Over the last 6 months, TAEFL has added two new aspects to the business to develop and provide a more rounded and secure approach to trade finance. As we reported in the previous edition of the newsletter, the Shipping Department has been established for several months. It has added value to our clients by reducing the amount of time spent organising their own shipping and updating us about the journey of each shipment.
The latest piece in the jigsaw is risk mitigation. Three months ago, Daniel Timms joined the team to fill the new role of risk manager.
Management felt there was a need for someone with experience to dedicate their time to manage and assess all risks for both new and existing clients. This means that the clients’ businesses are in safer hands.Another part of the risk manager role is to undertake regular audits on all the clients.
The purpose of audits is simply to review a client’s risk on an ongoing basis. If anything deemed to be high risk is discovered, our risk manager will manage that risk. For example, the provision of support and guidance in creating a cashflow model to help manage funds movement through the business.
The business consultancy has also been boosted with the addition of Stephen Dootson (our regional Director North) and Daniel Timms to support Mark and Elena. They will spend time looking into clients’ business models and working together with their directors to grow their business.
The new arrivals will enable us to deliver better support to our clients and provide further help if required. These initiatives will allow our clients to devote more time to running their own business which is where their true passion lies.
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