15 August 2018T.P. Jordeson
Ben Scarborough of York-based timber importer and distributor T. P. Jordeson says that First Limit has allowed the company to provide a major enhancement of the service it offers new customers.
The £14 million turnover operation supplies high volume in articulated loads of £10,000 value. With margins tight secure transactions are vital.
Says Ben: “New business comes to us by word of mouth and once we’ve secured a customer our service levels mean we tend to keep them. Naturally we risk assess all new clients, using N2Check. But in our sector, speed of decision-making is of the essence and, quite simply, if we’re unable to respond to a new customer’s requirements straightaway, we’ll lose the order to someone who can – and that could jeopardise our long-term prospects.
“That’s why First Limit has proved so important to us. It enables us to start an account straightaway with a new customer, without the need to get figures or trading references from them beforehand and without the risk of customer default.
“It gives us the opportunity to convert inquiries into business as well as develop fruitful long-term relationships.
“We’ve been particularly pleased that CIFS understand our business well enough to set our First Limit trading level at £10,000 – exactly matching the single unit load which most new customers start at. For us this flexibility is a critical element of the First Limit offer.”
T. P. Jordeson’s broker, CoastalCIB adds that their own independent research into First Limit has indicated a very high level of positive responses to limit requests under the system. “We believe it’s an important part of the credit management mix,” says Coastal’s Derek Barnett.