Credit Management Services & Solutions
Credit Management | Credit Applications | Standard Terms & Conditions | Credit Training | Commercial Debt Management | Commercial Debt Collection | Commercial Credit Insurance
Whether you are looking for assistance with any of your credit processes or a complete outsourced credit management solution, our resources, expertise and success-proven systems can offer you a turnkey solution.
Our credit management solution includes a range of coherent, cost-effective and comprehensive solutions – that go beyond collecting overdue accounts and avoiding bad debts.
Our turnkey solution includes:
Cost free consultation in the Gauteng area and cost free analysis of existing documentation with a no obligation report and recommendations on findings nationwide.
Formulation of a Credit Application, Standard Terms & Conditions including Credit Documentation.
Training of Credit Controllers and Sales Staff on Credit Policies, Legal Procedures and Collection Procedures.
Legal Commercial Collections.
The offering of Trade Credit Insurance.
In summary, CreditSure Group offers solutions to aid businesses with their Credit Management Processes. This includes the formulation of Credit Documentation, Policies & Procedures, training and the implementation thereof, Commercial Debt Management & Collection and Commercial Credit Insurance.
We will delve into these service offerings in the sections below.
Credit Management
For any business trading on credit, it is key to have a sound and effective credit management and vetting process. The first and most important step we take in the process is to implement a system to establish the creditworthiness of a customer prior to trading.
CreditSure Group offers the best practice credit management solutions to any type of business. We do this by obtaining a holistic view of a customer’s creditworthiness, to make informed decisions.
The Credit Vetting Process of CreditSure Group encompasses the below:
- Pro-active Risk Management.
- Credit Scoring Sheet.
Why should my business adopt the Credit Management Processes and Procedures of CreditSure Group?
- Reduce the length of time it takes you to collect payment from customers and inevitably improve your cash flow.
- Own the confidence in having risk-free sales to grow your customer base and be assured of getting paid on time.
- Have the ability to anticipate a problem i.e., unexpected bad debts and implement a bullet-proof solution using the tools provided.
- Transform your sales force into your best credit managers and controllers.
- Increase your sales while reducing your bad debt, through legal documentation and supported by a comprehensive risk management strategy.
- Equip your sales team to sell more to clients that make up the least amount of risk.
- Be supported by a team of superb negotiators and leverage on the skills of a Doctorate in Contract Law and the experience of the most eminent Credit Practitioners in the country.
Consult us to help you implement a Credit Management strategy that delivers your desired results. This strategy includes writing credit policies, providing thorough documentation and setting you up to manage credit according to the best practice.
Credit Applications, Standard Terms & Conditions and Training Provided
Adopt the CreditSure Group System and we will give you the tools needed to manage your credit risk.
These tools include:
- The Standard Terms and Conditions of each company are drafted based on established legal precedence (it is made up of High and Appeal Court cases and therefore tough to dispute) by our consultant, Professor Sieg Eiselen, Professor of Private Law at UNISA, specialising in Contract Law, Consumer and Commercial Law and Information Technology Law.
- Relevant Standard Terms and Conditions (the small print), drawn up after going through a questionnaire with you to determine where your company is most at risk. A company’s Standard Terms and Conditions are written out of legal precedence (it is made up of High and Appeal court cases that have been won in a court of law and cannot be disputed). Professor Sieg Eiselen is the author of these Standard Terms & Conditions.
- Training offered to your credit and sales staff to guide them on how to use these newly acquired tools, to become pro-active in preventing problems from occurring in future. Furthermore, we assist Companies in formulating Credit Policies to familiarise their staff with.
Commercial Debt Management
CreditSure Group offers an integrated pre-legal as well as legal recovery solutions for domestic as well as international commercial debts.
We also offer customers step-by-step guidance and training to effectively deal with all commercial debt recovery matters.
Commercial Debt Recoveries
CreditSure Group specialises in Pre-Legal as well as Legal Commercial Debt Recoveries.
The Pre-legal Commercial Collection Services are provided on a ” NO Success – No Fee basis.
Customers are supported throughout the collection process, from placing a debtor in mora and issuing letters of demand, to the finalisation of matters, such as, obtaining a judgment against debtors, instituting section 65 applications and attaching property for execution.
We provide additional guidance on how to obtain relief on the recovery of debts in the least expensive manner possible. Furthermore, we guide as well as assist clients on how to institute recovery proceedings in the Magistrate, Regional and High Courts of South Africa.
Legal Services offered by CreditSure Group:
- Issue of Summons
- Judgements Applications
- Execution Warrants
- Liquidations
- Sequestrations
- Section 65 Financial Enquiries
- Defended Litigation (Including Trials)
CreditSure Group fully understands the fears and frustrations associated with costly legal action, concerning overdue commercial debts and the recovery thereof. For this reason, we utilize the services of our company attorneys for all the above mentioned services.
Our attorneys specialise in litigation on Commercial Debt Recoveries and are armed with a nationwide network of corresponding attorneys to aid in this regard.
Commercial Credit Insurance
We know that maintaining cash flow is crucial to promoting a growing business.
A credit insurance policy covers the unpaid credit balance from sales made to your customers. With us, you can protect your business by minimising the risks associated with a customer’s insolvency or delayed payment, while maintaining a desirable cash flow.
Our experts work through information on each debtor and provide the right credit management and risk transfer tools to help guide businesses in offering the right amount of credit to the right client. We help our clients steadily grow their turnover by keeping a close eye on their debtor’s book. And, if they do have a loss on an insured account, they will be indemnified according to the terms of their policy.
We aim to remove certain selling obstacles, reduce exposure to bad debts, and encourage a more disciplined and successful trade regime, which is extremely important in today’s competitive environment.
CreditSure Group uses primarily Hollard to offer Credit Insurance on a selective basis to Customers. We know that there is no longer a need to insure an entire debtor’s book, each client that needs to be insured will be assessed according to its credit risk profile.
Selective Trade Credit Insurance allows you to insure on a per debtor basis. This Credit Insurance is combined with a credit management facility to help you always keep a close eye on your debtor’s book.
The Benefits of Selective Trade Credit Insurance, Include:
- Pre-select and identify the debtors you want to insure. There is no need to insure your whole debtor’s book.
- It is designed to fit your needs. The Credit Insurance company distinguishes each debtor’s risk and charges premiums in line with that risk. You can therefore adjust your pricing using your risk premium as a guide.
- Banks are more likely to provide and offer you more extensive credit facilities at a lower borrowing cost, should your debtor’s book be insured.
- You will have an increased level of confidence to take on higher risk business opportunities, which you would normally avoid due to the fear of client payment defaults.
- Your cash flow will be protected, should any customer become insolvent or default on a required payment.
- You will have access to extensive information to help you decide on whether to extend credit or determine explicit credit terms.
- Approved claims are usually paid out within 24 to 48 hours in the event of a Customer not paying and has signed an IOU or going into liquidation.
- Increase your credibility.
- Enhance relationships with your suppliers.
- Have access to and make use of a tailor-made policy design.
- Personal service & access to decision-makers.
- Obtain cover for your business, regardless of its size or industry sector.
It is clear, that we offer a holistic solution to all trade credit risk management needs, to protect income and sustain crucial cash flow and realise sustainability and growth.
Ask us to help you protect your balance sheet, optimise your cash flow & reduce the cost of your bad debts, with a tailor-made credit management solution.
Fill in this short form, and we will contact you back.
Ask us to help you protect your balance sheet, optimise your cash flow & reduce the cost of your bad debts, with a tailor-made credit management solution.
Fill in this short form, and we will contact you back.