Company Showcase : A.B.S. Global Factoring AG

Company Showcase : A.B.S. Global Factoring AG

15 January 2019 by Erik Timmermans

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Thorsten Klindworth, CEO of A.B.S. Global Factoring and member of the WOA steering panel presents his company.

What is your Company’s business? What is its vision and mission?

Our business is Full Service Factoring as well as supply chain finance.

Our vision is: We live financing, with everything that goes with it.

And our mission is to secure the liquidity of our customers and to facilitate corporate growth for SMEs in Germany and throughout Europe.

In concrete terms that means that we are a Full-Service Factoring Provider. Founded in 1996, the company grew into a medium-sized enterprise in just over 20 years and became the market leader in Germany for group- and bank- independent full-service-factoring companies.

What makes the difference? From the outset, I always focused very intensively on the specific requirements of medium-sized companies. From my own experience, I know what it means to build a company from scratch and generate continuous growth. Liquidity plays a key role. But not only in the beginning of a company´s lifecycle, also during periods of strong growth or coming from a crisis period, the financing of a company is crucial. This is where we provide solutions and that is why we at A.B.S. take the time to understand our customers' business models in-depth. For us, our product must fit the customer and not the other way round. This is the only way to achieve sustainable growth.

My idea has always been: Liquidity from SME to SME – for an independent future!

What services do you offer and in which countries do you operate?

We are offering three different main services:

1. A.B.S. Factoring

With our way of Full Service Factoring, you obtain all the services associated with factoring: immediate liquidity, the security of a non-payment insurance as well as improved efficiency and relief from the burden of receivables management. Partial factoring and Export Factoring are also part of our portfolio. Each of our subsidiaries additionally offers market-specific subspecies of Factoring.

2. quickpaid

quickpaid is a fast, easy-to-use, online-platform for purchase financing that provides liquidity on the procurement side. Especially SMEs, crafts enterprises or retailers benefit from quickpaid.

3. Health care invoices services and Health Care Factoring

Through our subsidiary dgpar GmbH we offer financial services in the healthcare sector by taking over the complete receivables management for all privately liquidating service providers and physicians.

We are currently operating in 5 European countries: The DACH-region including Germany, Austria and Switzerland, extended by Slovenia and Sweden.

The fact that we have taken the step into new markets ourselves, allows us to create synergies, support cross-border business and to share our experience and know-how in internationalization strategies with many of our medium-sized customers.

Where do you want to take the business in the future?

We have always worked hard to offer our customers maximum service and comfort. So our goal for the future is the same as in the past: we want to be a reliable and competent partner for our customers and our whole network.

Since digitization is gaining increasing impact in all aspects dealing with trade receivables, digital processes are a driving force and we are currently developing new technologies to suit future needs even better.

We will continue the path we have already started with the launch of quickpaid – our new digitaB2B purchasing finance platform - and take the Fintech attributes of speed and transparency to an even higher level for our whole product portfolio.  We want to combine the best of both worlds for the benefit of our customers: long-term experience, know-how, professional competence and risk management on the one hand, with digitality, speed and independence on the other.

Thereby, we also want to address new client groups, like self-employed people, craftsmen or freelancers, and we will also provide specific solutions for physicians and medical practitioners.

What are the opportunities and challenges?

Since the factoring Market in Germany and also in Europe is constantly growing and more and more companies realize that there are alternative financing methods to bank loans and venture capital that lead to ad-hoc liquidity without the risk of becoming increasingly dependent on external lenders and their strategies, we are facing an exciting future. As the biggest bank-independent Factoring company in Germany we see the potential to further expand our market position here as well as in other countries.

On the other hand we and also the factoring industry as a whole will have to deal with regulation and fraud to name the two biggest challenges and the recruitment of well-educated staff is also always a key challenge for every growing company.

How would you like people to describe your business?

Anyone who knows me knows that I'm not a big fan of “off-the-shelf” offers - my colleagues share the same values. How we meet our customers? At eye level – with the common focus always in sight. Therefore, we appreciate that clients attest us to take the extra mile to understand their business models, think alike and act „from entrepreneur to entrepreneur”.

Furthermore, we like to be described as flexible when it comes to being close to the client and develop solutions - thereby having a 360-degree-view to find the best possible way to solve the client´s demand. We are fast when it comes to taking the necessary decisions and we love stable and long-term relationships with our clients and partners.

To summarize, the idea of service is a very important aspect for us as well as our premium products.

In addition, we also want to be a reliable partner in cases, where problems can be solved digitally and standardized – so always offering the perfect fit to each customer is how we like to be described.

What’s one thing that people are surprised to learn about your business?

One of the things people are surprised about is our large and viable partner network.

Our membership in the WOA-Community adds to that philosophy. In addition to national and international financial service providers - such as banks and investment companies - our partner network also includes law firms, credit insurers, consulting firms, credit agencies as well as universities and associations.  Our clients benefit from the entire experience behind it. But of course there is more than just one fascinating fact about A.B.S. Global Factoring :) 

 

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