Welcome to the June 2022 issue of Credit Management News Digest. This issue is sponsored by SCHUMANN.

PLUS: The value of certainty  By Mike Holley, Strategic Advisor at SCHUMANN
UK: Late Payment & Insolvencies
UK SMEs suffer as the late payment problem gets worse. New research from Premium Credit shows SMEs are suffering as late payment of their invoices has become a bigger issue in the past 12 months. 24% of UK SME owners and managers say delays in payment of invoices have worsened in the past year, with 5% saying it has become much worse. Just 3% of SMEs say issues with late payment have improved in the past year, while 55% say there has been no change. Premium Credit's Insurance Index, which monitors insurance buying and how it is financed, also shows that 13% of SMEs have found it harder to secure credit since the COVID-19 pandemic started. That has prompted a switch in how some firms pay for insurance — around 12% say they now pay for all insurance monthly rather than in one lump sum as they did previously. To read Premium Credit's news release go to https://www.premiumcredit.com/news-and-events/smes-suffer-as-late-payment-problem-gets-worse.
Six in ten UK businesses are impacted by late payment. New findings from the FSB's Small Business Index (SBI) show that 61% of small firms were impacted by late payment of invoices over Q1 2022, and a quarter (26%) say the propensity for late payment is growing. 7% of UK SMEs experienced late payment for the first time in Q1 of this year. The SBI also found that 9% of UK small firms applied for finance in Q1 2022 — the lowest proportion since SBI records began, with the share that saw applications approved (43%) also at a record low. Of the firms that did manage to secure finance, 42% plan to use credit to manage cashflow. In addition, one in ten (11%) small UK firms plan to close, sell or downsize their business over the coming year — equating to more than half a million businesses. To read the FSB's news release go to https://www.fsb.org.uk/resources-page/lending-to-small-businesses-hits-all-time-low-new-study-finds-with-six-in-ten-impacted-by-late-payment.html.
Smaller businesses are less likely to take legal action over late payment than their larger counterparts. According to new research from Barclays, 26% of UK SMEs have seen the number of late payments they receive increase since the cost of living has gone up, with 16% admitting that they are finding it more difficult to pay suppliers themselves. Although a third of businesses (39%) said that they had involved solicitors or taken legal action to reclaim late payments, this is less common among smaller firms; only 31% with turnover less than £2 million reported that they had taken legal action compared to 51% of with turnovers above £2 million. Although businesses can claim late payment interest and compensation if a payment deadline is missed, only 16% had done so — 26% were unaware that this was an option. To read Barclays' news release go to https://home.barclays/news/press-releases/2022/05/over-a-quarter-of-uk-businesses-are-being-hit-by-more-late-payme/.
Creditors' voluntary liquidations have more than doubled since April 2021. The latest data from the UK's Insolvency Service has found that UK corporate insolvencies decreased by 6% in April 2022 (to 1,991 compared to March's total of 2,119) but increased by 115.2% compared to April 2021's figure of 925. The significant year-on-year rise in corporate insolvencies has been driven by a doubling to the number of creditors' voluntary liquidation since April 2021. Christina Fitzgerald, President of R3, commented: "This highlights the role the Government's support initiatives played in preventing the economic damage of the pandemic from translating into an increase in corporate insolvencies. It also suggests that large numbers of directors lack confidence in their ability to continue trading in the current climate and are choosing to close their businesses now rather than being forced to in the future." To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31231/page/1//.
The UK looks set to see a sharp rise in business insolvencies in 2022. Allianz Trade's latest Insolvency Report 2022 has predicted that, in contrast to the artificially low levels recorded in 2020, UK business insolvencies will increase by 37% in 2022 (to 22,305 cases) and overtake 2019 levels by the end of this year. This will mean that the UK will become the first major European economy to reach pre-pandemic levels of corporate insolvencies. In comparison, state support will continue to keep insolvencies artificially low in France and Germany. In addition, according to Allianz Trade's research, the UK has a high number of fragile firms (17% compared to 12% in France and 6% in Germany). To read Allianz Trade's news release with a link to the full report go to https://www.allianz-trade.com/en_global/news-insights/news/insolvency-report-2022.html.
