What impact did Euler Hermes have on the RCR Flooring business

Company name: RCR Flooring Products Limited
Type of business: Private Limited Company
Sector: Manufacture of other fabricated metal products n.e.c.
Company size: 51-100 employees

Jon Tarrant, Financial Director at RCR Flooring Products Limited, tells us his experience with Euler Hermes though an interview.

RCR Flooring Products Limited were relying on the questionable local knowledge of agents and distributors. Credit decisions were made on a leap of faith, which led to bad debt problems, as their credit checks weren’t working properly. The problems the company had that convinced them to get a Trade Credit Insurance Policy was that the company was at risk. With the help of their broker, they decided to get a Policy at Euler Hermes out as it came back as the most proactive.

Since working with Euler Hermes, RCR Flooring Products Limited has doubled its Turnover in the past 10 years. They have increased the number of countries they sell to as Euler Hermes is quick to add a new country to the Policy coverage. In the last year RCR Flooring Products Limited has sold in over 42 countries.

Having a Policy at Euler Hermes allows them to see which customers have a good or bad risk. Account managers at Euler Hermes are proactive and pragmatic giving an almost instant decision on a customer. The first thing RCR Flooring Products Limited do when they have a new customer is a credit check to know if it will be a good customer or potentially a bad one. If Euler Hermes rejects a customer, it can be looked at again to find a workable solution.

Jon Tarrant finishes the interview by saying he would wholeheartedly recommend Euler Hermes. That the service provided is “very professional, very proactive and very pragmatic”.