Euler Hermes, the French and global market leader in credit insurance, and UBIFRANCE, the French agency for international business development, signed a partnership agreement on July 22, 2013 to pool their respective expertise on behalf of French companies abroad.
To simplify company export procedures, address the challenges they face with respect to commercial risk and maximize their chances for international success, the agreement revolves around two main areas:
- A dedicated collection service
- Promotion of the respective international support services of Euler Hermes and UBIFRANCE
Christophe Lecourtier, chief executive officer of UBIFRANCE, and Nicolas Delzant,
chairman of the Board of Management of Euler Hermes France – Photo credit : ©Jogood
“This partnership, which is based on synergies between private and public sector entities, represents a major step forward in our strategy of supporting companies internationally,” notes Nicolas Delzant, chairman of the Board of Management of Euler Hermes France. “To help companies overcome the risk/reward challenges of exporting, this agreement specifically includes the creation of a
dedicated to UBIFRANCE customers.” According to the most recent Euler Hermes export barometer*, the risk of non-payment on trade receivables constitutes the main impediment to exports, with one in two companies concerned that their customers will not be able to meet their commitments. Companies can now take advantage of the strength and responsiveness of Euler Hermes’ international network, present in more than 50 countries, and its detailed knowledge of their customers in order to secure their commercial transactions (40 million companies monitored worldwide and 1.6 billion receivables assigned for collection).
“Collection of unpaid invoices outside of France is a key issue in order to ensure the sustainability of French company exports,” says Christophe Lecourtier, chief executive officer of UBIFRANCE. “By teaming up with Euler Hermes’ dedicated collection service, UBIFRANCE further enhances the services offered to its own customers. We are very proud of this public/private partnership between UBIFRANCE and Euler Hermes on behalf of companies, and in particular small- and medium-sized businesses”. Companies are increasingly looking for collection services abroad. That is particularly true in the case of small- and medium-sized businesses, which have to contend with delayed payments and increasingly tight cash positions. Working on behalf of its customers, Euler Hermes initiates amicable and legal collection proceedings most suited to the target country, applicable legislation and transactions executed while defending its customers’ interests by pressing their rights.
Along with the tailored collection service, the agreement also calls for promoting the respective services of Euler Hermes and UBIFRANCE. The two companies will sponsor joint events focused on international matters, notably those involving financing and market penetration strategies for new high-potential markets.
*Survey of 938 companies conducted by Euler Hermes France’s 23 regional delegations – December 2012