If you’re doing business internationally, you really don’t need to know and be able to do everything yourself. The trick, however, is to be able to operate globally whilst having access to local knowledge, contacts and expertise. And that is precisely where ICBA’s strength lies. At the meeting in Amsterdam, for example, we were connected to the whole world.
One customer, multiple local realities
Let’s take the example of a Dutch company with customers in Germany, Italy, Poland, Brazil or Asia. This company manages a single international accounts receivable portfolio. But, as you will appreciate, credit risk is not the same everywhere. For example, there are different payment cultures; each country has its own laws and regulations; and financial information varies from country to country. Credit insurers assess risks differently for each market. That is precisely why local knowledge is so important. A local ICBA partner knows the market, speaks the company’s language and has experience with local credit insurers and the local economic conditions. It is precisely this local expertise that you need when doing business internationally.
Responsible growth
As an entrepreneur, you’re constantly grappling with that one question: ‘How can I grow responsibly?’. That’s where the credit insurer comes in. Because you don’t just want a policy that covers losses; you want to know how to protect your international turnover, where you can grow responsibly, and which customers are creditworthy. ICBA offers trade credit insurance, as well as expertise in other areas. These include receivables financing and factoring, international debt collection, guarantees and sureties, and information and compliance. A local partner will help you assess a foreign debtor, find suitable credit insurance cover, manage international claims and identify solutions for financing and working capital. Everything you need to achieve responsible growth!