
Risk in Context
Securing Payments: Challenges Facing Recruitment Agencies
Recruitment agencies have faced a variety of challenges in recent months, making it less certain whether they will receive payment from their customers on time.
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XWith a suitable credit insurance structure, companies can protect their biggest current asset – account receivables, gather market intelligence on existing and new customers/markets, improve their cash flow position and credit management process and also seize more global opportunities whilst staying safe
Senior managers and directors have considerable responsibility ensuring that all threats to the sustainability of their businesses are controlled and managed. Within the framework of complying with the duties of managing a business, it is possible that credit risks may be overlooked. Yet the impact of a bad debt on the business can be catastrophic.
The real value of credit insurance, aside from the fundamental balance sheet protection, is that it not only facilitates improved cash flow and reduced borrowing rates, but is also an enabler of increased funding levels from your bankers. It creates a secure platform for developing trading relationships with new partners and products, or in new markets, giving you a competitive advantage over other businesses which use their own balance sheet to fund such risks.
We use Marsh’s global relationship with insurers strategically to leverage the best possible value for you, and employ an expert team that focuses only on trade credit insurance and has a detailed understanding of the issues, the insurance market, and the solutions available.
We have a standalone trade credit claims management team that provides you with both claims management and advocacy services. This can reduce settlement time and improve your cash flow, as well as mitigating the risk of claims rejection and associated impact on profitability.
The result: Marsh's Trade Credit Practice is able to provide you with insurance terms and programme structures that minimise your costs while maximising your protection levels.