Coface pursues its strategy of innovation, expanding its CofaNet online offer with Policy Master and Cash Master.
With these two complementary offers, Coface facilitates credit management teams’ risk management and access to financing.
Complementary to and fully interfaced with CofaNet, Coface’s online policy management
platform, Policy Master and Cash Master have been designed to simplify clients' daily
management of their credit insurance cover, and make this more reliable. The services offered online help clients to secure and optimise management of their policies by reducing operational risk. Clients gain credibility, in particular with their financier and so can obtain better financing conditions.
CofaNet Policy Masterprovides the client with a real vision of its exposure to buyer related risks. The tool evaluates the actual outstanding amount per buyer from accounting data and compares it to the amount granted by Coface. Appropriate actions are then suggested to the client, such as preparation of the turnover declaration and alerts to notify the client of when any set credit limits are exceeded or to inform the client of approaching deadlines for the
declaration of overdue accounts. The client can then better understand the trade risk and grow by concentrating on solvent and robust buyers.
CofaNet Cash Mastersupplements this first module. Thanks to a secured certificate of cover generated by Cash Master, the client’s financial partners receive accurate information on the quality of buyers and the breakdown of covered invoices. Optimised cover, combined with fully reliable management of the credit insurance policy, is a very sound basis for seeking financing.
As both tools are designed and hosted by Coface, the accounting information provided by corporate clients remains fully confidential.
“These innovative tools will provide our clients with a reliable, secure platform to assist their daily credit management, and bring a great deal of comfort to their funding partners, hence supporting the wider economy.”
Frédéric Bourgeois, Managing Director Coface UK & Ireland