International Brand Services
PIETER-WILLEM SLOOTWEG - CEO
“As an entrepreneur, we work with other entrepreneurs. In this process, no hard communication should arise. At Boozt24, you have control over your customer communication."
About International Brand Services
International Brand Services BV, based in the heart of Amsterdam, is a wholesale distributor of high-end beauty products, including perfume, makeup, and hair and skin care products, produced in an artisanal manner by small companies focused on quality. The company provides promotion and logistics services and builds a customer base for these companies, which often have little or no budget for these aspects. The company itself is highly automated and operates like a tech company, allowing it to work as efficiently as possible. It offers unique training programs for its retailers, teaching them how to sell products based on added value rather than price. Customers looking for high-end products are looking for an experience and recurring quality, rather than being swayed by discounts offered by larger chains.
Own control over communication with the customer.
As a wholesaler for the beauty industry in the higher segment, International Brand Services BV knew from the start what the company did not want when it was looking for business financing: to enter into a relationship with a conventional factoring company. In that case, there would be a party between the customer and the company that would take complete control over the communication with the customer. International Brand Services wants to keep this communication in its own hands.
When the company set out to find a financial partner, it quickly became clear that banks were a "no go" and conventional factoring companies would stand too much in the way of the company-customer relationship. "I happened to come into contact with the concept of Boozt24," says Slootweg, "the smart way of advance financing appealed to me, it seemed more flexible than normal factoring". However, the fact that a company at Boozt24 maintains full control over its relationship with its own customers was decisive. "You are now actually financing with your own money and not with credit money, there is no grip outside the debtors on your business operation," Slootweg explains, "so also not on your customers". And that was an excellent reason to choose Boozt24.
After a relatively short period of consultation, everything was up and running. International Brand Services BV received a portion of the invoice amount within 24 hours after submission of the invoice via the Boozt24 system. The amount depends on the payment behaviour of the customer and therefore on the relationship between customer and supplier, but the control over this relationship is entirely in the hands of the company, unlike with conventional factoring.
The way International Brand Services BV works can best be compared to that of a tech company, also in financial terms. "We have been working with an Exact cloud solution for some time now that is linked to our logistics," says Slootweg. "You can handle all matters from your iPhone and the Boozt24 system also fits in well with that". The automated debt management of Boozt24 is of great benefit to the payment behaviour of retailers, more so than other solutions in the market. "We are entrepreneurs working with entrepreneurs and no third party should come between us," concludes Slootweg. "Overall, Boozt24 hardly feels like a bank".