How companies can expand business activities

Risk mitigation & innovation strategies

An increasingly complex business environment requires the right risk mitigation strategies, innovative solutions and standardized systems, in order to achieve growth.

However, before venturing into new sectors and expanding sales activities, due diligence is required. This includes credit information and background checks on new buyers, debt collection procedures, credit management procedures and supporting digital solutions to streamline activities.

As SME specialists, LCI works closely with corporate clients to enhance trade receivables management, optimize business performance and mitigate risks.

The suite of services include:

Trade Inform

Credit information and risk management services

Trade Inform helps corporates and businesses make well-informed decisions, by providing them extensive background information on buyers. The team of data analysts gather and process the needed data on tens of thousands of companies and validate missing information, to create a comprehensive database for corporates.

The services include:

Credit information reports

  • Basic Reports: Providing general information about any given company
  • Detailed Reports:
    • Providing general information about the company
    • Legal background
    • Sanctions
    • Associated companies
    • Financial information
    • Information about the shareholders (history, related businesses, legal background, and estimated / approximate personal net worth)
    • Photos of the company premises
    • In-depth analysis of the information provided
    • Banks’ feedback about the company (facilities, history and performance)
    • Suppliers’ feedback about the company (facilities, history and performance)
    • And a detailed credit opinion

KYC (Know Your Customer)

  • General information about the company
  • Legal background for any civil or criminal records
  • Sanction feedback

Submit your company’s full details and financials and benefit from a free detailed credit information report.

Trade Collect

Debt Collection services

Various geopolitical, economic and financial risks can have a direct impact on whether buyers will settle their dues or not. Additional risks arise, if buyers are facing financial difficulties or partake in fraudulent activities. The primary step when selling to new buyers is to conduct the needed due diligence and be wary of any red flags in past credit history or fraud. For existent buyers, setting clear payment terms, invoicing procedures and timely receivables collection processes is integral.

However, in cases of late or non-payment, Trade Collect, a specialized service from LCI, provides debt management and collection services, in order to collect bad debt and settle any pending payments after they default.

Trade Collect is a full process to collect client’s bad debts, adaptable to local and international cases. It includes:

  • Recovery Management
  • Verbal Negotiations
  • Drawing Up Repayment Plans
  • Final Demands
  • Dunning Letters
  • Solicitor’s Letters
  • Legal Action

Trade Advise

Trade Credit Advisory

Trade Advise provides corporates with a series of outsourced consultancy, to identify, mitigate and manage any trade credit risks and credit insurance-related products. The services include:

Outsourced Services, covering:

  • Risk Management
  • Credit Risk Assessment
  • Bad Debt Collection

Consultancy Services

  • Business Model Review
  • Training for team members on products and services
  • Establishment of credit management procedures

IT Services

  • Customer Online Portal EYERIS™, to track the various buyers, including credit activity and receivables management

How Trade Ready are you? Click here to find out.

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