Caught up in an extended decline in the lumber industry sparked by the Great Recession, Specialty Forest Products suffered a significant customer loss and bad debt increase. Trade credit insurance helped jump-start its recovery.
Faced with the often unpredictable business challenges presented by globalization, changing consumer behavior, and key demographic shifts, Del Campo Premium, Inc. added credit insurance to its risk management strategy to proactively mitigate risk as it grows its top line.
Faced with regular market fluctuations, lumber companies need to be particularly vigilant about the potential risks within their client bases. As the foundation of its proactive risk management approach, Weston Forest Products uses credit insurance to accurately monitor its customers’ financial health and protect its business against bad debt.
Managing international business risks and checking customers’ credit became a hassle and slowed Fall Creek’s operations. By leveraging credit insurance and a more effective and faster credit management process, Fall Creek has been able to expand its market share around the world.
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