I want to protect my business against bad debts
The key questions you should be asking yourself in this situation are:
- Why did I not see that customer going bust on me?
- How can I protect the business against customers not paying?
- How can I improve our credit control process?
- I have credit insurance but my claim did not get paid, why?
- My funder insists on Debtor Protection with the invoice finance line, are there alternatives?
- Can I insure against a customer going bust on us?
- How can I get higher limits for my credit insurance policy?
- What are my real deliverable options under any of these circumstances?
There can be many reasons why a bad debt can occur whilst you're waiting for payment, or even worse, midstream in fulfilling an order after spending money to order goods in. Sometimes the worst bad debts cannot be seen until they happen. These are the hardest one to take as it is the bad debt that no one predicted or expected, even the credit insurers!
Working closely with FCA regulated specialist credit insurance professionals, Panoptic can ensure that you get the best independent help before shopping around for a credit insurance solution.
Taking a 100% independent stance, and working with you directly, Panoptic can make sure you have your “own house in order” before introducing any third parties to meet you. This will ensure you get the best deal from the credit insurance market as your systems will be improved to meet the exacting standards needed.
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Panoptic use their powerful Market Invitation Report, which somehow bridged the gap that exists between what we needed and what the bank wanted to lend, speed up the whole process and get the best deal for us. It's a simply brilliant idea and service.