Managing credit risk inhibits sales
One aims to safeguard their business, while the other seeks to expand into new markets. But who says credit managers and business developers have conflicting goals? Securing a deal with a client is pointless if they lack the resources to meet their obligations. It’s far better for your sales and credit management teams to collaborate closely. Just one unpaid debt can quickly and significantly harm your business, especially with the recent surge in payment defaults and corporate insolvencies since 2023, which have surpassed pre-COVID levels. Did you know that 80% of businesses today face unpaid debts? And that 25% of these outstanding invoices result in bankruptcy? By partnering with a global trade credit insurance expert like Coface, you can manage risk more effectively and reduce your exposure to unpaid debts. Trade credit insurance enables you to grow your business securely, helping you make informed decisions to steer your commercial strategy more effectively.
See other misconceptions about receivables insurance here: https://www.coface.com/news-economy-and-insights/5-false-facts-about-trade-credit-insurance
