Sydney, Australia – Atradius has announced the appointment of Farook Mohammed as country manager in New Zealand following the retirement of Martin Jones. Specialising in the assessment and management of clients’ needs and management of risks, Farook joins Atradius as part of its ongoing efforts to support local and international businesses in their exports as well as in their trade with local companies.
Farook has more than 15 years’ experience in credit insurance as an underwriter and broker. He joins Atradius from Aon Risk Services Australia, where as a client manager, he was responsible for the service, placement, and administration of a large portfolio of trade credit insurance clients ranging from small- to medium-sized enterprises (SMEs) to large global corporations.
Farook also previously worked as an underwriting manager at QBE Insurance Australia, where he managed 50 per cent of QBE Trade Credit Australia’s domestic retention portfolio and all export retention and new business in New South Wales.
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Sydney, Australia – Australian suppliers interviewed for the October 2017 edition of the Atradius Payment Practices Barometer for Asia Pacific experienced an increase in the number of late payments from their B2B customers over the past year. To protect their businesses from late payments, 22.9 per cent of the suppliers surveyed reported having taken specific measures to correct cash flow.
In 2017, Australia’s GDP growth is not expected to exceed the 2016 rate of 2.5 per cent. A slightly more optimistic outlook is foreseen for 2018 with growth expected to accelerate to 2.8 per cent.
Despite Australia’s stable performance, there were fewer sales on credit terms compared to one year ago. The average total value of sales made on credit terms in Australia decreased from 49.1 per cent in 2016 to 43.8 per cent this year, mainly due to the sharp decrease in the average percentage of foreign B2B sales on credit. Among the Asia Pacific countries surveyed, Australia has the second lowest average percentage of transactions on credit after that of China at 40.7 per cent.
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Credit limits approved in minutes with just a few clicks
Sydney, Australia – Atradius has announced an upgrade to its digital platform with the unveiling of ‘Atrium’, its new credit management portal. Atrium is an advanced way for business to complete credit insurance transactions creating a new level of service. The Oracle based portal is designed to evolve with digital advancements and user requirements. It is being launched between June 19 and July 15 in Atradius markets around the world.
Atrium has been designed to directly and quickly address the everyday needs of its customers, brokers, agents and account management teams. The buyer centric platform delivers a faster and more efficient user experience focused on applying for cover and filing claims; the services most frequently used by customers. Each Atradius customer can immediately and instantly search for and view information about buyers’ creditworthiness, such as buyer ratings, current cover and claims,. Having received a clear picture of the buyer on the buyer details page the customer can directly on this page apply for a credit limit with most required information already included in the application. Credit limit decisions, in most cases, are immediate.
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Sydney, Australia – After a very low pace of growth in 2015, global trade growth has slowed even further over the first half of 2016, according to Atradius Credit Insurance N.V.
Trade growth in Emerging Asia, the world’s second largest trade bloc, is extremely low, as China rebalances from investment-driven growth toward a more inward-looking consumption-led growth.
Lower commodity prices have also dampened investment in natural resource-rich economies around the world which has contributed to a sharp contraction of trade in Eastern Europe and slowdown in Latin America. Even the US has seen its trade growth grind to a halt, due to lower investment in the oil and gas sector, but also because of lower external demand and a strong USD which have reduced exports.
In 2016, the tempo of growth in world trade is expected to be about one-third of global GDP growth. Such a low rate of trade growth has not occurred since the global economic crisis of 2009.
Anti-globalisation sentiment is rising, as is evidenced by political developments like Brexit and the election of Donald Trump as US president. Trade liberalisation efforts like TPP and TTIP are stalling, thereby threatening the outlook for trade.
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