WEBVTT Kind: captions Language: en 00:00:09.000 --> 00:00:12.160 CHS Inc is a cooperative founded over 100 years ago in the state of Minnesota 00:00:12.160 --> 00:00:16.880 in the United States. More specifically, we are a cooperative of cooperatives. 00:00:16.880 --> 00:00:21.400 We belong to 75,000 producers-breeders, 750 cooperatives, 00:00:21.400 --> 00:00:23.400 and 20,000 individual stockholders. 00:00:24.400 --> 00:00:30.000 Our business is about creating connections to connect all 00:00:30.000 --> 00:00:34.560 major players in the agriculture market. For the strictly agricultural part, we will 00:00:34.560 --> 00:00:39.640 work with the producers on a part of financing service, 00:00:39.640 --> 00:00:41.896 risk management service, but also we provide them with everything they need 00:00:41.896 --> 00:00:47.400 to be able to plant. That is to say fertilizers or nutrients for the soil. 00:00:53.061 --> 00:00:59.032 We implemented two services with Coface: the first in 2020 with trade credit insurance. 00:00:59.032 --> 00:01:04.361 We currently cover 250 clients from around 200 countries with a maximum outstanding amount 00:01:04.361 --> 00:01:06.069 of $125 million. 00:01:06.069 --> 00:01:10.615 So trade credit insurance is really there to cover the risks of non-payment. 00:01:10.615 --> 00:01:16.723 In 2021, we adopted Coface information services for different reasons. 00:01:16.917 --> 00:01:21.962 One of them was that we were looking for a global partner, but also 00:01:21.962 --> 00:01:28.280 the information product is the best way to get maximum information in minimum time. 00:01:28.460 --> 00:01:33.171 You have to understand that if I used my teams to look for information in different countries, 00:01:33.171 --> 00:01:36.000 we would have language barriers, it would take a lot more time. 00:01:36.160 --> 00:01:39.818 So information services allow us to be really efficient. 00:01:39.818 --> 00:01:44.368 The idea for us is to be able to give a response to our sales teams in less than 15 minutes. 00:01:44.368 --> 00:01:46.169 Objective achieved with information services. 00:01:51.459 --> 00:01:56.059 Coface provides us with information concerning companies identification, 00:01:56.059 --> 00:02:02.057 but also, depending on the country, the financial information of its prospects or future customers. 00:02:02.057 --> 00:02:07.883 From there, we integrate them, via API, directly into our system. Following the level of risk 00:02:08.025 --> 00:02:12.058 identified, either via the DRA or via financial information, 00:02:12.758 --> 00:02:17.800 we decide internally whether or not to approve the credit limit, or simply to keep 00:02:17.800 --> 00:02:22.059 the risk internally, or to transfer it to the trade credit insurance level. 00:02:22.059 --> 00:02:29.840 It is a tool that ultimately allows me to optimize my credit management and manage my risk. 00:02:31.960 --> 00:02:36.240 Coface, unlike its many competitors, is not only a 00:02:36.240 --> 00:02:39.800 seller of data but also a consumer of data through 00:02:39.800 --> 00:02:44.520 its trade credit insurance business. They use this data themselves 00:02:44.520 --> 00:02:49.880 to make decisions. From the moment Coface is able to make 00:02:49.880 --> 00:02:59.840 decisions on their own data, this naturally gives me a lot more confidence as well.