February 18, 2021
Watch the demo below on how Serai's solutions can help your business, and receive some special offers.
Kar-Lyn Tan | Product Lead, Risk Solutions | Serai Limited
A healthy cashflow and minimising the risk of financial losses is critical to business success. However, the risks take many forms and one of the most urgent is credit risk - which is the risk of your customer failing to pay invoices on-time or in full.
COVID-19 has further highlighted the importance of recognising and managing credit risk. 70% of apparel industry manufacturers experienced order cancellations when COVID-19 first emerged. Before the pandemic, more than 34% of listed fashion retailers in North America and Europe were displaying signs of distress. Now, over 80% of fashion companies are estimated to be negatively impacted by store closures of two months or more.
Common industry practices like long payment terms caused these events to crystallise into cash flow shortfalls and financial losses. Therefore, many companies have realised that continued exposure to such risk is not part of a sustainable business plan. Serai's customers can now access various solutions to help them assess the financial health and creditworthiness of their buyers or suppliers.
Our solutions are offered in partnership with leading experts in trade credit insurance and data analytics such as Euler Hermes, Coface and Dun & Bradstreet.