Nuvias Group is a high-value distribution business, who are redefining international, specialist distribution in IT. The group has 21 regional offices across the globe and their current portfolio covers a comprehensive range of IT solutions including Cyber Security, Advanced Networking and Unified Communications.
Providing value distribution in the IT channel, Nuvias needed to ensure that every partner and vendor is financially secure before enabling access to their platform. In order to support their global operation and meet the needs of their credit insurer, Nuvias required a new provider of commercial credit information who could help with evaluating international enquiries, as well as provide confidence that every business opportunity is likely to meet their agreed terms.
Working with a provider whose international coverage was endorsed by their credit insurer was critical. In recent years, credit insurers have stepped up their financial monitoring and introduced closer risk management practices, particularly with non-European companies. Discussing why Nuvias needed to switch from their existing supplier, Group Credit Manager, Elisabetta Angioni, said:
“It’s essential that we know exactly who we are working with, especially in these economically turbulent times. Our previous provider was not endorsed by our credit insurer and if we put forward a proposal for a partner or vendor with a low credit score, it probably wouldn't get approved.”
Our previous provider was not endorsed by our credit insurer and if we put forward a proposal for a partner or vendor with a low credit score, it probably wouldn't get approved
Elisabetta Angioni,
Group Credit Manager, Nuvias
Elisabetta and the credit control team at Nuvias now use Creditsafe to run the necessary checks and are able to onboard new partners and vendors wherever they are based in the world. Elisabetta explains: “We chose to switch to Creditsafe as it provides us with comprehensive information about any business globally and it is straightforward to use. They are also a preferred supplier from our credit insurer, which gave the team peace of mind if we needed to escalate a claim.”
In today’s highly competitive, unpredictable and ever-changing post COVID-19 market, avoiding any involvement with bad debt is key to future success. By running due diligence checks on every client at the start of the relationship, it can help companies to confidently offer credit and avoid putting forward any risky proposals which might not get accepted by a credit insurer.
Elisabetta concluded: “When we get a new business enquiry, we always pull a company credit report to get a full picture of the financial health of a business. Using a provider that is recommended by our credit insurer has allowed us to approve more customers and ultimately help reduce the amount of wasted time by not sending accounts that won't get approved. Our team now use Creditsafe daily to check the full credit history of a business and to make an informed decision on whether to work with them or not”.
Using a provider that is recommended by our credit insurer has allowed us to approve more customers and ultimately help reduce the amount of wasted time.
Elisabetta Angioni,
Group Credit Manager, Nuvias