UK Economy
How does the UK economy compare to 1952? Ahead of the Platinum Jubilee celebrations in the UK, PwC looked at some key economic indicators to see how the UK economy today compares to 1952, when Queen Elizabeth II was crowned. Jake Finney, Economist at PwC, commented: "Some things don't change. CPI inflation was at 11.2% during the Queen's accession in February 1952, 2.2% higher than the 9.0% recorded in April 2022. In the 1950s it was the Korean war that sent commodity prices spiralling, while today it is war in Ukraine that has had the same effect. We expect that it will take around three years in total for inflation to return to target, which is a similar length to the inflationary episode of the early 1950s when the Queen took the throne." To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/pwc-comments-platinum-jubilee-then-and-now.html.
UK GDP in Q1 was 0.7% above its pre-pandemic peak. The House of Commons Library has released an Economic Indicators paper that notes that the UK's quarterly growth of 0.8% in Q1 2022 compares favourably with both the Eurozone and US — which saw growth of 0.3% and -0.4%, respectively. The paper also notes that compared to its pre-pandemic peak, UK GDP in Q1 2022 was up by 0.7%, compared to 0.5% higher in the Eurozone, 0.3% for France, and negative growth in Italy and Japan. However, in the G7, both the US and Canada surpassed the UK's recovery — Canada by 0.8% and the US by a substantial 2.8% above pre-pandemic figures. For 2021 as a whole, UK GDP growth was 7.4% — the highest in the G7. However, as the UK had the largest decline in GDP among the G7 in 2020 (-9.3%), its relatively strong performance in 2021 was, to some degree, a recovery from weakness in 2020. To read the House of Commons Library's publication go to https://commonslibrary.parliament.uk/research-briefings/sn02784/.
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The UK economy shrank by 0.1% in March. The latest figures released by the Office for National Statistics (ONS) estimate that UK GDP increased by 0.8% in Q1 2022 and 8.7% compared with Q1 2021. In output terms, services increased by 0.4%, with the largest contributors from information and communication, accommodation and food, and transportation and storage industries, while there was a decline in wholesale and retail. Overall, the level of quarterly GDP in Q1 2022 was 0.7% above its pre-COVID level of Q4 2019. On a monthly basis, while the ONS' estimates indicate that GDP rose by 0.7% in January, there was no growth in February 2022 and a fall of 0.1% in March 2022. To read the ONS' news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/januarytomarch2022.
Buffeted by an exceptional sequence of shocks: the medium-term outlook for GDP growth is slow — even by the standards of recent history. The National Institute of Social and Economic Research's (NIESR) latest Economic Outlook for the UK has advised that the Office for National Statistics' monthly GDP data for March was slightly weaker than it had predicted in April, falling by 0.1%, rather than growing by 0.1% month-on-month, and bringing 'recession closer'. NIESR now expects UK GDP to increase by 3.5% in 2022 — declining in the third and fourth quarter — followed by growth of 0.8% in 2023 and 0.9% in 2024. CPI inflation is forecast to peak at 8.3% in the fourth quarter. NIESR advises that the medium-term outlook for GDP growth is slow even by the standards of recent history, returning to 1.5% only in 2026. To read NIESR's news release go to https://www.niesr.ac.uk/publications/sailing-treacherous-seas?type=uk-economic-outlook.
Profitability on a knife-edge: 2.1 million UK SMEs are 'just about breaking even'. Despite increasing sales and plans to invest, a new report from Bibby Financial Services (BFS) finds that UK SMEs face a myriad of challenges that threaten to impact the UK’s economic recovery.  According to the research, profitability is on a knife-edge, with 38% of UK SMEs — equivalent to 2.1 million businesses — now describing themselves as 'just about breaking even, and only 52% describing themselves as profitable. One in ten (9%) — equivalent to more than 500,000 SMEs — say they are operating at a loss.  The research also found that more than a quarter of UK businesses (26%) highlighted cashflow as a concern, with 9% reporting that they don’t even have the cashflow they need to operate on a day-to-day basis. To read BFS's news release go to https://www.bibbyfinancialservices.com/about-us/news-and-insights/news/2022/profitability-on-a-knife-edge.
