
INTRODUCTION OF TRADE CREDIT PROCESS
Main credit information
More than 10 year experience and database
More than 80 mEUR receivables (trade credit & VAT refund)
More than 6.000 customers with 300 orders annually
More than 22.000 customer analyses annually
Group level Credit M. dealing with all difference intustry all over europe
Own transport system with credit modul
From back office status to front office
Credit workflow
Credit workflow
Request
Factor,Limit
Partner monitor
Factor,Limit
Factor: volumen
invoicing and payment terms
documentum request
guarantees
Management level limits and terms
Full customers data in the system upfront
Advantage:
commercial buy in
stronger financial awareness
quick process
Credit Agency,
Insurance
Credit workflow
Documentsending:
Invoice
E-invoice
Paper document
Electronic document by smartphone
Manual
Automated
Settlement list and selfbilling is secret opportunity againt the longer payment terms
request
Credit workflow
Orders
•
Issues:
administration issues (own/cust.)
customer liquidity issues
•
Critical: timing ,quick decisions (20 min.)
Automated controls (blocking)
Our Learnings
One day delay isn’t acceptable
Continually innovation
Automatied and controlled process
Continuosly training for commercial
Clearly defiened responsibilities and KPI-s
CM shouldn’t have only control function but also support understanding the
business
RESULTS
Our Results
Days sales outstanding reduced
Bad debt ratio dramatically improvment
Critical factor: How to handle commercial and financial interest
THANK YOU FOR YOUR ATTENTION