Maxeda DIY Group is the largest DIY retailer in the Benelux, with Praxis in the Netherlands and Brico and BricoPlanit in Belgium and Luxembourg. These retail chains are represented by 344 stores, both owned and in franchise form. Maxeda DIY Group has over 7,000 employees, around 60% working in the Netherlands.
This well-known retail business has stores with a total surface area of over 1 million m² with more than 1.5 million customers weekly in the stores and online.
Following a prior successful engagement with Bankbrokers in another business, the Corporate Treasurer for Maxeda DIY Group approached the team to benchmark payment costs and fair market pricing. The exercise was conducted efficiently and thoroughly to produce positive results. The project was completed with Kris Wielens, Corporate Treasurer at Maxeda DIY Group and Rutger Van Overbeek at Bankbrokers.
Kris comments:
“I already had experience with Bankbrokers in my previous Treasurer position and was already aware of their way of working and potential. We appointed Bankbrokers to review our costs for a part of our incoming payments. As a retailer, we obviously have many transactions. Most of the fees we paid were already priced at fair market pricing, which was a nice confirmation.”
He continues:
“However, some of the fees for incoming payments were not, and thus we benefited there. We agreed on fair market pricing with the provider and entered into a new contract with them. On top of that, Bankbrokers also reviewed the actual invoices for inconsistencies and/or errors. Bankbrokers found some items, and we also corrected this with the payment provider. All in all, Bankbrokers did a good job in a structured and professional manner.”
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