UK Trade Sectors & Exports
UK small business growth forecasts hit a two-year high. New quarterly data from Novuna Business Finance has found that 37% of small business owners in the UK predict growth for the next three months — the highest figure since the pandemic started. The data also reveals that, despite inflation rising to its highest level in 30 years and the impact of war in Ukraine on fuel prices, the percentage of small businesses predicting contraction has hit a two-year low (7%). Small business owners that had been forced to repurpose their enterprise during lockdown are now most likely to be recovering, with 41% of these business owners predicting growth for the next three months — a steep rise from 27% last quarter. Enterprises that had been forced to close during lockdown are also now bouncing back, with the proportion predicting growth up to 28% (rising from 20% last quarter). To read Novuna's news release go to https://www.novuna.co.uk/news-and-insights/business-finance/small-business-growth-forecasts-hit-two-year-high/.
The UK leads the way in High Street recovery compared to its G7 country counterparts. According to BRC-Sensormatic IQ data, total UK footfall in May increased by 0.6% compared to April. This was better than the 3-month average decline of 13.7%, and ahead of comparative data for Italy, Germany and France.  Andy Sumpter, Retail Consultant EMEA for Sensormatic Solutions, commented: "Total retail footfall across the UK continued a slow but steady recovery against pre-pandemic levels, edging up to its strongest point since the start of the year when compared to 2019 in May, with the UK continuing to lead the way in the High Street recovery compared to its G7 country counterparts. However, with households already starting to feel the pinch of the rising cost-of-living and growing inflationary pressures, retailers will be hoping that cracks don't start to appear in the footfall recovery." To read BRC's news release go to https://brc.org.uk/news/corporate-affairs/footfall-up-but-risks-remain/.
UK retail sales increased in April, but the overall picture remains poor. According to the latest data from the Office For National Statistics (ONS), UK retail sales volumes rose by 1.4% in April 2022, following a fall of 1.2% in March 2022 (revised from a fall of 1.4%), and sales volumes were 4.1% above their COVID-19 levels in February 2020. However, more broadly, in the three months to April 2022, sales volumes fell by 0.3% compared with the previous three months — continuing the downward trend seen since Summer 2021. Lisa Hooker, consumer markets leader at PwC, said: "Retail sales appeared to confound expectations in April, rising by 1.4% in volume terms compared to March, and reversing the decline we saw last month. However, virtually all of this growth was concentrated in grocery stores, which benefited from alcohol and confectionery sales reflecting the later Easter and good weather; as well as online, which saw some recovery from March's post-pandemic low." To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/pwc-comments-on-april-2022-ons-retail-sales-figures.html.
UK manufacturing output growth accelerates, but confidence falls further. According to the CBI's latest monthly Industrial Trends Survey (sponsored by Accenture), UK manufacturing output grew at its fastest pace in ten months over the quarter to May (balance of +30 from +19% in the three months to April). Although output growth is expected to ease in the three months to July (+23%), the CBI expects that the pace of expansion will remain comfortably above the long-term average (+9). Anna Leach, CBI Deputy Chief Economist, said: "Manufacturers have reported output growth and order books improving in May. But cost pressures remain acute and are pushing manufacturers to raise prices. Sentiment among manufacturers has fallen in recent months as the outlook has deteriorated following Russia's invasion of Ukraine, and investment plans are being scaled back." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/manufacturing-output-growth-accelerates-but-confidence-falls-further-cbi-monthly-industrial-trends-survey-sponsored-by-accenture/.
UK food and drink trade exports surpass pre-pandemic levels. According to the latest Trade Snapshot from the Food and Drink Federation (FDF), 2022 has seen a strong return to export growth, with sales of £5.3 billion in Q1 — a rise of nearly 31%. In addition, exports to non-EU markets reached a record £2.3 billion, the highest value recorded in Q1 — soaring above pre-pandemic levels for the first time. Exports to major markets, including the US, Australia, Canada, Japan and the UAE, all exceeded pre-pandemic levels, with exports to Canada seeing particularly strong growth, rising to nearly £100 million — up 26% on pre-pandemic levels. Exports to India also increased by more than 20% compared to pre-pandemic levels, reaching £57 million. All but one of the UK's top 10 products saw growth since 2021, with many above pre-pandemic levels. To read the FDF's news release go to https://www.fdf.org.uk/fdf/news-media/press-releases/2022-press-releases/uk-trade-tops-pre-pandemic-levels/.
