December 15, 2020
Serai Limited, an online B2B platform aimed at facilitating international trade, launches a strategic partnership with global credit insurance company Coface, to make trade credit risk information more accessible to its customers.
Serai enables apparel suppliers and manufacturers to connect with buyers and brands worldwide. Coface is a leader in the field of trade credit insurance and risk management with over 4,200 experts across more than 100 countries.
With this partnership, businesses on Serai’s platform can access a range of credit risk information and monitoring services. The outbreak of COVID-19, which has significantly disrupted supply chains worldwide, has forced industries that traditionally depend on face to face interaction, such as apparel, to find new ways to do business digitally.
Risk management has become of utmost importance during this time. These services will help businesses of all sizes make informed decisions by enabling them to identify, assess, control and monitor counterparty risk, and ultimately mitigate risk to their own business.
“This partnership with Coface is a logical and strategic move to bring more value to Serai’s customers. It’s vital for businesses, regardless of size, to know and understand the financial situation of potential or existing business partners. Any delays or issues with their customers’ ability to repay, for instance, will impact their cash flow. That same business could also be interested in the financial health of its suppliers in case it impacts their ability to deliver and perform,” said Vivek Ramachandran, Chief Executive Officer, Serai.
“We are ‘for trade,’ meaning we’re committed to providing services that strengthen the ability of corporations to sell on their domestic and export markets. This partnership with Serai illustrates Coface Asia Pacific's ambition to develop new digital distribution channels. We are working together on combining our business ecosystems and expertise to guide companies through the complexity of global trade,” said Hugh Burke, Chief Commercial Officer, Coface Asia Pacific.
Risk management usually involves four steps: identifying risk, assessing the risk, deciding to control the risk, and continuously monitoring for existing risks or the emergence of new risks. With the different types of solutions that Coface offers through Serai, customers can do just that:
To celebrate the partnership, Coface is offering special promotions: the first 10 companies who sign up with Coface will be eligible for free Debtor Risk Assessment scores on up to five of their trading partners. Companies can get up to a 55% discount on Coface Business Credit Reports. Additionally, businesses that sign up to a subscription package with Coface, get up to 15% of extra top-up points for free. These promotions are valid until the end of 2020.