"At CreditDevice, they listen and think in solutions. The solutions and proposals are actually implemented. You notice that CreditDevice does its best to show that commitment."
- Jimmy Kok | International Credit Manager | Barentz
Barentz, is a global distributor in life science ingredients, divided into five divisions; Human Nutrition, Pharmaceuticals, Personal Care, Performance Materials and Animal Nutrition. Barentz was founded in 1953 by Mr. Barentz. Driven by a powerful mix of knowledge, entrepreneurship and collaboration, as well as strategic acquisitions, they have grown into a true multinational company with offices around the world.
Jimmy Kok has now been with Barentz for almost 12 years, where he started as Senior Credit Controller and has since grown to Global Credit Manager. According to Jimmy, what makes the company so strong and successful is that the products Barentz distributes have a fixed value and are among the primary goods for many customers. “Because of this, Barentz will continue to exist and grow.”
Influences of crises
The Barentz company seems to have a rock-solid market position on its own, but how do they deal with macroeconomic developments that they cannot influence? Jimmy cautiously explains that Barentz BV has actually been allowed to benefit from the corona crisis when looking at sales figures.
Creditmanagement without CreditDevice
Previously at Barentz, it was common for all credit management to be done locally by country/region/entity. Accounts receivable management was done in Excel and reminders were sent manually from Outlook. Jimmy explains that credit management was mainly done by the finance manager or even by sales. Since they already had different responsibilities, no one was really specialized and therefore there was less insight and knowledge for optimal credit management.
“CreditDevice actually came at the right time for us” says Jimmy, “With CreditDevice, accounts receivable management is automated, requiring much less manpower to do the same work. And all this while keeping the specialty and professionalism protected at the different locations.” Because Barentz has many different branches around the world, it is very important to streamline credit management processes properly. The growth of the trading company is still in full swing, so it is crucial for them as a company to gain global insights into the financial processes for each entity.
The first encounter
The story of how Barentz joined CredtDevice began in 2020 when Jimmy Kok was initially working with a similar party to create credit management solutions. This until Hans-Peter Vloemans, now managing director of CreditDevice International, showed up on the doorstep and found that CreditDevice could offer even more capabilities than its competitor. After some discussions, Barentz quickly discovered that CreditDevice’s software was much further in development and, not unimportantly, cheaper than the party they initially worked with. The main reason that led to the current cooperation is that CreditDevice offers a total package for the entire credit management. Jimmy; “Besides using the PolicyManager and accounts receivable management modules, you can also request credit information reports, use e-invoicing and easily switch between the modules.” So for Barentz, the choice to switch was quickly made.
They listen and think in solutions
Barentz has now been working with CreditDevice’s software for almost three years, and now you may be wondering, what has it delivered so far? Jimmy says that since CreditDevice’s arrival, Barentz’s global financial processes have become much more transparent. He also says that the software is very accessible. CreditDevice’s modules are all in one package, so employees don’t have to switch between applications or remember different passwords. Jimmy also says that when he has questions or comes up with new ideas to personalize the application, nothing is too crazy. “People listen and think in solutions. The solutions and proposals are actually realized, and you notice that CreditDevice does its best to show that commitment as well. For example, I still have a call with your sales manager every other week, and all this makes CreditDevice so unique and personal. “
The importance of PolicyManager and its relationship with insurers
Something that comes full circle is the good relationship CreditDevice has with the various credit insurers. This makes the overall cooperation very nice. For example, the credit insurers recognize CreditDevice as a company and as a developer of PolisManager. As Jimmy explains; “Such things naturally also count in the assessment of a credit insurer, whether or not they want to issue a credit limit, for example. These circumstances all affect each other and if the cooperation can go well and smoothly, in addition to a good relationship with the insurer, it creates so much peace of mind within your company.”
PolicyManager, I must have that!
During the interview with Jimmy Kok, he was asked what his first reaction was when he heard about PolisManager. “My first reaction? I have to have that, I want that, and that’s where we need to go!” he said immediately. The thing that makes PolisManager work so nicely for Barentz is that the software allows her to apply for all limits from the same environment. He also thinks the self-assessment help in PolisManager is a great feature. “As far as I know, they are the only party in the market with a properly functioning PolisManager. And since we are credit insured, this module is hugely important. This is because this way we can always meet the obligations and requirements that the insurer requires of us. This really sets CreditDevice apart from the other parties in the market.”
