Integrated credit solution
Forbo Siegling is a market leader in the area of conveyor belts for all applications from logistic solutions to the food industry and the treadmill at the gym. Hoppenstedt360 provides Forbo Siegling with domestic credit information that is delivered directly into their SAP and CRM systems. Every day they evaluate about ten new customers and review 1,500 customers’ credit status each year.
Forbo Siegling performs credit checks on all new customers, and review current customers’ credit statuses once a year in order to reduce the risk of bad debt.
“Our job is to provide our customers with high quality products and to continuously develop our products in order to meet the future needs of the customers. The Hoppenstedt information help us make sound credit decisions which helps us stay solvent and to focus on our core business” says Thorsten Schulte, Team Manager Accounting at Forbo Siegling.
Access within the internal systems
With a history as a long term D&B Germany customer for international credit information, Forbo Siegling recently added Hoppenstedt360 as a provider of domestic information of German customers. Forbo Siegling replaced their web based credit information solution with Hoppensteds360’s “Lift 360”, which contrary to the former solution integrates with Forbo Siegling’s SAP and the CRM systems.
“Previously the credit information was accessed by the finance department alone, who would receive it as a pdf and send it to other parts of the organization. The former solution required that we printed all of the information in order to archive it and there was also manual data entry. Receiving the information directly into the system saves our employees’ time and reduces the risk of human errors”, says Thorsten Schulte.
Aside from making the information easier to access for a greater number of people, Lift 360 also provides Forbo Siegling with a better basis for decision making.
“We have easy access to visually appealing credit information which we can integrate with our own historical data to make the best possible decisions. This solution also allows us to back track and look at the specific information that was used to make a particular decision, which adds another level of security in the process. Right now we are monitoring 1,500 customers and every day we evaluate around ten new customers. Three-four people work directly with the system at our finance department, but 30-40 people in other departments such as sales and procurement access the information regularly via the CRM and SAP system”, says Thorsten Schulte.
Proactive innovation at Hoppenstedt360
“Our customer was looking for a flexible and versatile solution that would allow them to integrate external risk information into their existing ERP System. Our solution, Lift360 from Hoppenstedt360, provides them with up-to-date information, including payment history and risk and credit reports, directly into the SAP R/3 system. The information is easy to access, as the user does not have to switch between applications to reach it, and is audit proof as the system documents and stores the credit information”, says Björn Gienke, Account Manager at D&B Germany and Hoppenstedt360.Print