The leading UK distributor of consumer goods brands, DCS Group delivers products (food, household cleaning, health and beauty) to over 500 retailers and wholesalers across the UK. With growth having doubled over the past ten years, commercial risk management is a strategic lever integrated into the decision-making process. Real-time customer risk monitoring, protection against non-payment and debt recovery services: to continue on its growth trajectory, DCS Group relies on the solutions and expertise of Coface, its global partner for nearly 20 years.
I am Jonathan Berry, Chief Financial Officer at DCS Group in the UK.
Founded in 1994, DCS Group has grown to become the UK’s leading distributor of FMCG brands, supplying food, household, health and beauty products to more than 500 retail and wholesale customers across the UK. From major national retailers to independent wholesalers, our role is simple: ensuring the right products are available where consumers need them, when they need them. Built on strong relationships, entrepreneurial spirit and a culture of character, DCS has established itself as a trusted partner across the UK retail supply chain.
Today, the Group manages a portfolio of many of the world’s leading brands alongside our own successful product ranges, including Enliven, manufactured within our own production facilities. This combination of brand distribution, manufacturing capability and supply chain expertise has enabled us to build a resilient and diversified business model.
Growth has been a constant throughout our journey. Over the last decade, turnover has doubled to more than €400 million, driven by long-term customer partnerships, operational investment and a relentless focus on service, excellence and continuous improvement. Our ambition remains firmly focused on the future, with plans to continue expanding both our market presence and capabilities as we work towards the next stage of growth.
Trade credit insurance: more than just financial protection, a strategic tool embedded in the decision-making process
However, growth within FMCG distribution brings its own challenges. The sector operates on high volumes, competitive margins and extended payment terms, all against a backdrop of increasing labour, transport and financing costs. Managing risk effectively is therefore critical. In an environment where a single customer failure can place significant pressure on cash flow, working capital and future investment plans, having the right financial protections and partnerships in place is an essential part of sustainable growth.
Given these stresses, trade risk management at DCS is not just another financial matter; it is a strategic lever, integrated into decision-making. And to ensure our continued growth trajectory, we rely on the trade credit insurance solutions and expertise of Coface, our global partner for nearly 20 years: real-time monitoring of client risk, protection against non-payment, debt collection services…
But for us, Coface’s added value lies in its ability to anticipate: not in reaction to an incident, but when the signals are still weak. Coface’s early warnings are generated by an 80-year legacy of enriched and updated credit data, and the expert eye able to detect what is not evident in a standard financial report. With one key strength: the combination of multi-source information, country- and sector-specific analysis, 80 years of global payment experience, and direct dialogue with the risk underwriting experts, enabling us to take immediate action on any doubts or risks.
From "It’ll blow over" to avoiding million-pound debts: the power of early warnings
I remember one example, a beauty products distributor in the UK. In early April 2025, on paper, the business relationship was as sound as could be: regular communication, accounts receivable sent... Then the first weak signals appeared: contradictory information, signs of cash flow tensions. The most natural reflex would have been to wait. Especially as the pressure was high: commercially this was a major customer.
Where we might have told ourselves, “It’ll blow over”, the analysis was deepened, cross-checked and challenged. By the end of April, despite the significant commercial stakes, the recommendation from Coface’s risk experts was clear: act as soon as possible.
We then took a decision we would never have taken without the Coface insight: to freeze our exposure, despite persistent requests. In May and June, we managed the situation smoothly: a gradual decrease in our insured and uninsured outstanding amounts, securing deliveries, repayment plans, all whilst leveraging our status as a key supplier.
As a result, between April and June, our exposure was reduced by six.. just in time! A few months later, when the customer filed for bankruptcy, we suffered no losses. And we avoided unpaid debts of several million pounds: a financial shock that would have had a direct impact on our results and cash flow. This approach to commercial risk management isn’t just about avoiding the worst. It allows us to dare to grow, rather than giving in to the temptation to retreat, whatever the environment and the uncertainties we face.
"Turning uncertainty into opportunity"
Conversely, there are the “yeses” that drive growth. When a leading chain invites us to expand our offering, the question is no longer “Do we dare?”, but “How we secure it so we can dare?”. And yet there are many reasons to hesitate: new volumes, payment terms, opening credit lines… What gives us the confidence to say yes is that we know our partner is continuously monitoring the risk, that the cover is adjustable, and that we have guarantees against payment defaults. We can make decisions more quickly and with greater confidence, without letting a transformative opportunity for our growth slip by.
Ultimately, this is what I want to share today with my peers, CFOs and risk managers: risk will never disappear, you have to deal with it in your daily work. If you’re able to spot it early enough, if you can rely on powerful solutions and the right partner to navigate risks and drive decisions through the cycles: then—and only then—you’ll be able to turn uncertainty into opportunity.
That’s it, Keeping your world open!
