UK Based company selling scrap metal and recyclable materials to foundries and end users of recyclable materials in both the UK and abroad. Total sales have reached over £30m with both organic sales and acquisitions.
Requirements & Solutions
This company did not a have an established credit management operation and following a rapid expansion were looking to implement new credit management procedures. They were also looking for protection against bad debts to support the growth, including some significant concentration of risks with a handful of customers, in what most underwriters would consider to be a high risk sector.
By working with the client and understanding their requirements in detail, Acumen Credit Insurance were able to recommend new credit management procedures to ensure a fully operational credit control function. We also designed a new and innovative credit insurance policy to fit with the credit management procedures which was also tailored to include cover on even high risk buyers. Not only did our client now have a sophisticated credit management procedure and credit insurance policy, they were also able to fully maximise their receivables finance facility thanks to the security afforded by the policy.