Ken Tax opts for efficient collection of unpaid invoices

Tcm Belgium spoke toKen Taxabout the internal and external follow-up ofunpaid invoices, where it quickly became clear that efficient collection plays a central role for him in his choice of TCM as collection partner. As business manager of bothFoodbrain Internationalas well as the expandingVerbinnen Sweets & Deli International, he has no time to waste!

Growing players in the chocolate, confectionery, and deli industry

Started in 2014,Foodbrain Internationalis known fordistributing 100% Belgian chocolate. By acquiringL’Heritage Chocolates, Foodbrain International can proudly claim to keepone of the oldest Belgian chocolate brands(°1942) alive, and on the counters of bakeries and specialty shopsin more than 30 countries.

In 2016,Verbinnen Sweets & Deli Internationalwas acquired,a wholesalerof chocolate (and therefore a perfect fit with Foodbrain International), confectionery and delicacies. After the acquisition,turnoverwasalmost tripledin a few years! Verbinnen Sweets & Deli International suppliesaround a thousand customers, mainly in Belgium and the Netherlands.

Labour-intensive internal credit management

In terms of invoicing and follow-up, Verbinnen Sweets & Deli International is particularlylabour-intensive. Some twenty invoices are issued every day, which amounts to some 5,000 to 6,000 invoices on an annual basis.

Ken himself maintains a complete overview of outstanding invoices. We find this quite impressive in itself, given that his core task is obviously not just this follow-up. However,an essential partof any self-employed activity isensuring that all outstanding invoices are paid, Ken stresses.

Every week,automatic remindersgo out to customers. This does not always go well, as some customers are rather careless with their contact details. They give incorrect mail addresses or forget to communicate new mail addresses, so these automatic reminders do not always arrive.

For this reason, the representative is also involved in the unpaid invoices, and for a while they worked with a freelancer who was responsible for personally calling the defaulters. However, this gave little result and still cost some money. It was time to look out for a better solution for collecting and following up outstanding debts.

Looking for an external partner to follow up on unpaid invoices

Inthe search for a complementary partner for collecting unpaid invoices, Ken first ended up with a lawyer. However, he soon felt that this partnership did not give the desired result. The procedure was cumbersome and also not exactly a lawyer’s core business. Through the bailiff, it was equally uncertain that quick collection would follow. On the basis of a summons or judgement, there often still has to be an effort to effectively receive the amounts in the account.

TCM Belgium responded to the need to no longer have to worry about unpaid invoices, and the results soon spoke for themselves. Ken is pleased with our partnership’ssuccess rate of over 90%, and the no cure no fee policy is equally a plus. He finds the high-performance online system, where all files can be consulted clearly and quickly, fantastic. Files can also be passed on very quickly, and when every second counts, that is definitely a plus.

Ken emphasises thatthe ability to visit debtors locally, as well asthe international local presence through the TCM Group, are the decisive factors of our cooperation. We are currently collecting a file from him in Portugal through a payment plan, and Ken is firmly convinced that he would not have secured payment from this debtor without our intervention.

In addition, Ken wants to be helpednot only for the big files, but equally for the small unpaid invoices of EUR 50. And that goes with TCM Belgium, the collaboration ensures thatdebtors are ‘educated’ to give priority to paying every invoice.
A point of criticism? Ken tips us to provide a ‘Teams’ button in our system, so that creditors can quickly request a personal conversation (online) with us via that route. Handy!

For more info about our help in collecting unpaid invoices, contact usat s.dereze@tcm.be or +32 16 74 52 00.

22/12/2022