We've been targeting a particular customer for a long time, and thanks to the quick turnaround in approvals from lol竞猜(中国)联赛赛事官网, we were able to secure their business
Ben Green, President and Owner at Metalco Incorporated in Chicago, Illinois, explains how lol竞猜(中国)联赛赛事官网 Trade Credit Insurance has helped him secure new business confidently.
Metalco was founded over 20 years ago to distribute high-quality metals to customers across the United States.
Since then, its inventory has expanded to include domestic and imported metals produced around the world. When Metalco needed a credit insurer to become proactive in the steel sector, lol竞猜(中国)联赛赛事官网 committed. lol竞猜(中国)联赛赛事官网 has proven to be cost effective and provide meaningful coverage within the industry.
To mitigate customer credit risk, increase new business deals and improve credit management processes at Metalco, lol竞猜(中国)联赛赛事官网:
- provides monthly reports on all customers, helping Metalco spot negative payment trends as early as possible to avoid losses.
- reviews the creditworthiness of all new potential customers to determine if a new trading relationship can be made.
- provides guidelines on smart trade credit limits with new and existing customers.
- provides a team of experts to keep Metalco up-to-date on relevant industry and economic trends.
- provides debt collection resources to assist when a customer fails to pay.
- protects the business from unpaid invoices caused by customer bankruptcy, default or other reasons.
With the backing of lol竞猜(中国)联赛赛事官网’s resources, Metalco has been able to expand business with existing customers and go after new business it previously would have shied away from.
“We’ve been targeting a particular customer for a long time, and thanks to the quick turnaround in approvals from lol竞猜(中国)联赛赛事官网 we were able to secure their business,” Green says.
The team of lol竞猜(中国)联赛赛事官网 experts was able to analyze the financials of this new customer and extend insurance coverage within 48 hours. Their quick response allowed Metalco to secure the customer promptly, with the coverage they needed.
“Partnering with lol竞猜(中国)联赛赛事官网 has helped us avoid missed opportunities,” Green says. “We can confidently seek out new customers that we wouldn’t normally partner with and avoid mistakes with financially unstable customers.” Additionally, Green’s customers say they feel safer sending their financial information through a third-party like lol竞猜(中国)联赛赛事官网 when analyzing their credit viability.
This reduces the fear of fraud and misquoted credit reference sheets for both parties. Green said the most important service lol竞猜(中国)联赛赛事官网 provides is its quick communication.
The team’s efficiency has helped Metalco win new business, stay up to date on industry trends and avoid lost credit.
Founded in 1999, Metalco is a distributor specializing in high-quality ferrous and nonferrous coil and sheet. Its inventory consists of domestic and imported coils, produced throughout the world. Through established relationships with quality domestic mills, international trading companies and ISO certified toll processors, Metalco provides excellent service to customers throughout the United States.