Make the right decisions based on all the data!
Data: every company collects data to analyse and use in decision-making. Before you know it, there are several systems that are not always up to date and do not fit together. There is no overall view and interpreting all the data only becomes more time-consuming. Xolv works with PowerBI. Why?
5 major benefits of factoring
We are often asked what the benefits of factoring are. There are quite a few, but let's list the main ones here:
Cover fraud risk with insurance
Business fraud and scams are on the rise. 51% of companies experienced it last 2 years. 66% indicate that this is more than in previous years. This is according to research by Allianz and Hoffman Bedrijfsrecherche, among Dutch and Belgian companies. Cybercrime is clearly on the rise, but by far the majority of fraud and scams take place in traditional ways. With at number 1: own employees embezzling money or products or submitting false declarations.
What you see is what you get
Jeroen Ottevanger, managing director/partner at Xolv - After my 20-year career at credit insurer Atradius, I decided to start for myself after the last four years as deputy managing director. With nothing, just a desk and a phone, I managed to build a nice portfolio in a year and a half. I had just lost a pitch for working as a one-pounder when Paul and Erik bumped into me at a New Year's reception. To make a long story short, we decided to join forces and I became employee number four at Xolv. That was nine years ago.
Legal maximum payment period to 30 days
The liquidity position of companies is largely determined by the payment period of its debtors. In the Netherlands, the standard payment term in most industries is 30 days. We see that large companies, with a lot of purchasing power, make agreements that go far beyond that. They agree contractually on 60 and in some cases even 90 days. As SMEs, on average, have fewer reserves, this can have quite an impact on their cash position.
Relations appreciate service Xolv!
A while back, Xolv conducted a customer satisfaction survey among its relations. We are proud to say that they rated Xolv with an 8.2. Relations particularly appreciate the service in the field of credit limits and buyer information. That is our speciality. We invest in Risk analysts who support our relations in optimising coverage on their buyers, but also provide extensive information if a buyer's creditworthiness turns out to be not so good. We also analyse debtor portfolios so that trends can be detected quickly.
Declining confidence in the economy. What next?
After two-and-a-half years of uncertainty due to the corona pandemic, for the first time, it looks like we will have a more or less normal Christmas again. Lockdowns are no longer expected. Reason for optimism you would think. But no, consumer confidence is now at an all-time low for two months in a row.
What's left to do in 2022? Seven tips for maximum benefit
Slowly but surely, we will take stock: what did 2022 bring, what could be better in 2023, did you achieve your goals, where do you need to adjust? Can you grow or are you just marking time? In any case, what you can do this year is to read these seven tips. Then you will know what you can still do (or not do) to get the maximum financial benefit from your credit insurance policy or financing. Then you can tick off that too!
Why China is not dropping its own currency just now
Little is coming of Chinese plans to make the renminbi a major force in the currency world. However, the digital renminbi is well ahead of crypto currencies from other central banks.
Inflation record! And now down again
It was a bit of a gulp again when it was announced how high inflation has risen. However, a fall in oil prices and a cautious recovery of the euro, are signs that the worst of the inflation pain is behind us.