Tenzor Ltd- Corporate Restructuring and Working Capital Management

Category: Working Capital

Igor Zax interviewed on Credit Insurance for Secured Lender

Igor Zax, Managing Director of Tenzor Ltd., was interviewed about credit insurance, among other industry leaders in Secured lender, a publication of Commercial Finance Association.

The article,

Trade Credit Insurance Proves to be a Useful Financial Tool

was written by, Eileen Wubbe, Senior Editor and also includes interviews with senior officers of credit insurers (Atradius, COFACE, EULERHermes), insurance brokers (Marsh, Arthur J. Gallagher) and Financiers (GE, EX-Works Capital).

Igor Zax is also looking forward to moderating credit insurance panel at Factoring and Trade Finance World, a major conference by Commercial Finance Association, that will be held in Miami 2-4 March 2015.

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Igor Zax to moderate a panel at Alternative and Receivables Finance Conference

Igor Zax, Managing Director of Tenzor Ltd., is going to moderate a panel at “Alternative and Receivables Finance” conference in London 11 May 2015, organized by BCR Publishing.

The panel topic is : Optimising product innovation and market differentiation in the receivables and alternatives space

The traditional products are not growing much if at all at the smaller end of the SME market – yet the need for new methods for releasing working capital is clear. One of great virtues of digital banking and the online platforms is that they enable companies to finance only those receivables they wish to finance, rather than having to discount their whole sales ledger

  • What is the value and driving forces for single invoice financing from customer standpoint?
  •        How does the product fit comparing to other available solutions?
  • Investments in technology – which technologies, who provides them, what would they enable  funders to achieve that cannot be offered easily today?
  • Platforms vs. individual alternative lenders – pros and cons?
  • Is there sufficient real-time information available to allow better credit underwriting to occur?
  • Does receivables finance need regulation to make it work better for customers, investors and other stakeholder?
  • The elephant in the room: what will be the regulatory response for significant losses to unsophisticated investors?

Moderator:
Igor Zax, Managing Director, TENZOR LTD

Panellists:

David Parsons, Regional Director South and Midlands, SECURE TRUST BANK
Chris Dark, President International, C2FO
Conrad Ford, Managing Director, FUNDING OPTIONS
Sarah Gannon, Director Business Development, DEMICA

ARF15-programme_v8

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Igor Zax to moderate a panel at Factoring and Trade Finance World

Igor Zax, Managing Director of Tenzor Ltd., is going to moderate  a panel during Factoring and Trade Finance World Conference in Miami 2-4 March 2015, organized by Commercial Finance Association (CFA). The panel,  Trade Credit Insurance would bring leading figures from major credit insurers (Euler Hermes, Atradius and COFACE) as well GE as a major user, and will include:

  • Kick Baesjou, Global Solutions Director, Coface
  • David Huey, President & Regional Director, NAFTA, Atradius Credit Insurance
  • Todd Lynady, Vice President, XoL (Americas), Euler Hermes World Agency
  • Robert Santimays, Chief Credit Officer, Working Capital Solutions, GE Capital

The agenda for the panel:

Product strategy – whole turnover, single risk, XoL, specialized solutions- where is the value?

·        Regional strategy – US, Europe, Emerging Markets.

·        Global clients- are insurers geared to serve them?

·        Financial institutions vs. corporate clients – difference in approaches.

·        Insurers and financiers – partners or competitors?

For link to agenda please see below:

https://www.cfa.com/eweb/DynamicPage.aspx?Site=CFA&WebKey=d7da70e4-61f9-4b65-9fdb-57cc5e9aac18

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Webcast "The Credit Insurance Puzzle: Why is it 5x more popular in Europe?"-Slides from the presentation

Igor Zax (Zaks), Managing Director of Tenzor Ltd. presented 4-th of November 2014 a webcast “Credit Insurance: Common Misconceptions, and Can it Be a Useful Tool”, hosted by Commercial Finance Association (CFA), the international trade association dedicated to the asset-based lending and factoring industries.

The webcast was attended by major banks, asset based lenders, export credit agencies, insurance brokers and credit insurers.

