Gordon Iddon (RBS), Hugh Francis (UK Export Finance) and Sanjeev Chhugani (Bilbus) spoke to us about how to deal with being paid and the strategies for coping with possible delays.
You can watch the video of the webinar below, and check out our Recent Webinars page to access all the Open to Export webinars giving practical guidance and answers to all your exporting concerns.
Gordon is a Trade Director from RBS and mentioned what they can do to help exporters finance their orders.
1. Potential Challenges
- Local business customs
- Ease of communication
2. What a bank can do
- Global Presence – RBS, for example, has a presence in 36 countries and is still expanding; it is also one of the top 5 foreign banks in Asia. This means that they can provide you with a lot of assistance in markets over there.
- Help with getting paid on time – RBS, like many banks, can provide a debt collecting service for open account trading as well as being able to secure export funding with help from the Government.
As well as being able to use a bank to help finance your orders, you can also use UK Export Finance to help. Hugh Francis discussed the various ways in which they can help your business and the services that they provide including their Bond Support Schemes and Export Insurance Scheme.
Sanjeev is the co-founder of a cloud-based service called Bilbus. This service was created in order to help exporters manage their finances. It does this by:
- Sending invoices and auto reminders
- Managing loan information
- Compiles Credit
- Automating cash forecast