Improved cost structure for debit and credit cards payments

The Golfino brand was founded in 1986 by Christel and Bernd Kirsten; this privately-held company started out as specialist in knitwear before developing into a provider of complete outfields in the field of sportswear. With headquarters located near Hamburg, a production plant in Porto, Portugal and a Europe-wide distribution network in 10 countries and over 500 shops in shop, Golfino employs today, as the European market leader in golf clothing, over 250 staff, whilst being in a strong expansion phase.

In order to not lose sight of the cost side during this strong expansion, the company commissioned Expense Reduction Analysts Claus Heitmann to review and reduce the cost of debit and credit cards payments. Heitmann brought with him the expert Hans Decker to work on the project. 24 stores located in 6 countries were involved in the project, most of them in Germany, the others in Austria, Switzerland and Benelux. Overall the cost of the money transactions amounted to 135.000 Euros.

Up until now, the structure of the provider with whom Golfino had worked, had grown organically with the rapid expansion of the company. First and foremost, Expense Reduction Analysts did an inventory of the existing contracts and service providers, then checked them against Golfino’s requirements. A tender was then prepared and several suppliers invited to bid.

Following the tender, all stores will be supplied by one unique supplier. In addition to significant cost reductions (23% in Germany, 30% in the other branches), Golfino benefited from lesser administrative expenses.

Markus Jung, CFO of Golfino, was very satisfied with the results. “With the help of Expense Reduction Analysts, we have significantly reduced the cost of debit and credit cards payments.” 

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