...leading industrial services company optimises its Financing, Cash, Working Capital and Risk management strategy...
London - 4 February 2011 – Vallstein, the leading provider of Bank Relationship Management (BRM) solutions, has announced that global industrial services company Hertel is using its services to determine a new banking 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."
