Supply Chain Finance in the Context of Working Capital Management- report by Igor Zax

Igor Zax, Managing Director of Tenzor Ltd., published a special report, Supply Chain Finance in the Context of Working Capital Management .
The report, published in conjunction with BCR Publishing, covers industry structure, risk management, financing and operational aspects, the way companies viewed the product, as well as trade offs between dynamic discounting and supply chain finance products.

The full report is available via the link below:
Supply Chain Finance in the Context of Working Capital Management

Igor Zax presented at LBS on Turnaround and Restructuring in Emerging Markets- slides available

Igor Zax, Managing Director of Tenzor Ltd., made a presentation on Turnaround and Restructuring in Emerging Markets at London Business School, arranged by the LBS Turnaround Management and Restructuring Club 17-th of March 2016. The presentation was focused on specific challenges restructuring and turnaround practitioners facing in Emerging Markets and the ways to overcome them.

The slides for the presentation are available via the link below:
Turnaround and Restructuring in Emerging markets

Buyer Confirmed Receivables- Wider Market Implications- article by Igor Zax

Igor Zax, managing director of Tenzor Ltd, published a new article, Buyer Confirmed Receivables – Wider Market Implications , in the World Supply Chain Finance Report 2016, a major publication by BCR/Factorscan. The article is focused on use of buyer confirmed receivables across a variety of financing products, such as credit insurance, secularization, alternative fiance, distribution finance, as well as it’s technological and strategic implications.

Igor Zax to chair Trade Credit-Finance and Risk

Igor Zax, Managing Director of Tenzor Ltd., will chair a conference Trade Credit – Finance Risk and Insurance 23-24 September 2015 in London. The conference, organized by IIR/Informa, would include top speakers from major banks, credit insurers, ICC, factoring and technology companies, as well as corporate users.

As a speaker I am delighted to offer 20% discount -please quote VIP code FKW52969EMSPK To register for the event please use the following link http://www.iiribcfinance.com/FKW52969EMSPK

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

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

Webcast by Igor Zax on Credit Insurance- for CFA

Igor Zax, 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

Igor Zax co-chaired Distressed Debt Forum 2014

Igor Zax, Managing Director of Tenzor Ltd., chaired the second day of Distressed Debt Investor Forum 2014- Maximizing returns & Restructuring for Recovery when Investing in Distressed Debt & Special Situations by IIR/Informa 12-13 of November 2014 in London.The event saw major players from major distressed funds (debt and equity), banks, big 4, law firms and others.

In addition to chairing the second day, Igor was also presenting on a panel “Investing in Emerging Market Distressed Debt”

For the full program of the event please see the link below:

Informa Distressed Debt 2014 6pp

 

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 TEF 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.

Igor Zax Personal Website