Client Case Studies
Protecting companies against unpaid invoices
Moyne London can focus on profitable projects and reduce the risk of costly abortive tenders thanks to timely credit information from Coface.
“Tendering for new projects represents a major commitment in time, effort and money. By checking the company is covered by Coface, we can be reassured that this investment is worthwhile.”
As Smeg UK put its new growth strategy into operation and launched different product lines, it returned to Coface credit insurance to minimise trading risk.
"When we had to make a claim, the service was very good and they paid within a month.”
Coface’s international reach meant that plastic card manufacturer, Nitecrest, was able to expand its export business and win new orders, without worrying about bad debt.
“Coface’s financial information is up-to-date and backed by the security of credit insurance. That gives us the confidence to trade in emerging markets like the Congo, Cameroon and Morocco which are important for our business.”
In its first year of trading in an exciting but high risk sector, Games Alliance turned to Coface to protect its growing sales and professionalise its operation.
“Gaming is a volatile market where companies can start and stop in a heartbeat so we needed to manage our level of risk properly. Coface gives us the comfort of knowing that an order is insured, rather than asking ourselves how much we can risk and sweating over it.”
Coface gave the owners of Procon Readymix the confidence to expand their client base.
“Coface quite rightly wanted the registered company title for our clients but it turned out that some of the company names we had were incorrect. It was quite an eye-opener to find that a client’s name was out-of-date or their business was part of a group.”
Coface’s flexible approach allows Premier Decorations to respond to protect its balance sheet during its busiest sales period.
“We would recommend Coface because when it comes to providing cover they are prepared to work with us to fi nd the best solution. We have an open dialogue with their underwriters who will always explain the situation to us and are ready to explore different avenues to meet our needs.”
Vestey Foods UK
Vestey Foods UK uses Coface to mitigate credit risk within its highly diverse customer portfolio.
“We work with a wide range of companies and all our business is account based. Coface enables us to make fast decisions about credit limits and we encourage our suppliers to work with them too.”
With more than 16 years’ experience of using Coface credit insurance, Stanley Gibson’s Chairman says the personal touch makes all the difference.
“Other providers might appear cheaper but they don’t provide the level of cover or the business relationship that we have built up with Coface.”
World Direct Travel Ltd
As an entirely self-funded business, working to tight margins, World Direct Travel decided Coface's credit insurance was the most cost-effective way to limit its exposure to client insolvency.
"After a tender process, we want for Coface because of the online credit checking, the competitive price and because Coface answered all my questions which gave me confidence."
Faretrade operates in Western Europe territories such as Germany, Netherlands and Scandinavia although around 75% of its sales are within the UK. The company directors first obtained credit insurance in 2005 as the business began to take off.
"As exporters to the EU, the fact that Coface has local underwriters in countries such as the Netherlands gives us added confidence."
Sleepless night are now a rarity for the credit management team at Bunzl Greenham, thanks to Coface's whole turnover cover.
"The value for us lies in the excellent information that Coface provides about our key market sectors and the peace of mind of knowing we are covered if our largest customers experience difficulties".
Star Micronics EMEA
Star Micronics, a globally recognised manufacturer of computerised point of sale equipment, established its UK-based subsidiary in 1985. Star Micronics EMEA is responsible for the sales and marketing of Star printers and accessories to Europe, Africa, India and the Middle East.