Whether you are simply looking for assistance with any of your credit processes or a complete outsourcing service, we have cost-effective solutions for you.debtsource.co.za Johannesburg, South AfricaJoined March 2017
#motivationmonday
“Financial fitness is not a pipe dream or a state of mind. It’s a reality if you are willing to pursue it and embrace it.” – Will Robinson
Top tips for credit management in tough times
Forget about the notion of blue-chip debtors
Insure your debtors
Don’t rely on business rescue or liquidation procedures to save your bad debt
Don’t rely on business rescue or liquidation procedures to save your bad debt. In any business rescue or liquidation scenario, creditors rank according to priority based on when they extended credit and the extent of any securities they may hold.
“The risk of debtor insolvency is an inherent part of owning and growing a business. It is unavoidable, but not disastrous” says Frank Knight, CEO of credit management firm, Debtsource. lnkd.in/dG74uar
Mitigating your risks using credit insurance, self-insurance, selected debtor insurance or direct securities and guarantees, is just one of the many services we provide for our clients. To see more follow the link lnkd.in/gXJFsrY
When trying to manage your business credit you need to remember to review your debtor age analysis as often as possible, but at least every 14 days. Read more here:
bit.ly/2FSrqnn
Our main aim is to help you:
Increase cash flow, minimise bad debt. Manage risk.
Turn credit processes into a competitive business advantage
Achieve maximum overall profitability from trading’
For more information on how we do this follow the link lnkd.in/gXJFsrY
Did you manage to listen to our CEO, Frank Knight, on Kaya FM as he gave his insights on credit management in our current economic climate. ow.ly/471i50v4Gi6
#TopTip Figure out what the main reasons for non-payment from customers are. Once you are armed with what creates the most queries or even credit notes, you can set about fixing the problem.
Let us help you implement a credit management strategy that delivers results. This includes writing credit policies, providing documentation and setting you up to manage credit according to global best practice. Send an e-mail to [email protected]
#Didyouknow Banks recognise the value of a properly managed debtors' book and will therefore give you a higher facility if you are a client of ours. We also work with a number of financial institutions that are eager to gain Debtsource guided clients. bit.ly/2Nzl3LU
What does Debtsource typically charge for their services? Debtsource usually bills clients as a percentage of their monthly credit sales, depending on the extent of the services provided. Talk to us about credit management debtsource.co.za
#FinanceTip Get proper advice on your documentation and make sure that these are meticulously implemented and filed. Incomplete agreements or application forms that are not properly designed, completed or signed are sure to frustrate your collection processes and periods.
For any business that sells the bulk of their goods and services on credit terms to other businesses, collecting their money timeously is critical not only to their cash flow, but to the survival of the business. Take a look at ways to do this here: bit.ly/2FSrqnn
Can Debtsource help me recruit skilled credit staff? Yes,Debtsource provides a complete credit management solution which includes helping you select staff.While we aren't a recruitment agency, we will provide competency testing & interviews to ensure you pick the best candidate.
''Within the trade credit environment, the biggest concern is the systemic risks posed by the financial health of State-owned Enterprises (SOE), ballooning government-owned debt & corruption,” states Frank Knight, CEO of DebtSource.
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