{"id":6187,"date":"2019-08-26T11:18:44","date_gmt":"2019-08-26T09:18:44","guid":{"rendered":"https:\/\/dev.datanamixdev.wpengine.com\/?p=6187"},"modified":"2023-09-21T13:54:15","modified_gmt":"2023-09-21T11:54:15","slug":"credit-vetting-an-essential-key-to-sme-success","status":"publish","type":"post","link":"https:\/\/www.datanamix.com\/media\/2019\/08\/26\/credit-vetting-an-essential-key-to-sme-success\/","title":{"rendered":"Credit vetting \u2013 an essential key to SME success"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>For SMEs, sound risk management via credit vetting is not only advisable, it is absolutely essential.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wasting precious time and resources chasing down debtors for money is not only undesirable for any business, it can be downright destructive. The good news is, there is a way to avoid this \u2013 and it is inexpensive and painless. Two words: credit check.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are in business, you will know that cash flow is king. This is especially true in the in the small to medium enterprise (SME) environment, where finances are particularly tight. Clients that default on payments can \u2013 and inevitably&nbsp;<em>do<\/em>&nbsp;\u2013 seriously jeapordise the success of your company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A foolproof way to protect your business \u2013 and ultimately boost its financial fitness \u2013 is through consistent credit vetting.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Credit vetting is simply the process of affirming the credit worthiness of customers in terms of financials. Checking the credit status of your clients greatly minimises uncertainty around whether your invoices will be paid, as it provides an overview of their credit rating and reveals whether there are any judgements against them, or whether they have defaulted on payments in the past.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Simple step towards success<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Leon van der Merwe, senior business development manager at customer communications firm PBSA, the percentage of small simply overlooking this critical process is staggering.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSimply 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.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A detailed credit application document with the correct capture information, credit vetting consent and related terms of agreement will protect the financial wellbeing of your organisation, he adds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All of this can be easily accessed via pbVerify, a PBSA product that offers a user-friendly&nbsp;online credit vetting service. Specifically for small to medium sized businesses, pbVerify is connected to all major credit bureaux and credit data providers and is credible and accurate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cNeglecting this crucial step towards managing a successful business can cost you profoundly. Having an overview of the credit worthiness of potential customers, on the other hand, will help you make better decisions, in turn saving you time, trouble and money,\u201d concludes Van der Merwe.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For a comprehensive view of all pbVerify\u2019s vetting solutions, please visit&nbsp;<a href=\"https:\/\/www.datanamix.com\/\">www.www.datanamix.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For SMEs, sound risk management via credit vetting is not only advisable, it is absolutely essential. Wasting precious time and resources chasing down debtors for money is not only undesirable for any business, it can be downright destructive. The good news is, there is a way to avoid this \u2013 and it is inexpensive and [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":8709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-6187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-datanamix-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Credit vetting \u2013 an essential key to SME success - Datanamix - News and Blog Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.datanamix.com\/media\/2019\/08\/26\/credit-vetting-an-essential-key-to-sme-success\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit vetting \u2013 an essential key to SME success\" \/>\n<meta property=\"og:description\" content=\"For SMEs, sound risk management via credit vetting is not only advisable, it is absolutely essential. Wasting precious time and resources chasing down debtors for money is not only undesirable for any business, it can be downright destructive. 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