Why? Simple, your customers and suppliers may have an international group structure or link.
If a parent company is located in e.g. Germany, you are de facto doing business with a German organisation. Or maybe tthe owner or founder of your most loyal customer may, for example, be Italian.
Another good example: the parent company of your client is a French organisation. Let's assume for a moment that the parent company is in bad shape, this will have disastrous consequences for the subsidiaries. If you have not checked this, you have overlooked vital information and have therefore not been able to carry out a proper credit check (or credit risk assessment) on the company that you are doing business with.
By the way, have you ever examined your suppliers? A vital aspect for the continuity of your organisation! Not to forget, there is a huge amount of imports (& exports) by our Belgian companies. Belgium is the 13 biggest exporter in the world and the 14 biggest importer globally. More than 70% of imports and exports take place within Europe, amounting to over 340,000.0 million euros.