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Use ICON Credit Risk Monitoring Tool to Avoid Credit Risks

avoid credit risk

Late payment or unpaid invoices are an inevitable part of any business. The first step to avoid the probability of default begins with understanding the financial situation of your customer. Knowing your customer, its company details, financial stability, payment behavior, credit history, etc. will help you to avoid bad deals and reduce credit risks.

ICON, a new business intelligence platform developed by Coface designed to help businesses assess debtors' and suppliers' financial situation. With our diligent and experienced team of economists and risk underwriters, we provide accurate market risk assessment thereby helping businesses make better-informed decisions. Understanding and evaluating the financial strength and payment capability of a new customer before starting a business is important.

However, not every company has the expertise and resources to monitor the financial stability of every customer, supplier, and trading partner. With our strong credit risk-managing tool, you not only mitigate economic risk but also have a competitive advantage over your competitors and also improve your business decision-making. Under ICON online platform, we evaluate 200 million companies around the world, identify a potential threat, and anticipate payment behavior.


1. Business Reports – Coface Business Report helps you in determining a company's profitability, financial stability, and payment performance. It gives you comprehensive and in-depth information about your business partners. With Coface insights, you can get access to key financial information about your suppliers and debtors. It provides extensive financial data for deeper analysis of a company. Combined with the unique Coface Insurance payment experience, a business report is a perfect product for your credit and risk management.


2. Debtor Risk Assessment – For a regular review of existing customers, ‘Debtor Risk Assessment’ is a good option. A score reflecting the probability of payment default of a company in the next 12 months or a company's capacity to meet its short-term financial commitment. The assessment score is based on the analysis of the latest country risk, sector risk, company financial performance, payment experience, historical trend, and the credit insurer’s globally linked payment data. With this product, you can easily find out the level of risk associated with a business. It predicts the likelihood of the business having difficulty in surviving as a trading entity.


3. Credit Opinion - Payment defaults and delivery issues can cause severe damage to your business. However, with Coface Credit Opinion you can avoid such issues and act ahead of events. We evaluate your trade risk worldwide, provide the right business information about your debtors and help you avoid the stress of making wrong credit decisions. Coface credit opinion contains credit risk evaluation of companies, a DRA scores assessing the probability of default of a company, credit recommendation, and many more.  We use our credit opinion to guide our credit insurance options. If it is wrong, we pay our insured customers. Therefore, Coface's Global Underwriting Expertise can help you to forecast credit risks and potential customer defaults.


4. Account Monitoring Service – Monitoring your business partners can be hard and difficult, especially when they are located overseas. By using the Coface Monitoring services, you shall closely track your business partners with agility and improve your decision-making. From our Credit Insurance activity, we identify and track for you key information to minimize credit risks. Whatever your business sector, at Coface we provide advice and guidance so that you can manage your main risks effectively and achieve your strategic objectives. Therefore, if you wish to monitor a list of companies or adapt the monitoring services to your individual business needs, Coface is the right choice.


5. Portfolio Management – With Portfolio Management, Coface provides its customers the foresight to identify potential risks of companies and make insightful decisions. High-quality insights developed by Coface’s experts compile all the information you need for credit risk management. Be the first to know of risk exposure changes through Coface's network of monitoring for that peace of mind, as it works behind the scene to keep track of key changes to companies on your portfolio.


6. Economic Insights – As the underlying business operation factors shift and the new paradigm set it, enterprises around the world are working hard on reestablishing their trade network to ensure sustainability amidst supply chain interruptions, labor restrictions, and a spike in cessation and closure resulting from cash flow challenges. As countries, start reopening, economic recovery stays uneven, with some sectors pulling ahead of others. To cater to these new factors, fresh alternate data is required to understand how the evolvement is going to shape in the next 1-2 years. Economic Insights, an interactive platform with at-a-glance insights to give you access to our high-quality, key quantitative, and quality assessments. We combine rigorous economics and trade risk skills to help you make informed decisions in a changing environment. Therefore, the unique data provided by our economists help you to understand what is happening on different sectors, and the performance of different types, companies with both domestic and international business. WithCoface Economic Insights, you can save time and money on country and sectors research and make informed decisions on strategic investments.


The ICON Advantage

In today’s competitive market, you must continue to monitor the risk profile of your client and, at the same time, pursue opportunities to develop and expand your business. With the ICONcredit management tool, you can access it anytime to consult the creditworthiness of new or existing customers.  Our vast information network delivers essential real-time insights, whenever you need them. It is an essential solution to help you navigate unknown risks. With ICON, you can therefore assess credit risk with confidence and consistency.  To learn more on how we can work together to reduce your credit risks: Visit our website: Visit us at : or call at +64 (0)9 391 3348



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