|
|
|
07 Apr 2009
Global resell giant Insight Enterprises has stressed that Euler Hermes’ decision to halve its credit insurance cover will have minimal impact on its business.
NASDAQ-listed Insight is one of the world’s largest resellers with global fourth quarter 2008 sales of $1.16bn (£793m). Euler's move applies to its operations in the US, EMEA and AsiaPac.
Stuart Fenton, president of EMEA and AsiaPac at Insight, confirmed that distributors' cover into Insight was reduced by 50 per cent towards the tail end of last week.
Further reading
But he played down the impact the decision would have on Insight and stressed the firm is in sound financial shape.
He said: “Insight’s balance sheet remains strong with reasonable debt levels. We also have a business that generates significant cash flows, as seen in the fourth quarter of 2008 where we were able to pay down $103m of our debt outstanding during the quarter.
“Additionally, we maintain open communications with our top suppliers in EMEA and do not expect the downgrade to have an adverse impact on trading abilities.”
Insight is the latest in a growing line of UK and global resellers to have been affected by credit insurers' policy of reducing exposure in the channel. DSGi and Westcoast are among the other recent high-profile examples.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say