Touax testifies about its Aston iTF accounts receivable optimization platform and its Atradius credit insurance policy.

Text transcription :

Touax Modular Solutions is a family-run business that has been in existence for over a century, and has four operational rental activities: river barges, transport wagons, sea containers and prefabricated modules, particularly for construction sites, prefabricated schools and the like.

It’s a company with sales of over 360 million euros, a worldwide presence, and the modular part of the business generated sales of around 90 million euros throughout Europe.

(What needs does your credit insurance policy meet?)

In early 2015, the need to better secure and manage trade receivables arose, along with the need for short-term financing via a factoring contract with a credit insurance policy as a prerequisite.

(Why did you choose an accounts receivable management software?)

We had an outdated accounting tool that didn’t handle credit insurance contracts and factoring, and we needed to automate and streamline the administrative tasks involved in managing accounts receivable. We opted for ASTON iTF Cash Collection – Crédit Power business software, which is linked to the credit insurance contract. This optimizes cover and claims management, and reduces administrative tasks. Aston iTF is a cloud solution that has been implemented for three main reasons. The first is to reduce solution deployment time. The second is to benefit from regular updates. And last but not least, we’re facilitating the recovery of receivables, and the roll-out of our credit insurance and factoring contracts across Europe.

(Why did you decide to set up a factoring contract?)

We needed short-term financing to manage our cash flow. The factoring solution appeared to be the most appropriate for its flexibility and structuring effect. It also enhances the value of our trade receivables in the eyes of our financial partners.

(Why did you choose Atradius?)

(In your opinion, what are the strengths of atradius?)

Atradius offered us a contract adapted to our outstandings and our type of customer. Atradius’ integrated credit insurance offer and Aston iTF Crédit Power Cash Collection credit management software were the key factors in our choice.

(What do you see as the challenges facing customer credit in the coming years?)

In today’s fast-changing business environment, it’s difficult to have the in-house teams needed for accurate financial analysis. That’s why I rely on credit insurers who have the right teams, enabling me to concentrate on optimizing the order-to-cash chain and supporting sales teams. Credit management must evolve towards global management of working capital, using integrated solutions based on digital credit management and cash collection platforms.