Knowing your customer is key to success in SME sector

SME Credit Business Credit Check

SME Credit Business Credit Check

Why the Credit vetting process of your potential and current clients in a Small to Medium Enterprises environment (SME), should be at the top of your list…every day.

SME’s are at a greater risk than large corporate companies due to the simple fact they have tight cash flow restrictions. If a client deviates from paying their 30 day account by 2 or 3 months it directly affects the business, owner and its employees.

The percentage of small businesses simply skipping out on this critical process is staggering.

A detailed credit application document with the correct capture information, credit vetting consent and related terms of agreement will go a long way in protecting the financial well being of your organisation.

By utilising an easy to use, online, credible and accurate credit vetting systems like pbVerify that is connected to all major credit bureaus and credit data providers will avoid getting your Debtors book in a twist.

pbVerify is specifically for small to medium sized businesses and brought to you by the trusted global name in customer communications, Pitney Bowes.

“Simply taking the steps to check the credit status of companies and Directors before doing business with them is straightforward, very affordable and it could make all the difference” Says Sean Bennett, senior national consultant at pbVerify.

Using a reliable credit vetting system to truly know your customer is the first responsible step to caring for your future and that of your business.

For all your Credit Vetting solutions, please visit www.pbverify.co.za or contact Sean Bennett on 011 516 9400 (Opt. 2) for a product demonstration.

Before you extend a line of credit, check the consumer’s credit report with pbVerify

pic2Due to recent reports that millions of people in South Africa are in debt, it’s critical that lenders check each applicants’ credit score in order to mitigate risk and avoid making a bad business decision. With pbVerify you’ll get access to consumer credit reports, be able to access applicants’ credit health and have all the information available to assist you in making smart business decisions.

What type of businesses can benefit from using pbVerify?

  • Credit grantors – Any Business selling on account. Check the credit worthiness  of each applicant and use it as as risk management tool, whether you’re lending to an individual or to another business.
  • Trace agents – In order to locate consumers who have defaulted, pbVerify gives you access to more than 30 million consumer records and our services are widely used by thousands of trace agents.
  • System integrators – In order to verify the identity of consumers in the retail and HR industries, use our ID API services and get full and complete Home Affairs information.
  • Estate agents and letting companies – Our credit check and deeds search services are widely used to assess prospective renters and to obtain information on property owners in South Africa.

»» More – How it works

Managing risk and properly assessing credit applicants is a vital part of any business that lends money to individuals or to other businesses. When you register with pbVerify you’ll be able to make smarter business decisions, protect your company and get the full and complete information on specific consumers before deciding on a plan of action.

For more information on obtaining a credit report from pbVerify please contact us today. We look forward to hearing from you!

How your business can benefit from consumer credit checks from pbVerify

pic6All businesses need to be able to manage risk when it comes to lending credit to consumers and consumer credit checks from pbVerify can help your company make smart business decisions. This is especially important for small businesses that can’t afford to take large risks and that can’t afford to become victims of fraud; it’s important to always ensure that you know who you are dealing with.

What types of businesses can benefit from consumer credit checks?

  • Lending companies that extend lines of credit to consumers for big purchases such as cars, homes, education and more.
  • Banks, whether large or small, can benefit from ensuring they have the most accurate and up-to-date information about each consumer.
  • Letting agents and property rental companies. Before agreeing to let a property to someone or if you need to know if potential tenants have a history of defaulting on credit payments.

Consumer credit checks can provide you with a range of information including a complete consumer profile, judgments and defaults, fraud listings and indicators, marital status and spouse details, employment details and more. Before your business enters into any type of credit arrangement with an individual or another business, ensure you’ve obtained every bit of information that may affect your decision.

At pbVerify our goal is to help businesses manage risk and avoid potentially harmful business decisions. Risk and Debtor Management are critical facets of your business’s operation and without them, you may be opening up yourself to taking on risky creditors. For more information on obtaining consumer credit reports from pbVerify please contact us today. We look forward to hearing from you!

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How pbVerify Business Credit Check can help your business with risk assessment and risk management

riskBusiness Credit Check from pbVerify is a must-have tool for any business owner who wants to make smart, informed decisions that best benefit their company or organisation. Risk assessment and managing your credit risks are two important components of being a business owner – it’s critical that you have the ability to make good decisions when assessing new debtors.

If you want to take an active role in protecting your business against bad debt, Business Credit Check is here to help. We do all the research and provide you with all the information you need to move forward.

pbVerify Business Credit Check explained in 3 simple steps: 

  1. We do the digging. It’s necessary to dig deep and uncover everything there is to know about who you are potentially going into business with. pbVerify will provide you with data from the Credit Bureau, CIPRO and SARS so you can see all the facts and figures on paper. Having all of this information is critical to risk assessment because it allows you to see if any potential business partners have questionable pasts and shady financial histories.
  2. We help you translate the information we uncover with Business Credit Check. There is no point in handing over multiple reports if you don’t understand what’s on the page. Our website has resources that will assist you in understanding exactly what it is you’re looking at and what it could possibly mean for your business.
  3. Now, it’s up to you to make an informed decision. Once you have all of the necessary information at your disposal, you can better manage and evaluate the risk involved when assessing new debtors. Making a business decision without having complete information is unwise, especially in the ultra-competitive business environment we live in today.

To learn more about Business Credit Check from pbVerify and to understand how it can help your business manage and assess risk, visit our website today!