You can see slides for the presentation as a PDF file- link below

Credit Insurance- common misconceptions and can it be a useful tool FINAL

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The Credit Insurance Puzzle: Why is it 5x more popular in Europe?- webcast by Igor Zax for CFA

Igor Zax, Managing Director of Tenzor Ltd. will be presenting a webinar “The Credit Insurance Puzzle: Why is it 5x more popular in Europe”. The webcast, hosted by Commercial Finance Association (CFA), the international trade association dedicated to the asset-based lending and factoring industries and will take place on 4th  of November 11 am EST/4pm GMT.

Why is the percentage of secured transactions that are insured five times higher in Europe in the USA?  And what can we learn from the difference?
Credit Insurance can bring up strong opinions, and often we hear most about it from the insurance experts themselves, or from lenders who want to share a horror story.
Igor Zax will offer an unbiased overview of common misconceptions about credit insurance, and mistakes that are often made.  He will explore the reasons (right and wrong) why it more popular in some markets and less so in other, and the ways to structure programs for various purposes (both export and domestically). Zax will also map credit insurance among other available tools (from both corporate and financial institution prospective).

Free registration is available on CFA website via link https://www.cfa.com/eweb/DynamicPage.aspx?WebCode=EventInfo&RegPath=EventRegFees&Reg_evt_key=89CBC1A9-C350-4BCA-8CD7-E71C3ADD06A0

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Receivables Finance in the Context of Working Capital Management by Igor Zax

Igor Zax, Managing Director of Tenzor Ltd, published a new article, Receivables Finance in Context of Working Capital Management in TRF News (Trade and receivable Finance News, a major publication by BCR).

Editorial comment states “Igor Zax’s article in today’s trfnews, ‘Receivables Finance in the Context of Working Capital Management’, reminds us of the value of looking back at the history of modern supply chains and how working capital management, and hence factoring and supply chain finance, has developed from this. It also reflects on the potential frailty and dangers that over exposure to some supply chain structures can bring.

On late payments he says: “just a couple of weeks delay on 30 day terms increases working capital consumption by one-and-a-half times.” I wonder how many factors use such direct terms in their advertising material. If they do not, perhaps they should consider it, particularly as the trend is for larger companies to use receivables finance, and it is those companies in particular that tend respond well to the use of such analytic sound bites.”

Reprinted with permission.

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Igor Zax to present at Annual Restructuring and Turnaround conference by IIR

Igor Zax, Managing Director of Tenzor Ltd., is going to present at 4-th Annual Restructuring & Turnaround 2014 conference by IIR 2-nd of July 2014 in London. He will be joining a panel “Strategies for an Effective Turnaround” discussing:
• Formulating and executing a successful turnaround strategy
• Negotiating with lenders
• The importance of due diligence
• Financial restructuring tools
• Operational restructuring tools

Other speakers on the panel include:
Gareth Davies, Managing Director,GREENHILL
David Bryan, Founding Principal, BRYAN, MANSELL & TILLEY
and Mike Jervis, Partner, PwC

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Igor Zax to moderate a panel "Developing Value in an Invoice Financing Business"

Igor Zax, CFA,  Managing Director of Tenzor ltd., is going to moderate a panel “Developing Value in an Invoice Financing Business: What Makes it Ripe for Investment?” at Receivables Finance 12th Annual Convention in Warsaw, Poland, 1-2 April 2014. He will be joined at the panel by Simon Featherstone, Global CEO of Bibby FInancial Services, Margrith Lutsch-Emmenegger President, Fimbank and Chairman, International Factors Group, and Richard Woodhouse.
Igor Zax is alos going to present at a panel “Understanding the Supply Chain Finance Ecosystem” at the same conference togheter with heads of Supply Chain Finance from HSBC, ING and RBS.

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DISTRIBUTION FINANCE – A TIME FOR CHANGE? by Igor Zax and James C. Berry II in World Supply Chain Finance Yearbook 2013/2014

Igor Zax, managing director of Tenzor Ltd, and James C. Berry, II, Executive Director, 5I Group LLC, published a new article, Distribution Finance – A time for change in World Supply Chain Finance Yearbook 2013/2014, a major publication by BCR/Factorscan.
The article addresses industry landscape and fundamentals, new products and approaches to make the industry more competitive and better serve client needs, and opportunities for new entrants (such as leasing companies and banks) in this market.

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