Trioplast continues to grow without credit losses
The fast-growing company Trioplast in Smålandsstenar should continue its expansion with minimum credit losses, thanks to DBAI and Monitoring.
You can see Trioplast’s products all over the place, but you are probably not aware of them. “What is probably most visible are the white silage bales you see in Swedish fields,” says Monica Olausson, credit officer at the successful company Trioplast." In 1965, Vilhelm Larsson had the idea of making packaging out of the then new material polythene. 43 years later, Trioplast is one of Europe’s leading companies in the field.
Monica Olausson is responsible, in particular, for ensuring that losses on accounts receivable are minimal, despite the rapid expansion. But she credits D&B in large part for the good results. “Without DBAI on the net I would not be able to do my job. I can hardly understand how people dared sell on credit before this aid was available,” she says.
All new customers are credit checked on DBAI. “I usually order a Comprehensive Report, a complete credit report. Apart from the rating, I look at various key ratios, in particular profit/loss, equity and equity ratio.”
The limit recommendation is also extremely interesting to Monica. She sometimes has to disappoint her sales staff when she tells them that the new customer they have just found somewhere in Europe is not at all creditworthy. “I ask them to require a bank guarantee or payment in advance. This avoids saying no to customers with rating B or C.”
On the morning, we talk to her, Monica Olausson has, as usual, received a few emails from D&B. She has many of her customers subject to Monitoring. “It is reassuring to be kept up to date with news on our customers, particularly on changes in rating. Thanks to Monitoring, I can quickly adjust our customers’ conditions and limits to suitable levels and seldom need to credit check old customers.”
She has current customers in her e-Portfolio from D&B. They all have a D-U-N-S® Number and it is easy for Monica Olausson to click to further information on a customer she wants to examine in further detail.