Hertel banks on expertise and proven WalletSizing® solution from Vallstein
...leading industrial services company optimises its Financing, Cash, Working Capital and Risk management strategy...
With the impact of the credit crunch having severely disrupted the global economy and financial services landscape, Hertel faced the challenge of having to restructure its banking relationships as the company had been left with ineffective and unsuitable banking services. In order to evaluate the market and understand what BRM-strategy would work best, Hertel decided to turn to Vallstein AG for cutting edge business intelligence and their proven WalletSizing® technology.
Leveraging the WalletSizing® solution and concept, Vallstein supported Hertel to identify suitable banking partners, as well as providing an actionable analysis of Hertel's treasury business, including full transparency on banking revenues and risks. This enabled Hertel to position the value of its own wallet, i.e. what value the company posed and how attractive the company was to a bank. With the support of Vallstein, Hertel was able to define and implement its new banking strategy for Financing, Cash (Working Capital) and Risk management on an international basis.
"What is so unique about Vallstein, is the combination of banking expertise and a proven software solution that offers rock solid information on pricing, rates and risks of our banking landscape," said Gentianna Weeda, Head of Treasury at Hertel. "With information and support from Vallstein, we were able to quickly determine our bank of choice as well as to negotiate an effective price-and rate structure.
"Banks still profit from the lack of knowledge many companies are fighting with", explained Weeda. "Leveraging the WalletSizing® solution you receive the market insight and information that enables you to negotiate much better terms and conditions resulting in significant savings."
"Post credit crunch, BRM has become mandatory because one just cannot assume that banking regulators will ensure banks are always ready to provide the right financial services. Companies today there have to ask the question: are we working with the right banks, how many banks should we be working with and are we assessing and reviewing our banking business on an on-going basis?" commented Patrick Adams, CCO of Vallstein AG. "We can help companies find answers to these questions - and like Hertel - support them to identify a sustainable BRM-strategy."
About Hertel Group
Hertel is a global industrial services company headquartered in Rotterdam. With a history of over 100 years in the industry, Hertel is a full service maintenance partner with over 13.000 employees throughout the world. With operations in twenty countries and projects in a further twenty-six, Hertel is a global organization able to deliver local knowledge and skills achieving total revenues of €759 Million in 2009. Hertel has established a balanced geographic spread, showing strong performance in the emerging markets while thereby stabilizing the effect of the current challenging conditions in the established markets.
Vallstein is the leading provider of Bank Relationship Management (BRM) solutions. The company was founded in the year 2000 following a vision to create a breakthrough in the way corporations manage a core component of their business, the banking business. Prime to Vallstein's solutions is the WalletSizing® concept, which provides a fundamental innovation in BRM. Delivered as software on demand (SaaS), Vallstein's solutions empower large and medium sized companies to gain full insight, control and compliance to their banking business, resulting in an information lead and significantly improved conditions. More than 130 corporations use Vallstein's solutions to execute their BRM.