Today, financing is also a key factor in success on international markets. How can companies reduce their dependence on domestic customers and manage business risks during expansion? These key topics were discussed at the Industry 4.0 conference organized by ta3 television. Igor Barát, Deputy CEO and member of the Board of Eximbanka, spoke during a panel discussion focused on the challenges and opportunities facing Slovak exporters.
In today’s highly competitive global environment, Slovak companies face pressure not only to ensure the technological sophistication and innovation of their solutions, but also to maintain financial flexibility. The discussion at the Industry 4.0 event clearly showed that manufacturing a high-quality product is only the first step toward success; the second, equally important step is the ability to sell it on foreign markets with optimally structured terms of trade and payment.
During the panel discussion, Igor Barát emphasized that securing an international contract today is by no means determined solely by price and product quality. Foreign customers increasingly expect comprehensive solutions, an integral part of which is securing financing. According to him, the ability to offer favorable payment terms is often the decisive factor that tips the scales in the supplier’s favor.
The transition to smart industry in Slovakia is largely driven by smaller, innovative engineering firms. These companies have enormous potential to succeed even in large-scale international projects. However, in foreign markets, they often face better-capitalized competitors who can afford to offer customers more lenient payment terms and longer payment periods.
It is precisely in this regard that state export credit agencies play a key role. Their role is to help offset this capital disadvantage and open doors to the world for smaller Slovak companies as well, providing them with the same risk-mitigation tools used by large multinational players.
Many years of practical experience have shown that the most common mistake exporters make is waiting until after the commercial contract has been signed to address the financing structure. By that point, the scope for optimizing risks and costs may already be significantly limited.
The right time to arrange financing, secure the necessary bank guarantees, and arrange receivables insurance is already during the preparation of the commercial offer. By addressing these processes early on, a company can ensure a steady cash flow during the critical period between the start of production and the actual payment of invoices. A large international order thus becomes a real opportunity for growth, rather than a threat to the company’s operational stability.
Eximbanka is ready to provide Slovak exporters with comprehensive and targeted support, whether it involves pre-export financing, the issuance of bank guarantees, or insurance against geopolitical risks and buyer default. The institution’s goal is to be a stable partner and source of support for domestic companies and to enable them to successfully introduce Slovak technologies and innovative solutions into new markets safely and with confidence.
The panel discussion at the Industry 4.0 conference, moderated by Lenka Buchláková, was further enriched by the valuable insights from the business and investment sectors shared by other speakers: Peter Blaškovitš, Eduard Buraš, and Ľubomír Švec.