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.

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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MYpbVerify personal credit check website launches!

Your trusted name in credit bureau data systems, pbVerify is proud to launch the new online personal credit check website, MYpbVerify™ for private consumer credit reports. If you live in South Africa and want a secure, discreet and fast way to get your credit report, this is it!

MYpbVerify Girl

pbVerify and MypbVerify – Personal and Business Credit check

As the local leader in customer communication technologies, Pitney Bowes is excited to be able to launch this newly developed tool to the market.

Here’s what you need to know:

Your credit information is gathered by credit bureaus on a regular basis from various sources that have extended you credit. Retailers, banks, lenders, employers, landlords, and other credit providers have access to your credit records to assist them with credit risk management in deciding whether to grant you further credit, a loan, a credit card, new employment, housing, or to offer you new products and services.

As a consumer it is critical for you to know your credit status and always have a complete picture of your credit history and credit score.

The MYpbVerify™ premium credit report considers all possible influences that may exist on your credit rating and combines it into one, easy to read credit check report that gives you a full picture of your credit history and credit status in the market.

Basic, Standard and Premium Reports:

MYpbVerify™ not only gives you instant online access to your personal CREDIT REPORT, it allows you to customise your credit report with variable information and pricing options to choose from.

Depending on your status and credit history, you have the option to choose from a Basic credit report to more advanced options in the Standard and Premium reports that will include Directorship information, Deeds (properties owned) data, your personal Compuscore rating and more…

The most versatile personal credit check on the Net!

Contact our support line on 011 516 9400 or visit MYpbVerify today!

How the debt crisis is affecting SME’s and retailers

Debt Crisis looming for SME businesses in SA

Debt Crisis looming for SME businesses in SA

When it comes to mitigating risks, SME’s need to invest in a credit check and ID verification tool that can help them determine whether they are investing in a mutually beneficial partnership with potential customers and business partners. As any business owner knows, time are tough – but new research shows that things might get worse before they start getting better.

A recent debt survey done by Fin24 has shown that a mere 2.06% (647) of over 32 000 respondents have no debt. Over two thousand people participated in the survey, which also showed that almost 42% (12 522) respondents spend 80% of their income on repaying debt. Almost 2 800 people spend their whole income on debt, while 2 500 people have debt repayments which exceed their income.

These are significant stats and figures for anyone who’s trying to run a business in South Africa. Credit checks and ID verifications are beneficial for SME’s for a number of reasons, says Leon van der Merwe, Business Development Manager and Anti-Fraud specialist at pbVerify.

“Besides the high number of South African consumers who can’t actually afford to take on more debt, there’s also a risk of ID fraud,” explains van der Merwe before adding that the Fin24 survey also revealed that many people were turning to micro lenders and using their retail accounts and credit cards to simply survive.

“Over 50% of the respondents of this survey earn between R10 000 and R30 000 per month, which shows that it’s not necessarily low LSM groups who are dealing with unmanageable debts,” says van der Merwe.

Managing risk starts with doing research about new business partners and consumers. If you want a credit check and ID verification tool that will help you manage your risks, learn more about pbVerify today.

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What customers are saying about Pitney Bowes’ pbVerify…

Customers across South Africa have been ecstatic about the quick, accurate solutions that pbVerify offers. If you need an online tracing, consumer or ID check solution, we’ve got the all-in-one tool for you.

pbVerify Customer Testimonials

What customers are saying about Pitney Bowes’ pbVerify

Here are a few testimonials from our clients;

Heilke Van Loon, Financial Manager at Borwa Financial Solutions, says that pbVerify definitely delivered on their promise about delivering quick and accurate online tracing solutions. Any business can sell a promise, but only service providers sell the performance of the promise. Pitney Bowes definitely belong to the latter bracket. All of the four managers who use this service in our company have been satisfied with the level of service; this including both turnaround times in attending to any issues, and pro-active support and product development initiatives,” says Heilke.

Kaajal Mackerduth from Genissis Cash Car Rental says that their company has found the online credit check system particularly useful.  “Thank you, Pitney Bowes, for the fantastic services received by our company on the pbVerify system,” commented Kaajal from Genissis Cash Car Rental.

