Papyrus Sweden AB

Papyrus builds its own model resting on the foundation of Soliditet

Wholesale company Papyrus Sverige in Mölndal continues to expand, while its credit losses fall. This is largely due to the use of its own scoring model, where data held internally is combined with information supplied by Soliditet.

In 2009, Papyrus Sverige AB was granted the honorary status of Diamond company, in recognition of its achievement of maintaining an unblemished AAA rating since the introduction of the credit rating in 1989.

“Yes, things have gone well for us, and we are steadily expanding,” confirms Rune Bertrandsson, who has been working with credit issues at the company since the mid-1980s. Today, Papyrus Sverige boasts in excess of 14,000 active customers, monitored by a three-man credit team. For a number of years, Rune has been assisted by Oskar Börjesson and Sasa Suko, the last-named also serving as accounts controller.

“No, no one functions as manager – we divide our customers between us,” explains Oskar.

Few companies take their credit work as seriously as Papyrus. This is reflected in its credit losses, which, despite the economic downturn during 2008–2009, have remained at 0.3 per cent over the last few years.

“Ninety-eight per cent of our losses result from bankruptcies we were not able to forecast. Naturally, we strive to further minimise our credit losses at the same time as maintaining our focus on sales,” says Sasa. And the company’s chances of success are excellent. The performance of Papyrus’ internally developed scoring model continues to improve. This model combines information supplied by Soliditet with the company’s own data, and is updated automatically, in accordance with monitoring provided by Soliditet. This includes changes in rating, and other parameters.

“The model results in a score between 1 and 100, and is currently used in Germany and Scandinavia, although we hope to be able to introduce it in more nations in the future,” explains Rune, who, together with his colleagues, is continually developing the model, in association with Papyrus Network Germany.

Just like his colleagues, he considers the information supplied by Soliditet to be highly reliable and easy to use.

“We have been using Soliditet as long as I can remember, and naturally, a large share of the credit for our low credit losses must go to them.” Papyrus also makes use of the Decision Support Norden system on a regular basis, and its credit team obtain daily reports on various companies. And not only for new customers.

“For us, the equity/assets ratio and liquidity are the most important financial ratios,” explains Oscar.

Facts about Papyrus

Papyrus Sverige AB is a leading Swedish wholesaler of paper products and consumables, supplying everything from serviettes to steel wool. Papyrus has just over 14,000 commercial customers – the majority of whom operate within industry, cleaning, and town, city and county councils – as well as sales offices and warehouses in Stockholm, Gothenburg, Malmö and Holsbybrunn (near Vetlanda).

Today, parent company Papyrus AB, which also has its headquarters in Mölndal, has units spread throughout 26 European nations. With 300 employees, Papyrus AB turned over approximately SEK 1.8 billion in 2010. President and CEO is Sören Gaardboe.

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