UK private sector activity is expected to flatline over next the three months. According to the CBI's latest Growth Indicator, UK private sector activity is expected to be broadly flat in the three months to August, marking the lowest expectations for private sector growth since February 2021. Although manufacturing output growth is expected to remain solid, business and professional services activity and distribution sales are expected to be broadly flat, while consumer services activity is expected to fall (by -23%). The CBI also reported that a supplementary question this month asked what actions businesses were taking to strengthen supply chain resilience in response to ongoing global supply disruption. The most common response was holding higher levels of inventories temporarily. The second most cited option was to diversify supply chains. To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/private-sector-activity-expected-to-flatline-over-next-three-months-cbi-growth-indicator/.
Brexit and Ukraine dent UK exporters' optimism. According to Allianz Trade, a cocktail of uncertainty caused by 'long Brexit', the Ukraine invasion, and disrupted supply chains has left UK exporters the least optimistic in Europe. 60% of UK exporters expect geopolitical concerns to become more challenging in 2022 — higher than the share in France (40%), Germany (44%) and Italy (58%). The research also showed that 11% UK exporters were already worried about export turnover declining before the invasion started, but this has now risen to one in five (19%) UK exporters. Nearly half of UK exporters (47%) now expect longer payment terms, compared to just one in four (22%) pre-invasion. Conversely, the number of exporters expecting payment terms to remain stable this year has plummeted to 48% of respondents compared to 72% pre-invasion. Click here to read Allianz Trade's news release.
Volatile supply chains pressure the UK mid-market. Grant Thornton UK's latest Business Outlook Tracker research, which looks specifically at leaders of businesses with a supply chain, shows that 52% are finding it harder to operate their business today, compared to 12 months ago. To manage cost pressures, 61% of respondents said that their suppliers have agreed to more flexible (longer) payment terms, and 55% said increasing costs in their supply chain are being passed onto their customers through higher prices. 42% of the respondents had already increased their prices, with a further 51% planning or expecting to raise prices this year. To read Grant Thornton's news release go to https://www.grantthornton.co.uk/news-centre/volatile-supply-chains-pressure-mid-market/.
Global Economy
Atradius forecasts relatively robust global growth over the next two years, but expects growth in the eurozone to cool. In its latest Economic Outlook, Atradius highlights that global recovery from the impact of the pandemic has been thwarted by the Russia-Ukraine conflict. However, although its predictions for global growth have been downwardly revised by 0.7% in 2022 and 0.4% in 2023, Atradius nonetheless forecasts relatively robust global growth overall (albeit subject to a high level of uncertainty) over the next two years at 3.4% in 2022 and 3.2% in 2023. However, in some advanced markets, Atradius reports that high inflation, supply chain pressures and Russia-Ukraine are slowing growth, with growth in the eurozone expected to cool significantly in 2022. Atradius notes there were already some price pressures before conflict broke out in Ukraine, but the war has exacerbated the trend, and inflation is building up rapidly. Click here to read Atradius' news release.
Global growth is expected to slump from 5.7% in 2021 to 2.9% in 2022. The World Bank's latest Global Economic Prospects report warns that the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of weak growth and elevated inflation. Global growth is now expected to slump from 5.7% in 2021 to 2.9% in 2022 — significantly lower than the 4.1% anticipated in January — and is expected to hover around that pace over 2023-24. Growth in advanced economies is projected to sharply decelerate from 5.1% in 2021 to 2.6% in 2022 — 1.2% below projections in January. Growth is expected to further moderate to 2.2% in 2023. Among emerging market and developing economies, growth is also projected to fall from 6.6% in 2021 to 3.4% in 2022 — well below the annual average of 4.8% from 2011 to 2019. To read the World Bank's news release, with a link to the full report, go to https://www.worldbank.org/en/news/press-release/2022/06/07/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets.
