Background

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 and 2019 – and SRL sees more opportunities for the future.

Following a management buyout in 2019, the executive team embarked on a drive to improve management practices across the business.

Working with our Trade Credit team, existing Trade Credit risk management processes were analysed and structured Trade Credit insurance policy was put in place for SRL. 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 Trade Credit insurance programme proposed by Specialist Risk Insurance Solutions 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 commented:

“We didn’t put the Trade Credit insurance policy in place in order to make claims, but when this situation arose, it was clear that the Trade Credit team 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 Trade Credit insurance in place.”