At TenCate Grass the synthetic turf is always green thanks to top-flight credit risk and receivables management with Onguard’s CreditManager and PolicyManager.
The TenCate Grass Group and its subsidiaries develop, produce, market, sell and install synthetic turf and synthetic turf components. Its products are used in sports stadiums, back gardens, commercial facilities and leisure centres worldwide. The group operates in a wide range of sectors and has about a thousand customers in the Netherlands alone. Order size varies considerably, so TenCate Grass takes out credit insurance for its receivables. Cor-Jan Verhoeven, Credit Manager at TenCate Grass, deals with credit insurance and receivables daily. To streamline the accounting process and maintain an overview of credit limits and policies, the company uses two software systems: CreditManager and PolicyManager. Both were developed by Onguard.
Everything on paper
Verhoeven has been working as a Credit Manager for 25 years and has spent the last seven at TenCate Grass/ GreenFields. “One of my tasks is to arrange credit insurance to protect against potential non-payment. We want to deliver our products with maximum. cover, so we run the least possible risk. Then if a customer is facing insolvency, our insurance covers the payment. Order size can vary enormously. When there are large outstanding payments, we don’t want to carry the risk alone. So we use CreditManager for our receivables and PolicyManager for our credit insurance. Together, they are the ideal combination. In CreditManager we can see exactly which invoices are outstanding. PolicyManager connects to our credit insurer and shows us where we stand with credit limits. Among other things we can see which credit limits are about to expire.” Although this is the way we operate now, it wasn’t always like this,” says Verhoeven: “In the past, instead of using PolicyManager, we did everything on paper. We kept files and noted credit limits and outstanding payments per customer. It was reactive
rather than proactive and there was little control. Now, thanks to PolicyManager, all processes related to credit limits are automated. This eliminates errors and enables our colleagues to focus on their primary task, which is basically to ensure that delivered projects are paid for and to manage the risks.”