One in three countries will return to their pre-pandemic levels of insolvencies in 2022. Allianz Trade has published a new report that warns that the war in Ukraine and lockdowns in China have significantly deteriorated the balance of risks for companies. While cash buffers will prevent insolvencies from surging quickly in the short term, Allianz Trade expects global insolvencies to rebound by +10% in 2022 and +14% in 2023, with one in three countries set to return to their pre-pandemic levels of insolvencies in 2022 and one in two countries in Western Europe in 2023. In the UK and Spain, the number of insolvencies will overtake 2019 levels by the end of this year, while Italy, Portugal and the Nordics will return to their pre-pandemic levels in 2023. In France and Germany, while insolvencies will rise in 2022 and 2023 (+15% and +33%, +4% and +10%, respectively), the number of cases will remain artificially low due to strong state support measures." To read Allianz Trade's report go to https://www.allianz-trade.com/en_global/news-insights/news/insolvency-report-2022.html.
60% of European companies admit they rarely think about the negative impacts of late payment. Intrum's forthcoming annual European Payment Report (available in full on 21 June) — a survey of 11000 companies across 29 countries — has found that two-thirds of the companies it surveyed identify timely payments as critical to maintaining trust with suppliers, and an equal share says that it is important that large businesses avoid delaying payments to smaller suppliers. However, at the same time, 6 out of 10 companies say that they rarely think about the negative impact that late payments might have on smaller businesses, and one-third admit they pay their suppliers later than they would accept from their own customers. Anna Fall, Chief Brand & Communications Officer at Intrum, commented: "Simply put, some companies tend to have higher expectations on customers and competitors, as compared to themselves." To read Intrum's news release go to https://www.intrum.com/press/press-releases/press-release-article/?id=E0406FCA97056E4E#Timely_payments__a_rising_sustainability_topic.
NIESR estimates that the war in Ukraine will result in global GDP being over 1% lower at the end of 2022. The National Institute of Social and Economic Research's (NIESR) latest Economic Outlook suggests that the global economy is seeing the effects of supply-side shocks stemming from the Russian invasion of Ukraine and the resulting international sanctions against Russia. Given this context, NIESR predicts lower GDP growth and higher inflation globally than previously envisaged and now estimates that global GDP growth this year and next will be 3.3% and 3.2%, respectively — reduced from 4.2% and 3.5% previously forecast. War-related recessions in Russia and Ukraine directly account for about half of that markdown. NIESR also cautions that the war will lead to even higher inflation of 8.2% in 2022 — up from the 5.2% previously anticipated. To read NIESR's news release go to https://www.niesr.ac.uk/publications/walking-line?type=global-economic-outlook.
A marked worsening in the global risk environment indicates that the outlook for doing cross-border business remains challenging. Dun & Bradstreet's (D&B) latest Global Business Risk Report indicates that the outlook for doing cross-border business remains challenging, and businesses operating cross-border continue to face high levels of uncertainty. Of the top ten risks identified for this quarter, all risks, except for two — resurgent COVID-19 waves and EU politics — have either worsened or stayed at the same levels, with some new risks emerging on the horizon. Overall, supply-chain disruption is now considered the most serious risk for the global risk environment, followed by Russia/Ukraine conflict escalation and stagflation. To read D&B's report go to https://www.dnb.co.uk/perspectives/finance-credit-risk/quarterly-global-business-risk-report.html.
Events & Professional Development
TXF Global 2022: Export, Agency & Project Finance
HYBRID EVENT: LISBON & ONLINE, 7-8 June 2022. Lisbon, Portugal.
TXF Global Export is back for 2022 and this time, *drumroll*... we’re taking the global export roadshow to Lisbon!
Join us on the 7th & 8th June 2022 for another unmissable hybrid event. Deal makers from across the globe are already lining up to save their spot. Topics up for debate include:
  • Financing the goals of COP 26
  • Mega borrowers of the future
  • Mega borrowers of the future
  • Guardians of Export Credit - The Government perspective
  • The Green ECA CEO panel
Two types of participation are available for TXF hybrid events:
Two types of participation are available for TXF hybrid events:
1. Physical Event Ticket
  • Get your feet on the ground to come together with key clients, colleagues and industry experts. Your ticket will also include:
  • Additional networking features such as the poolside cocktail reception Access to the virtual event platform – reach out to virtual-only attendees and watch all sessions on-demand if you miss them 
  • Networking concierge service – allow us to do the leg work and introduce you to new potential clients 
2. Virtual Ticket/ On-Demand (Available TXF events 365 Members Only)
From the comfort of your desk watch all sessions live or on-demand as well as use our ‘Search the Guest List’ feature to reach out to other virtual attendees and those joining the physical event in-person. 
