Checking creditworthiness
When you approach prospects, it is important to know how creditworthy they are. After all, you want to work with the best companies in the market, don't you? After all, there is little point in doing business with companies that are unlikely to be able to meet their obligations. Of more than 80 million companies worldwide, the world's three largest credit insurers have collected the most accurate information on their creditworthiness. When these credit insurers provide positive advice and cover, they must also pay out if things go wrong.
Knowledge of local markets
If you are experiencing tremendous growth or have growth ambitions, credit insurance supports entering new markets, especially when exporting. Tapping into new markets often means doing business with unfamiliar companies, cultures and customs. Because these credit insurers are globally based, they know the local markets very well. And therefore they often know with whom you can, and especially with whom you cannot, do business without worries!
Working capital insurance
Often, growth also means pressure on financing. Working capital financing is the ultimate tool here. After all, as turnover grows - and so do accounts receivable - working capital financing grows with it. And if these accounts receivable are credit-insured, financiers can also finance optimally. Sometimes up to 90% of the accounts receivable.
Supplier credit
Supplier credit is becoming increasingly important. Many buyers know this too. So they want credit insurers to provide as much coverage on them as possible. Because this also means more supplier credit. As a result, they are increasingly cooperating in providing financial information. But there is an even bigger advantage: suppliers who have credit insurance are also paid more often and faster. After all, a buyer would rather not have a negative record with a credit insurer.
So when it comes to credit insurance, try not to think only in terms of risks, but mainly in terms of opportunities. The glass is not half empty, but half full. A great tool to grow your business the right way!
Find out more
By thinking in terms of opportunities, we help your business grow. Xolv's specialists will be happy to look with you and advise you on what you can do to get the most out of your credit insurance!