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Contact us on 011.516.9400 or Email support@pbverify.co.za and we will contact you.

How the deteriorating credit health affects South Africa’s retail sector

TransUnion’s Consumer Credit Index has declined to 43.6% in the second quarter of 2013 from 43.8% in the first quarter of the year. TransUnion, which is an international leader in credit and information management, says that this drop in the Consumer Credit Index (CCI) reflects a deteriorating consumer credit health. According to TransUnion, “Credit Health” refers to the ability of consumers to service existing credit obligations within the constraints of monthly household budgets.

retail“The fall in the CCI reflects escalating consumer loan impairments and sustained growth in distressed borrowing, both indicators of rising household financial stress,” explained TransUnion in a statement to the press.

What is the Consumer Credit Index?

The CCI is a unique indicator of consumer credit health based on a 100-point scale. Deterioration in credit health is represented by an index below 50.0 and an index above 50.0 indicates improving credit health.

“Consumer credit health has now been deteriorating for four straight quarters and the risk of deterioration in the credit cycle has risen materially,” commented TransUnion Africa President, Geoff Muller.

“Credit-sensitive retail sectors need to become increasingly vigilant to the risks this trend poses to their business,” said Muller.

How pbVerify can help

pbVerify, an innovative web service, is already helping many companies in the credit-sensitive retail sector. Our consumer tracing, credit check, ID verification and business credit check tools make it quick, affordable and easy to do the thorough research that is needed before taking on new clients.

“In a tough global economy, it becomes even more important for retailers to mitigate risks. A deteriorating consumer credit health – while not permanent – shows that companies need to be more vigilant with regards to issuing credit and making sure they’re on top of all consumer repayments,” says Leon van der Merwe, Business Development Manager and Anti-Fraud specialist at pbVerify.

If you want to find out how pbVerify can help your business mitigate risks, contact us today. We’ll give you a demonstration on how our system is helping hundreds of other South African businesses.

 

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How pbVerify aids SME companies in South Africa with Risk assessment and Risk management

risk2As a business owner you know that smart risk assessment is a huge part of what makes you successful. Knowing who to do business with and who to avoid is critical and in order to make an informed decision it’s essential that you have access to the complete information. When you enlist the services of pbVerify you’ll get quick and complete information you need that allows you to decide whether it’s worth the risk or not.

Simply visit pbVerify, register and you’ll be on your way to reports that assist you with managing the risk of doing business. Nowhere else to be found, registration is 100% free, you pay no monthly fees (you pay per search) and no software installation is required, only an Internet connection is  needed.

pbVerify is an ideal choice for:

  • Credit grantors. If you’re a business that grants credit accounts to other businesses or consumers, get a full report on a potential client’s credit history before making the decision to grant them additional credit. You always want to know who you’re doing business with.
  • Home loan companies. Want to ensure you aren’t granting a home loan to someone with a sordid financial past who will just disappear, leaving the burden of the debt on you? pbVerify will allow you to view a potential grantee’s financial information and make an informed decision.
  • Micro-lenders. Even companies that solely grant small loans need to be certain that their borrowers are responsible, reliable and plan to pay back the loan. Before you sign that paperwork, run a potential borrower’s name through pbVerify and get an idea of who it is you’re dealing with.

Our goal is to give SME businesses tools to protect themselves and to make informed business decisions involving risk assessment. Unfortunately, many business owners fall prey to scam artists, fraudsters and flat out dishonest individuals and businesses.

pbVerify arms you with the information you need to protect your business.

Back to risk assessment with pbVerify data bureau for Business or speak to a consultant telepathically on 011 516 9400 today.

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Make smart and informed Risk Management decisions with pbVerify

pbVerify Risk Management

pbVerify Risk Management tools

Understanding risk management is essential for the success of your business, as you don’t want to enter into business deals with individuals or other businesses that have sordid financial pasts. Unfortunately, too many honest businesses fall prey to dishonest or irresponsible parties that dont’ fulfil their end of the business deal, whether it’s failure to repay a loan, defaulting on payments or being dishonest about credit histories, and this ends up hurting profits, productivity and reputation.

If you haven’t heard about pbVerify, you’re missing out on an excellent risk management tool that’s been specifically designed for businesses like yours. After registering for free, you’ll have instant access to detailed financial information, credit histories, public trace record information and more. There’s no monthly fee and you only pay per search, and we can supply you with reports on individuals, companies, closed corporations, consumers and properties in South Africa.

What type of companies need a good risk management tool like pbVerify?

  • Credit Grantors (any business selling on account). Whether your business does business with other Businesses or with consumers or both, we have the perfect solution for you. Connect your business to instant, online access to credit and registrar information from all three major credit bureaus, CIPC (previously CIPRO) and Department of Home Affairs (DHA).
  • Real estate companies. Fully vet potential renters and tenants when you use pbVerify. Above all else, you want to be certain that you aren’t putting your business at risk by entering into a business deal with individuals who have a history of not fulfilling their financial obligations.
  • Trace agents. Our consumer trace service is connected to more than 30 million consumer records in South Africa! If you need to locate consumers who have defaulted, this is the service for you.
  • System integrators.  If you need to verify the identity of a consumer, our widely-used system is the perfect tool to help you do so.

Whether doing business with an individual or another business, you want to do everything you can to ensure that it’s a wise choice. pbVerify allows you to make an informed decision.

To get more information about pbVerify, please visit our website today!