"Responsiveness, expertise, collaboration and management of the risk of non-payment: Coface is extremely efficient"

Komax, an SME in thermoplastic engineering, has been working with Coface for more than five years to expand its export market, particularly to major automotive companies. Laurent Musitelli, Chief Executive Officer of Komax, cites expertise, responsiveness and the management of unpaid invoices as key reasons for choosing Coface as a credit insurer.

About Komax

Founded in 2003, Komax is an SME with 30 employees specializing in the engineering, development and production of extruders (machine tools for the processing of plastics) as well as in the implementation of ready-to-use extrusion lines.
 
Although the company is modest in size, it is nevertheless renowned worldwide for the quality and performance of its thermoplastic extruders, specific machines for the transformation of plastic pellets into molten plastic.
 
Komax, which is mainly involved in the production of tubes, pipes, cables, and profiles, counts among its main customers market-leading automotive suppliers (Continental, Hutchinson) as well as major players in the building and construction sectors.

"An unpaid bill can make us very vulnerable"

For more than a decade, Komax operated on a self-insured basis. In 2018, Laurent Musitelli invested in the company and, as CEO of the company, he promoted a new risk management strategy as soon as he took office. He then started looking for credit insurance solutions to support Komax's commercial development: and rightly so, since the company's turnover has increased from an average of €3 million in 2015 to around €8 million today.
 
"In my previous role, I had already used credit insurance, so I was familiar with the issues and workings of this particular sector. When I arrived, one of my first decisions was to find a reliable partner in order to minimize the risks associated with our activities. Indeed, the equipment we deliver to our customers is expensive, so an unpaid bill can make us very vulnerable and represent 5 to 10% of our turnover," says Laurent MUSITELLI, CEO of Komax.
 
Especially since Komax has oriented its development strategy towards exports, which represent 75% of its business: the company operates in Germany (its largest market) as well as in Italy, China, Mexico and Brazil, as well as Poland.

TradeLiner, a complete solution designed for SMEs

Komax needed a credit insurer that could support the growth of its operations and meet a simple need: to protect against its customers' non-payment. Coface's mid-market direct network team was able to offer Komax a complete credit insurance solution. A few weeks later, Komax became a TradeLiner customer, Coface's solution designed for SMEs.
 
Having a strong and secure cash flow is an undeniable advantage as we continue to grow and deliver on our promises to our customers
 
"Our main goal is to maintain our commercial balance at all times: to do this, we need to pay every invoice on time. Having a strong and secure cash flow is an undeniable advantage to continue to grow and allow us to deliver on our promises to our customers. And this, in any economic context!", explains Laurent MUSITELLI.
 
The insurance policy covers trade in France and exports. Komax has access to CofaNet, Coface's online policy management tool, through which customers can manage their contract easily, by requesting credit limits and submitting claims information. "Komax is a prudent partner when it comes to risk management. The company generates little, if any, claims: This is rare enough in this sector of activity to be highlighted! This testifies both to our client's good approach and to the effectiveness of our credit insurance solutions," says Anaïs BOEHM, Account Manager of Coface in France.
 
"Being supported by a dedicated team of experts is essential for us!"
 
The experts and the power of Coface's international network have largely helped Komax to fill its order book at a good pace and to respond favourably to new requests, without worrying about the risk of non-payment. "In this respect, Coface is extremely efficient! We are working together, with excellent results, to avoid late payments as much as possible," says Laurent Musitelli.
 
Expertise, responsiveness, adaptation of the contract to respond to specific issues, quality of collaboration: so many other reasons why Komax recommends Coface's services.
 
Whether you are a company or an individual, we always believe that an insurance contract is expensive... as long as you don't need it!
 
"Whether you are a company or an individual, we always believe that an insurance contract is expensive... as long as you don't need it! Since I've been using it professionally, it's become indispensable. Coface has always responded quickly, in a relevant way, and at the right price... even in difficult cases. This level of collaboration, based on fluid and regular exchanges, is crucial for an SME like ours, especially to ensure the solvency of our company's customers. It also allows Coface to fully understand our business in order to make the right decisions and offer us solutions adapted to our needs. Being able to count on the support of a dedicated team of experts to manage our challenges and with quality solutions is essential for us!", sums up Laurent MUSITELLI.

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