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Oliver Gerstberger is Director of Corporate Funding for the Selecta Group in Switzerland, an international provider of OCS (Office Coffee Services). Think coffee machines, coffee beans and maintenance contracts for offices, workshops, retail, hospitality, healthcare facilities and numerous public areas such as train, bus and metro stations. Oliver is responsible for a wide range of financial matters at Selecta, including managing credit insurance and factoring contracts. 

Lead broker
In 2017, Selecta acquired coffee wholesaler Pelican Rouge. Oliver: "Xolv was the broker for credit insurance. When the insurance and factoring contracts for both companies needed to be combined, we approached Xolv to guide that process and manage the tenders. Over the years, that cooperation intensified. Meanwhile, Xolv is our lead broker in setting up credit insurance and factoring programmes in all the countries where we operate and they advise us on many other financial issues."

Keystone Trade Credit
For overseas operations, Xolv can draw on the expertise and global network of partner Keystone Trade Credit. "However, Xolv is always our first point of contact if there are issues, questions or problems. They see whether and, if so, which of their international partners should be involved to achieve the desired results and solutions. In this sense, Xolv is also our sparring partner to explore new ideas and business opportunities. Xolv's partners are entrepreneurs themselves, so they have a good, business view on this," Oliver said."

 'They are flexible and fast, very fast indeed'

Coronacrisis
When asked what Oliver appreciates most about Xolv, he doesn't have to think long: "They are flexible and come up with solutions quickly. For example, they also helped us very much when in 2020 our business model was hit by the corona crisis. Because go figure, when everyone works from home, the coffee machines in all those offices and business areas are standing around doing nothing. The same goes for the coffee machines on train platforms, in metro, bus and train stations, shopping malls, hospitals and you name it. Many debtors were without turnover. Xolv then negotiated a good compromise between us, the credit insurer and factoring company."

AH to go micro markets
"Selecta is always developing new coffee concepts," Oliver explains. "Good food and good coffee at work is something employees find increasingly important and highly valued - it's the next big thing. Selecta, in cooperation with Ahold, now offers their customers and employees quality coffee under the brand name 'AH to go'. Since the COVID crisis, employees are in the office less often and at different times. At the same time, there is an increasing need for a cosy meeting place with varied, healthy and fresh food and drinks. This is why we have joined forces with Albert Heijn: with 'AH to go 24/7 at work' we offer companies the opportunity to set up an unmanned and attractive self-service food market for their employees. This innovative grab-and-go solution is perfect for organisations with 60 or more employees and visitors. Such micro markets concepts offer unique added value to our customers and their employees. This generates significantly more sales for which, of course, credit insurance is needed."

Close relationship between Selecta and Xolv
Over the past few years, the collaboration with Xolv has become increasingly close. "The strictly business relationship in the beginning has evolved over time into a personal, more or less friendly relationship. Without compromising the professional nature of the cooperation, by the way. In the end, it is always about the result. About solutions that fit our way of doing business," states Oliver.

Dirk Schaffrath (51), after joining his father Guido's company as a youngster of 23, has been managing director-owner of TCK Sports Group since 1997. Today, the Kerkrade-based family business with over 70 employees is one of the largest independent importers in the sports and outdoor sector in the Benelux.

TCK Sports Group has been doing business with credit insurer Allianz Trade for years. Dirk: "We built a customised rating system ourselves and integrated it within our own IT environment with Allianz Trade's rating system. For customers where Allianz Trade issues no or insufficient limits, TCK has its own complementary credit limit system. That process, including approval and monitoring is fully automated and integrated into TCK's CRM environment. Is a customer not paying? Then that additional credit goes off automatically too."

Experience on your side
Thanks to its own rating system, TCK Sports Group is thus perfectly capable of handling day-to-day, routine matters with the credit insurer itself. Dirk: "However, when it comes to limit assessments for new customers or contract discussions, we were sometimes less prepared than I would have liked. It is a very specific matter and then it is good to be assisted by an experienced broker like Xolv. They know the jargon and considerations of the credit insurer. Know the snags and snags, the do's and don'ts."

