Coface UK, a provider of credit solutions for business, has conducted a survey of clients and revealed that businesses perceive a wide number of benefits to having credit insurance that enhances their competitive advantage.

The independent survey was conducted in the fourth quarter of 2004 amongst 120 Coface UK clients. The benefits mentioned by clients, in order of importance, were that credit insurance provides the following;

  •  Early warning system
  •  Efficient debtor management
  •  Balance sheet protection
  •  Good customer information
  •  Payment security
  •  Guarantees for the bank
  •  Qualifies the credit quality of sales prospects
  •  Better access to finance
  •  Promotes image of financial prudence
  •  Enhances ability to forecast.

    Commenting on the survey results, Trevor Byrne, marketing manager, Coface UK, says: “Our survey demonstrates that credit insurance is much more than protection from bad payers. Businesses are using it as a strategic business tool to help them proactively manage credit risk, improve access to finance and plan more effectively.”