AVTECH Software is a family-owned, private corporation founded in 1988. This Warren, Rhode Island company is a computer hardware and software developer and manufacturer. AVTECH Room Alert products proactively monitor critical facilities and assets for conditions such as temperature, humidity, power, flood/water leakage, smoke/fire, air flow, room entry, motion, cameras and more. This small company has 21 employees.
Room Alert started exporting in 2000 and is now in over 186 countries and can be found in over 80 percent of the Fortune 1000, most state and federal agencies, and all branches of the U.S. military.
AVTECH customers sought credit terms and did not want to pay in advance. Meanwhile, the company was wary of buyer nonpayment and the adverse effect it has on cash flow.
The company obtained an EXIM small business export credit insurance policy in 2018 to resolve these two issues and have already renewed the policy for 2020. AVTECH can now offer open account credit terms without the worry of nonpayment as EXIM covers up to 95 percent of the invoice.
EXIM has supported AVTECH sales for 46 buyers in 25 countries with 33 percent of its shipments sent to two buyers in the United Kingdom and another 15 percent sent to two buyers in the UAE. This activity is very impressive for the company’s first year working with EXIM.