Cash & Liquidity Management
Please note: this article is over 10 years old. If you feel this article is inaccurate or contains errors get in-touch here . Many thanks, TMI

Factoring in Pharmaceuticals

by Dr Thomas Trümper, Chairman of the Executive Board, ANZAG

Driven by changing market circumstances and business needs, switching to a receivables-based method of financing has delivered a range of benefits, says Dr Thomas Trümper, Chairman of ANZAG. A leader in the German wholesale pharmaceuticals market, ANZAG has an annual turnover of around EUR 4bn and employs just under 4,000 people. We supply around 8,000 pharmacies in Germany with goods from over 2,000 suppliers, something that often takes place several times a day.

We decided to address some aspects of our medium-term funding requirements by putting in place a factoring programme for our business in Germany.