said Richard Green Managing Director of Abbey Glass. As the business has grown so has the size of the contractors and contracts that Abbey Glass regularly deal with, it soon became evident that they needed to protect the business from commercial risks.
The company took out a credit insurance policy with us and since then the Managing Director, Richard Green has “felt the most confident and comfortable in 26 years trading”.
Our network of risk offices monitors the financial performance and well-being of Abbey Glass’s customers. Each of these customers is allocated a ‘grade’ that reflects the health of their activity and the way they conduct business.
According to their Financial Director, Terry McCusker, the credit insurance policy “enables Abbey Glass to make decisions on our growth and our customers with confidence”. The policy provides the peace of mind to enable confident trade with new contractors.
Based on our risk assessment, each of the ‘buyers’ are then granted a specific credit limit up to which Abbey Glass can trade and be able to claim should something go wrong. This insight and protection allows Abbey Glass to make confident business decisions safe in the knowledge that if the unexpected was to happen they are protected.
Our risk assessment is now an integral part of the Welsh business, Richard states, “The insight Euler Hermes give us on new accounts, that require a credit facility, is invaluable, the system we have now is that if Euler Hermes don’t provide cover we don’t deal with them”.
“Working with Euler on a day to day basis is very easy, the answers we need are given very quickly and we have direct contact with our Account Manager so any questions or queries are answered without delay”.
Abbey Glass work Nationwide and have more recently began trading in European markets. They have ambitious plans to grow the businesses turnover from £5 million to £7 million in the next 3 years.
With the support of credit insurance Abbey Glass now has the “peace of mind to grow and trade on within a difficult market place, the building industry.”
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