Victorinox is a family business established in 1884 and based in Ibach (Schwyz) in the heart of Switzerland. Besides the legendary «Original Swiss Army Knife», Victorinox produces and sells various pocket knives, as well as household and professional knives. In addition, Victorinox has four further segments: Timepieces, Travel Gear, Fashion and Fragrances. Victorinox employs more than 1,800 personnel worldwide and achieves a turnover of approximately CHF 500 million.
In the field of business-to-business, Victorinox is also active in the manufacture and marketing of advertising material. The knives account for approximately fourfifths of the business. Victorinox decided to carry out credit checks on its advertising material customers as a number of sectors turned out to be problematic. «We check all of our new customers by means of BisnodeNet,» explains Hans-Rudolf Steiner, Advertising Material Sales Manager at Victorinox, «and in case of a late payment, we also check the credit rating of our regular customers» With approximately ten per cent of its customers, the advertising material department of Victorinox decides on delivery upon advance payment. This way it prevents late payment or even payment default.