We all know it is quite important to have credit reports compiled on potential clients, and even existing clients, as this minimises your future credit risk exposure.

Proper credit reports ensure a tight wallet!

Having credit reports done on a regular basis, will keep bad debt surprises down to a minimum, and so your cash flow will be much safer as well.

Here are a few more reasons why credit reports are so important:

  • Tough economic times – you should know the financial status of all your existing and potential clients, to see whether you can afford to extend credit to these companies.
  • The annual cost of credit reports, is much smaller than to have to write off debt of R 50 00.00 or so.
  • Protect your company’s interests, by knowing:
    • whether the Principal has property
    • was Surety signed, worth anything?
    • does the Principal have associated businesses?
    • what opinion does the trade references have of the applicant?
    • was there a recent change of ownership of the applicant?
    • any recent legal action against the applicant?
    • can you afford to raise an existing client’s credit limit, if the client requests it?
  • On the other hand, you can determine who your best paying clients are, and determine whether you want to offer them a higher credit limit, therefore increasing your profit potential.

Our clients rely on our credit reports because:

  • the info is fresh, as in on the day of the report
  • the info is verified, we confirm all information provided by the applicant
  • we obtain a bank code, directly from the applicant’s bankers
  • we contact the trade references provided, and so gauge the applicant’s payment history
  • each report comes with our recommendation, on whether you can extend credit to the applicant
  • this recommendation is based on the many years experience of our senior personnel

So, contact Kredcor now and let’s get the ball rolling.