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Client Ref.: 262.513
Client and project challenges
Large nationwide company located in Alicante that is dedicated to financial services. Factoring companies buy invoices, acquiring the risk of non-payment of the assignors and anticipating the amount of the invoice.
<!– wpml:html_fragment –> Credit insurance has two important benefits for factoring companies: on the one hand the information about the companies, factoring companies know the assignor, but usually do not know the debtors of this. And on the other hand, the coverage of the risk of non-payment, guarantee against possible non-payments.
<!– wpml:html_fragment –> Credit insurance has two important benefits for factoring companies: on the one hand the information about the companies, factoring companies know the assignor, but usually do not know the debtors of this. And on the other hand, the coverage of the risk of non-payment, guarantee against possible non-payments.
Our work and approach
Our goal was to work with insurance companies and get coverage, and we reached an agreement with two different companies. It was an important achievement, since the companies in this line of business are not usually willing to share the business. We designed specific clauses to regulate this coexistence of both companies.
Results
Our client has increased its factoring business, especially with international debtors, where its access to information was much more limited. They have also managed to convert a variable expense, which was severely limiting their growth potential, into a semi-fixed expense.
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