Electrio is a company with strong values and high standards at its core. Proud of its reputation for quality electrical design and installation, Electrio is equally committed to investment in the training of their operators. Their commitment to reliability and quality extends to the products that they carry and the advice that they give, encouraging and supporting their clients to ‘go green’ using the latest energy efficient modules including LED lighting and PV Panels.
Liquidation of long-term customer leads to first claim in 10 years
Electrio believe in working in partnership with its clients – so when a client is lost through insolvency, it’s more than just a bad debt, it’s the loss of a business partner too. On 14th March 2018, longstanding valued customer Benson Bros went into liquidation leaving a six figure debt owing to Electrio, who consequently had to make a claim for the first time in 10 years.
Fortunately, Electrio had an appropriate and comprehensive credit insurance policy with The Channel Partnership – so within 49 days of the customer liquidation, the full value of the insurance claim was paid into Electrio’s account with minimal disruption.
Electrio has used trade credit insurance for more than a decade as part of a system of proactive credit management and as a reduction of risk. It not only acts as the ultimate protection in the event of a bad debt, but has also supported business to reduce risk by setting appropriate levels of credit in the first place.