The largest family run milling group in Germany rely on Coface for over 25 years. Operating also abroad, the company uses Coface Premium Services to upgrade its trade credit insurance with proactive risk management and dedicated support. Bindewald & Gutting Group explains how the company benefits from Coface's expertise to further develop its business and effectively mitigate client risk.
Anja Twietmeyer, member of the management of Saalemühle Alsleben GmbH (Bindewald & Gutting Group):
What are your company's main areas of business and market positioning?
Bindewald & Gutting is the largest family-run milling group in Germany with the largest mill in Europe in Alsleben. Every year, we grind around 2 million tons of grain for food production.
We generate around 80% of our turnover in Germany, the rest is exported to Europe. We employ around 650 people at 9 locations in Germany and have recently taken over a mill in Brussels (Belgium), right next to the port!
How long have you been partnering with Coface and what are your company's needs?
We have had credit insurance with Coface for over 25 years and have grown together, so to speak. We feel very well supported and understood in our risk approach. We needed simple protection, as we have relatively few claims because we take great care to ensure that our customers' invoices are paid. In fact, what we needed above all was a kind of “vigilant watchdog” who points out risks and uses its information to alert us to potential payment defaults and protect us. This is precisely the task and the advantage of Coface for us.
In addition to obtaining financial information about our customers, trade credit insurance offers us a way of keeping a constant eye on payment deadlines and default risks in our company.
What advantages does the CPS solution offer your company?
Over the decades, we have built up a solid basis of trust in which cooperation is very good and open. Coface knows that we are very conscientious and keep a close eye on our risks closely. In addition to the dashboards and the options for evaluating credit limits and premiums, Coface's risk expertise, even in special markets such as ours, as well as guaranteed access to risk assessors, is one of the main advantages of Coface Premium Services (CPS) underwriters is one of the main advantages of the CPS offering. We do not talk to a hotline, but have a fixed personal contact person in the Coface credit department!
We are always in close contact: This makes it easy for us to get in touch at any time if we need a limit for a customer, have queries about underwriting or to consult or individually discuss other discuss other topics. We have really competent contacts at Coface who understand our company and our field of activity precisely, including for example special features of our business such as seasonality. Coface Premium Services (CPS) guarantees us access to a dedicated and knowledgeable underwriting team who provide expert support at all times.
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