When two well run and knowledgeable companies in their respective fields join forces to offer clients a broader range of solutions, you can only expect great things to happen. Combining the technology of the Bizcash platform with their specialities in selective invoice discounting and business loans together with Debtsource’s experience in credit and risk management, this powerhouse team of experts puts the control back into the hands of business owners as they assist them with cash flow challenges, management of bad debts, risk management and corporate governance. The common thread with both companies is their passion to work hand in hand with their clients as a true financial services partner. […]
Dear Valued Client As we navigate through these turbulent times, be advised that we have taken necessary steps to provide uninterrupted service to you. We have contingency processes and advanced systems in place for this kind of eventuality and we therefore foresee less disruptions than would otherwise be the case. The entire Debtsource team is available during normal working hours and we will be online and on call for the duration. Despite this, there will undoubtedly be delays in services and we therefore apologise in advance and thank you for your understanding. We wish you, your families and staff good health during these uncertain times.
With the looming national lockdown due to commence at midnight on 26 March 2020, commercial credit grantors are very likely to experience a flood of requests for extended payment terms from debtors. Trade credit transactions are typically based on 30 days from statement trading terms, however many debtors are likely to default on these terms at the end of April, May and possibly June 2020 as a result of the loss of income during the 21 day lockdown period. Customers are also likely to request longer terms in their droves, so best to prepare the strategy for when this happens. The considerations for temporarily extending payment terms are: […]
Over the past few years there have been persistent rumours that South African banks will no longer be providing bank codes. In October 2019 this possibility became a reality when Citibank and Investec announced that they will not be supplying codes. Following this, Standard Bank announced that they will also not be providing bank codes with effect from 1 November 2019. While none of South Africa’s other big banks have yet followed suit, it is expected that they may well do so in the near future. Bank codes have been a uniquely Southern African phenomenon for many years, as international banks do not provide bank codes. Local credit providers in […]