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ABO Wind AG develops solar and wind farms in 16 countries on four continents. For some years now, the company has been pursuing an internationalisation strategy and this is why ABO Wind relies on D&B Credit from Dun & Bradstreet to check the creditworthiness of suppliers and clients around the world.
Which construction companies in Tunisia have a particularly good credit rating? Who owns which shares of the company and who is responsible for what in the company? Thomas Werum – Customs and Trade Compliance Officer – can see this information at a glance now that ABO Wind is using D&B Credit from Dun & Bradstreet.
“Our clients and suppliers are spread all over the world. That is why it is so important for us to have a partner like Dun & Bradstreet on our side, providing data on the creditworthiness of companies around the world. This allows us to check the creditworthiness of our partners in countries such as South Africa, Colombia or Tunisia before entering into a business deal,” says Werum, pointing to his screen where he has just opened the creditworthiness report for a new partner in South America.
Information on more than 420 million companies worldwide can be found in the Dun & Bradstreet database. Reports include predicted credit scores and analysis, as well as information on payment history, negative events, corporate connections, financial data and third-party information from the Internet and social media. “We can make decisions based on facts and manage and expand our business activities using D&B Credit,” says Werum.
ABO Wind has a total of ten business areas. There is an employee in each business area who, as a key user, has their own login data for D&B Credit and can access specific information about their suppliers and clients in the database.
“When we reorganised our credit assessment more than a year ago with the support of Dun & Bradstreet, it was important to us to decentralise the entire service for the individual departments. This means our colleagues can research information on the creditworthiness of their partners themselves and automatically receive information by e-mail if a company from their portfolio files for insolvency, for example. The sooner we know, the better we can react and perhaps look for a replacement supplier,” explains Werum.
Werum is particularly impressed by how quickly D&B Credit provides the information automatically. “Only recently, we had a case where we found out within one day via D&B Credit that one of our suppliers had filed for insolvency.”
It only took four months to incorporate D&B Credit once we approved its use. The key users were given online training sessions that provided them with an insight into D&B Credit and tips on which data to interpret and evaluate and how to go about this. “We access the credit reports from D&B Credit, file them centrally and use the information to assess whether we can work with a company and on what terms. The process works efficiently.”