The impact of the COVID pandemic on credit & cash flow.
What we do
Improve your cash flow with Veri-Credit
Membership with Veri-Credit is specifically aimed at substantially improving management of Accounts Receivable, increasing the company’s cash flow by significantly reducing its D.B.T. (Days Beyond Terms).
Where most companies extending credit facilities will finance their debt or abuse with an overdraft facility, Veri-Credit helps prevent debts arising and so avoids escalating bank charges. In addition, other costs incurred such as man-hours, debt collection charges,
legal fees and debt write-offs are dramatically reduced or even eliminated.
The purpose of exchanging information is to assist credit managers to make competent and realistic credit decisions about current or potential customers credit risks.
Quickly defining concrete actions and anticipating the possible developments according to different scenarios makes it significantly easier for businesses to overcome the cash flow difficulties created by this pandemic.
Veri-Credit’s unique online platform dramatically improves the quality, cost and delivery of trade credit information within a member’s secure online portal.
Veri-Credit memberships are available for members of Trade Associations (‘Industry Credit Group’) and individual businesses (‘Direct Subscriber’).
TradeSure
Prompt Payment Chaser (PPC)
Veri-Credit Stamp
Veri-Cheque
Business Reports
Credit Management Audits
Auto Alert
Free Advice Line
Membership
Benefits of a Veri-Credit membership
Stimulate payment compliance
A globally, time-proven method to stimulate compliance of credit terms by slow payers.
Access trade payment information
Access to current trade payment information as a proactive means to reduce credit risks.
Verifying of credit information
A means of verifying credit information, reports and other credit facts which the member may use to determine their
own credit decisions.
Compliant information
Guarantees that the credit information collected and published is in accordance with any relevant Central Bank Regulation and Data Protection Act.
Leverage of funds
Powerful leverage of funds owed by bad debtors.
Opportunity to exchange payment experience
An opportunity to exchange payment experience on mutual customers and obtain credit information not available from any other source.
Collect, compile, quality assure and publish DBT
A secure, confidential means to collect, compile, quality assure and publish DBT (Days Beyond Terms) trading credit information as submitted anonymously by its members, nationwide.
Identify & monitor high risk credit customers
A proven resource to identify and monitor high risk credit customers.
Become a member of Veri-Credit...
... and improve your cashflow, reduce the incidence of debts and minimise future credit risks.
The Covid-19 pandemic has had a major impact on all aspects of daily life in Kenya and undeniably also on businesses nationwide.