It’s estimated that around 95% of trade is currently done without invoice protection. That’s a lot of money to potentially not get paid if insolvency or protracted default were to effect one of your clients. Furthermore, by executing effective risk management by investing in invoice insurance like big business does, your business will be seen to be exercising proper corporate governance. This is often sought by external players such as investors, banks and rating agencies and will help to secure borrowing in future.
The collapse of some high profile organisations over the last year has begged the question of what lessons smaller businesses can learn from big companies folding, particularly when it comes to insurance and payouts.
However, until now, insurance policies for smaller scale yet dynamic businesses haven’t seemed to fit properly. We’ve designed our invoice insurance with the end user (yes, that’s you) at the forefront of our product design process.
Our team at InvoiceInsure offers tailored cover for smaller, fast growing and ambitious businesses, taking the best bits from how bigger companies operate and scaling it down to fit your firm. Our invoice insurance works with smaller scale business at its heart, trumping what was previously on the market. Quotes are available at the click of a button and you can pay with affordable monthly instalments instead of unworkable lump sums. Instead of having to purchase expensive and inflexible policies that only really apply to how larger corporations are run, or self-insuring by putting funds aside in case of unpaid invoices, ambitious businesses seeking security can now look to us for their invoice insurance needs.
Whilst bigger businesses probably have an in-house team taking care of insurance and late payments due to client insolvency and protracted defaults, our online process enables smaller scale companies to benefit from buying and implementing invoice insurance policies at an equally efficient pace.
We’re proud to be part of the technological wave currently rippling through the wider industry that will benefit businesses who punch above their weight, allowing them to run more dynamically and focus attention on business needs instead of late payments.
A last but not least lesson to be garnered from big business is not to opt for single invoice insurance. Large corporations make sure to insure all their activity, not only the contracts they deem most risky – a tack often used by smaller and medium enterprises with the current insurance options available. With InvoiceInsure cover, all of your activity is protected and so even unexpected commercial risks won’t take you by surprise.
These valuable lessons from big business have informed our team who have created flexible cover that suits your business needs. We’d be delighted if you get an invoice insurance quote for by clicking the link below – it’s a simple process and won’t take long.