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05/27/2014
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Coface pursues its strategy of innovation, expanding its CofaNet online offer with Policy Master and Cash Master

Coface pursues its strategy of innovation, expanding its CofaNet online offer with Policy Master and Cash Master
With these two complementary offers, Coface facilitates credit management teams’ risk management and access to financing.

Complementary and fully interfaced with CofaNet[1] , Policy Master and Cash Master have been designed to simplify clients' daily management of credit insurance cover, and making this more reliable. The services offered online help companies to secure and to optimise management of their policies by reducing operational risk. Companies gain credibility, in particular with banks, and so can obtain better financing conditions.

  • CofaNet Policy Master provides the company with a real vision of its exposure to buyer-related risks. The tool evaluates the actual outstanding amount per buyer from accounting data and compares it to the amount granted by Coface. Suitable actions are then proposed to the client, such as preparation of the turnover declaration and alerts to notify the client of when any set limits are exceeded or to inform the company of approaching deadlines for the declaration of overdue accounts. The company can then better understand the trade risk and increase its longevity by concentrating on solvent and robust buyers.
  • CofaNet Cash Master supplements this first module. Thanks to a secured certificate of cover generated by Cash Master, the company’s financial partners receive accurate information on the quality of buyers and the breakdown of covered invoices. Optimised coverage, combined with fully reliable management of the credit insurance policy, is a very sound basis for seeking financing through the banking networks.

As both tools are designed and hosted by Coface, the accounting information provided by corporate clients remains fully confidential.

The launch of the two offers begins with Spain, where companies, still vulnerable in the initial stages of recovery (the number of bankruptcies further increased in 2013, up 10.4%[2] ), have a real need for this type of offer. Global roll-out is planned to start in June.

 

[1] CofaNet: online platform for managing Coface credit insurance policies
[2] Source: INE

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