Established in 1997, SRL Traffic Systems has grown to be the largest traffic light equipment manufacturer in Europe and has the UK’s largest fleet of portable and temporary traffic signals.
Enhancing management practices
The company has an impressive record of expansion – doubling in size between 2015 & 2019 – and SRL sees more opportunities for the future.
Following a Management Buy Out in 2019, the executive team embarked on a drive to improve management practices across the business.
Working with The Channel Partnership, existing trade credit risk management processes were analysed a structured credit insurance policy put in place. As Richard Tredwin, CEO, explains:
“Trade debtors is a key asset for SRL with the overall trade debtor ledger increasing in line with turnover increases. We didn’t want to eliminate trade credit risk, but we did want to quantify the risk and to become more aware of our higher risk customers so we can work more closely with them.
“The credit insurance programme proposed by The Channel Partnership delivered everything we wanted – and within budget!”
The real test came sooner than expected when one of SRL’s clients entered into a Company Voluntary Arrangement, triggering a claim under the policy. Richard Tredwin again:
“We didn’t put the credit insurance policy in place in order to make claims, but when this situation arose, it was clear that The Channel Partnership were as keen to get the claim settled as quickly and comprehensively as we were! All in all it is proving to be a great decision to have credit insurance in place.”