If you’ve ever worked on a project in the field, you know how difficult it can be to effectively communicate with your main office. Reporting through email and telephone are sometimes not enough to demonstrate something to decision makers at headquarters. Fortunately, Librestream Technologies enables industries’ home offices to communicate with their field teams through advanced video collaboration.
Based in Winnipeg, Manitoba, Librestream provides much more than standard video conferencing, however. Their flagship product, Onsight, allows for video quality control, reliable audio, multiple documentation functions, and highly advanced security and stability functions. The collaborative mobile video platform essentially creates a “virtual presence” where remote experts can even troubleshoot equipment and assess environments with the accuracy needed to make decisions on the spot. The products have been deployed in Fortune 500 organizations across several sectors.
“As companies become more global, with equipment and manufacturing sites halfway around the world, this type of effective mobile remote communications can help save money on expensive travel and streamline the decision-making process,” says Paul Rogan, Controller of Librestream. “We’ve been selling our products internationally since we began in 2003, and today we have sales across the U.S., as well as in Europe, Asia, and South America.”
In addition to providing its customers with state-of-the-art video collaboration technology, Librestream is dedicated to providing exceptional customer service, and was recently honoured with a 2015 Frost & Sullivan Best Practices Award for leadership in customer value.
Trade Protect helps Librestream deliver faster
For a few years, Librestream had used single buyer credit insurance from Export Development Canada (EDC) when shipping outside of the country. “Our order size is significant enough that payment guarantees are important,” says Rogan. “It’s hard for us to pursue a bad debt internationally.”
“But a lot of our customers want the product by a certain date—they order on the 21st and want it in their hands by the 26th. To get there in time, we need to be able to ship the product within a day of the order coming in.”
Fortunately, a solution was found with EDC’s new Trade Protect. “EDC realized Canadian companies need a fast and easy way to insure smaller amounts of less than $500,000 against non-payment,” explains Willy Fogang, Librestream’s account manager at EDC. “EDC has a database of companies that we’ve already done credit reports on, so a business can apply for Trade Protect insurance in as little as 10 minutes and can often receive approval immediately, or the same day, for premiums as low as $30.”
Recently Librestream used Trade Protect to ship a number of their video collaboration devices to a reseller in Brazil, which sells the products to companies in the oil and gas industry. “I was pleased that we really could apply for Trade Protect in 10 minutes,” says Rogan. “We were able to affordably insure the shipment and deliver it to Brazil within a quick timeframe.”
Looking to Increase Your International Sales? 5 Ways Trade Protect Can Help
If your company exports, then using credit insurance such as Trade Protect can protect your bottom line if you don’t get paid for your foreign receivables. It can also help your business succeed in other ways:
- Pursue new customers with confidence With secured receivables, you have more funds and confidence to pursue new business.
- Be nimble with fast turn-around times Trade Protect lets you apply, get your quote, and pay through an online service, and transactions can take as little as 10 minutes.
- Protect even small contracts cost-effectively Trade Protect credit insurance is designed for Canadian companies who want to insure a small number of foreign customers (five or less) against the risk of not getting paid. It’s possible to insure as little as $5,000 for less for $30, or amounts up to $500,000.
- Win more deals by offering attractive terms When backed by Trade Protect, you may be able to offer more open payment terms to your customer, helping to win more contracts.
- Free up cash flow When your bank knows you’ll get paid for a U.S. or international contract secured by Trade Protect, it may have more confidence to provide you with additional cash.
To learn more about Trade Protect, view What is Trade Protect.