To find out more about joining virtually as part of a TXF Membership, please email membership@txfmedia.com. email membership@txfmedia.com.
GTR West Africa 2022, 9-10 June. Lagos, Nigeria.
On June 9-10, market-leading experts from a range of key economic sectors will reflect on the latest developments impacting trade at GTR West Africa 2022 in Lagos, Nigeria.
Focused discussion themes will explore innovative solutions promoting development throughout the trade value chain in areas such as infrastructure development, investment opportunities, commodity trade finance, manufacturing, agribusiness and trade digitisation.
For corporates and trade financiers looking to make their next move, GTR West Africa provides the ideal platform to hear cutting-edge perspectives from a wide range of trade and export finance experts while offering the opportunity to network with the industry’s top players.
We look forward to returning!
For more information and to register go to https://www.gtreview.com/events/africa/gtr-west-africa-2022-lagos/#tab_overview
Credit Insurance News readers can claim a 15% discount using the code CIN15.
Tokio Marine Risk Seminar Series. 16 June, London.
The Tokio Marine HCC (TMHCC) Trade Credit team are hosting the last event in the 2022 Risk Seminar Series.
The seminar aims to inform and educate brokers about the key Trade Credit risks emerging across various trade sectors, including Construction, Engineering & Metals, Retail and more.
The last event of the series will be in London on Thursday 16 June focusing on Food & Drink, Retail, and Media & Advertising trade sectors. If you would like to attend please contact Marion Clifford (mclifford@tmhcc.com).
GTR East Africa. 21-22 June, Nairobi.
For over a decade, GTR East Africa has brought together leading commodity producers and traders, manufacturers, trade finance specialists, risk management experts, and trade tech innovators, providing unrivalled insight on this exciting region. 
Set to return to Nairobi as an in-person gathering on June 21-22, 2022, the conference will deliver a cutting edge agenda highlighting the key issues impacting the region’s trade, commodity and infrastructure financing markets, from hard currency liquidity challenges to a rapidly evolving geopolitical landscape and the opportunity to enhance the trade sector’s role in sustainable economic development. 
Supported by a host of industry leading companies including local banks, financers, investors, ECAs, insurers and more, this event is an unmissable date for anyone seeking expert insight on doing business across the region.
Credit Insurance News readers can claim a 15% discount using the code CIN15.
Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of webinars and classroom training courses.
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinar on Trade Credit Insurance is on Innovation and Digitalisation in Trade Credit Insurance and Surety: this webinar will take place on the 15th of June 2022.
The classroom training courses are scheduled to take place in September 2022 on the following dates:
  • 27 & 28 September 2022: Trade Credit Insurance Foundation Course 
  • 29 & 30 September 2022: Trade Credit Insurance Advanced Course 
  • 27 & 28 September 2022: Surety Foundation Course 
  • 29 & 30 September 2022: Surety Advanced Course 
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned expert from the industry and there is enough opportunity for posing questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: SCHUMANN
At SCHUMANN we optimise the management of risk for credit, surety, political risk insurers and export credit agencies. Our software solutions and risk models are setting the future technological standards for the industry. We are an open minded and learning organisation which invests heavily in research and development, often with our partners at the University of Goettingen. We aim to stay ahead of the competition with our cutting edge technology.
We value our independence, and are happy to work with any data provider or partner of your choice. We favour long term partnerships. We invest all of our resources into our customer relationships, and as a result have never lost a customer in our 25 year history.
CAM Credit and Surety enables our customers to automate risk assessment and underwriting processes, while our artificial intelligence handles complex workflows with ease, enabling customers to remain compliant with their regulatory environment.
A SCHUMANN software solution is both future proof and the most robust on the market — it will provide decades of service and will never let you down.
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