Found through FGHS
Dirk: "I don't like cold acquisition so we actively searched for a suitable broker ourselves. Through our industry association FGHS (Manufacturers and Wholesalers in Sport), we ended up with Xolv, as they are already cooperation partners of FGHS. For instance, they have developed a number of industry-specific financial products for FGHS members. So they are already familiar with the industry, which makes a difference."

'At the first meeting I had an immediate good feeling'

Additional added value
Dirk: "We don't add anything to the products themselves. So we have to add value in another way as importers. Because otherwise it is logical for manufacturers and retailers to think: can't we take out this importer? Our extra added value is based on knowledge. For instance, we offer foreign manufacturers insight into local markets. Think of retailers' payment behaviour. Or our knowledge of local sports segments to which both manufacturers and retailers can respond. In addition, risk management is an important added value. For example, we see earlier when a local retailer is on the verge of collapse than a manufacturer in Italy or Turkey."

Faster, better and cheaper
Dirk reiterates the importance of data: "We want to fulfil our 'added value' philosophy faster, better and cheaper than our competitors and direct providers. This can only be achieved if you have good data and gather it with our advanced automation. We will therefore continue to invest in that. That never stops."

Personalised approach
What especially appeals to Dirk about Xolv is the personal, informal approach. "You can call them anytime. They tell the honest story and give us a better understanding of how credit insurers think, weigh and weigh. What also quickly became clear is that Xolv understands our market and is really interested in our business processes and the way we work. We also click very well on a personal level, which is very pleasant to do business with," says Dirk.

FGHS is the umbrella trade association of sports suppliers and has around 120 members. Together, these account for the lion's share of annual turnover in the Dutch sports sector, which amounts to between 1.5 and 2 billion euros in consumer spending. Besides national and international advocacy with retail and sports organisations, government agencies and any organisation or body dealing with sports goods, FGHS offers its members a wide range of services. These include business and legal advice, logistics services and financial services such as credit insurance and working capital solutions. With regard to the latter in particular, members can call on Xolv's expertise.

Joint action
Managing director Dirk Vinken considers the provision of a good credit insurance broker an essential enhancement to the practical help FGHS offers its members. "I have known Paul van Uden of Xolv personally for a long time and have confidence in his qualities and the colleagues he works with, so then the choice is easy. We have been working with them since the start of Xolv."

Asked whether members often enlist the help of Xolv, Dirk answers in the affirmative: "A while ago, we rolled out a joint action with Xolv among members and over 50 members responded positively. Not surprising of course when you consider the huge impact the Corona crisis has had - and is still having - in the sports industry. Then our members logically look at how they can better hedge against financial risks and increase their working capital."

Billion-dollar business
FGHS has been around since 1950 and Dirk has been involved since 1995. Dirk: "Since the early 1990s, sports is no longer a sideshow but big business. A billion-dollar industry in which sports brands like Nike, Adidas, Puma, Under Armour and Asics, for example, have grown into global brands. So if you want to properly represent the interests of that sports industry in all (inter)national organisations, that really is a day job. You have to take that seriously. I always say: I have a world job. Because sport appeals to everyone, has a great 'feel good' factor. It is a positive, young and energetic industry that is always on the move. I get energy from that myself."

Hiring expertise
With a small team, FGHS as an organisation can definitely be called lean & mean. Dirk: "After all, you don't need to have all the knowledge, skills and specialists in-house, but you do need to know where to find them. Expertise for practical services is therefore hired, such as for logistical support and business and legal advice. Of course, these have to be very capable partners, such as Xolv, to which we as FGHS can confidently attach our name. Our members are very critical in that respect. And rightly so."

'You don't do business with companies, you do business with people'

Dirk praises Xolv's high level of commitment and illustrates it with an example. "From March 2020 when Corona really hit, we had meetings with our members every month. Often Xolv was present at these. Not to sell anything, but to advise, explain things, share insights and answer questions from our members. They know the market, the sports industry and know better than anyone how to clearly explain complex topics such as credit insurance, factoring and working capital enhancement. As a result, our members were able to switch and act quickly. See, that is thinking along and investing in mutual cooperation," says Dirk.