“We are very happy with the service that our company has received from the pbVerify support team,” agreed Laurie Liebenberg from Liebenberg Opspoorders.

“The pbVerify system works very well. It helps us to determine if an ID book is valid,” said Vanessa from Convert Cash regarding pbVerify’s online identification check solutions.

Nicky Jardim-Mostert from Metal Industries Benefit Funds Administrators says they have been using the pbVerify ID verification tool for almost two years and they are still very satisfied with the ease-of-use and customer support that pbVerify offers. “pbVerify is very user friendly, accurate and all in real-time, which other databases cannot always offer! I would recommend this facility to any company – Metal Industries Benefit Funds Administrators,” says Nicky.

Interested in learning more about how our online consumer tracing tool has helped companies across South Africa do business? Then give us a call today on 011 516 9400 or visit www.pbverify.co.za.

Why finding outstanding debtors in SA is so hard… and how to solve the problem

tracing1Online Credit Check and Tracing has never been easier than with pbVerify. Any business owner will tell you that minimising risk and minimising loss are two extremely delicate components of running a successful business, and having a reliable consumer tracing system is part of the key to that success. You have the right to view the full and complete financial information of any consumers you do business with, but obtaining that information has been difficult in the past.

pbVerify was created with small to medium sized businesses in mind. In the past, if you wanted to run a consumer trace, it required subscriptions to all of the major credit check bureaus, which charge you costly monthly fees. There was no comprehensive, streamlined process that allowed you to get the information you need with a few clicks of the mouse… until now.

One appealing aspect of pbVerify is that it requires no monthly subscription; you simply pay per search! This saves you the expense of paying for access to multiple credit check bureaus that you seldom use and allows you to pay for only what you use. pbVerify requires no special software and it’s user-friendly and instant. With a few quick clicks of the mouse, you will be provided with all of the online search and trace information you need that is required to make informed business decisions.

Unfortunately, identity thefts, fraud, defaulting on payments or simply not making any payments are growing problems in today’s business environment. It’s essential that you have all of the information necessary in order to make smart decisions for your company, and pbVerify’s goal is to give all business owners a comprehensive, easy to use system that accomplishes just that.

Register with pbVerify today and start conducting online tracing searches instantly!

pbVerify helps financial services companies become FICA compliant

identity_verificationFICA compliancy for financial services:

If you’re a financial services company in South Africa, did you know there are steps you must take in order to become FICA compliant? You have probably heard about the legislation passed by the Financial Intelligence Centre entitled FICA – or Financial Intelligence Centre Act; the purpose of this legislation is to provide further transparency for financial services companies throughout the country in order to eradicate money laundering, scams, corruption and dishonest business practices.

Essentially, financial services companies such as micro-lenders, auto loan companies and home loan companies must reassess their entire client list in order to ensure that all clients’ identities and finances can be verified. Think of it as a sweeping credit check to everyone in the existing database – it’s a way to identify and handle anyone who poses a potential problem to your company.

You can use pbVerify to help your company become FICA compliant:

  • Online credit checks. Need to find out your clients’ complete credit history? It’s easier than ever before with pbVerify. Our system is user-friendly and efficient, and you’ll have instant access to the complete financial information that you need.
  • Risk management and risk assessment. FICA legislation requires all financial services companies to reassess their books. In addition to re-evaluating current clients, pbVerify can also help you make an informed decision when it comes to taking on new debtors. In this competitive business climate, you need to be certain that you’re making the right decision and not getting involved with people or companies that have questionable financial histories.
  • ID Verification. Our online ID verification solutions and ID-verify API (Application Programming Interface) are in use by some of the country’s largest financial institutions, retailers and system integrators for FICA compliancy and other identification solutions. Our XML data can integrate with almost any platform and provide a fast, but stable platform to build real-time intelligence into your systems with automated consumer ID information on-demand.     

Enlist the services of pbVerify today and your company will be on its way to being fully FICA compliant. In the end, FICA benefits everyone as it aims to eradicate dishonest business practices, money laundering, fraud and scams. Contact us today or visit our website to learn more about pbVerify.