All this is taking place against a background of unprecedented global turbulence created by the pandemic. The Covid-19 crisis has shown how interconnected our business activities are and how quickly problems can spread between partners and customers.
Financial monitoring of your own performance and that of your customers and partners will mitigate risks or distractions to your business. Dynamic monitoring is a necessary tool to identify weak links in your value chain.
As Nicolas Marchenoir, Head of Commercial Underwriting at Euler Hermes France says: “You can only be as good as your counterparties. If one or more has difficulty paying or supplying, so will you.” That is true for both partners and customers.