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Do you need to improve your bottom line, minimize your losses, retain your valuable clients and hence create an enduring business with sustainable revenue growth?

Our core sectors of expertise are Credit Management, Money and Debt Advice,Debt Collection, Court Enforcement & Taking Control of Goods

DEBT COLLECTION

DEBT COLLECTION
So near yet so far

There will be times when you will encounter overdue accounts. And you know too well that bad debtors can significantly impact your business. Achieving business growth becomes more difficult and your profits become eroded.

If your company finds it tough to collect debts, you can leave that aspect to debt collection agencies, such as Excel Credit whose primary mission is to help companies collect money or property owed to them.

Here are the aspects of credit management that Excel Credit can help you with:

Pros

  • Preventing bad debts. Certainly, an ounce of prevention is way better than a pound of cure. Sometimes, you may not have the ability to spot a potential bad debtor. Excel Credit analyzes the credit history of potential clients to find out if they can settle their debt in a timely fashion once their credit is approved.
  • Cost-effective debt collection. Sometimes, there are legal costs involved when collecting debts. Excel Credit can help your company defer those costs and collect those debts quickly and in a cost-effective manner.
  • Credit management advice. Debt collection services don’t stop once the debts have been recovered. Excel Credit provides you with helpful advice on credit management that your company will find really useful.
  • Excel Credit, a professional debt collector can collect when you can’t. Delinquent debtors may not respond to your collection efforts, but put Excel Credit on the job and the bills often get paid. Once a debt becomes delinquent, a professional debt collector has the advantage because they’re generally more consistent and assertive,
  • Excel Credit frees up your time and resources. Debt collection can be very time-consuming, especially for the small-business owner who would prefer to practice their chosen profession. Contacting slow-paying accounts means sending letters and making phone calls & most people have caller ID, which makes it tricky if they’re trying to avoid you.
  • Excel Credit has tools that you don’t. Effective debt collectors use advanced tools to help locate and communicate with debtors, using new telephone technologies and third-party sources that grant access to debtor information. Also, they are in constant communication with debtors through written and verbal means.

The potential Cons & how Excel Credit deals with them

  • Debt collectors charge a hefty fee- Excel Credit is only paid a minimal fee based on collection. "No collection, No fees"
  • Debt collectors may affect client relations. The Excel team have superior communication skills & always comply with regulations and are respectful.
  • Make the first step of collecting those long overdue debts. Hire professional debt collectors and see your company’s financial health take off further.

GOOD CREDIT CONTROL

GOOD CREDIT CONROL
Lots of things to keep track of?

A credit control policy defines the Credit Management function and outlines its objectives, scope and responsibilities. Specifically:

  • Credit Assessment and the granting of credit limits
  • Collections processes
  • Authority Levels (credit limit, transactions and bad/doubtful debt)
  • Payment collection, allocation and application

A good Credit Policy should be subject to continual change, and such revisions and changes are usually the responsibility of the Credit Manager to issue revisions and individual department heads to ensure the use of the latest version.

With organisations increasingly using internal company intranets or shared network drive folders, the need for printed copies is becoming less important and revising the documents becomes easier with one amendment being made and an emailed link to the new document circulated.

Your Credit Policy and procedures should be an accessible document, used as part of the induction process to the Credit Management Team. This does not have to be an extensive document that details every procedure in minute detail

The information in a Credit Policy should be clearly understood by all customer facing staff not least sales who need to understand the boundaries within which they must work to generate sales, revenue and margin for the company.

Credit Policies differ from company to company , one size doesn’t fit every company and neither does a single set of contents.

The Credit Policy should be signed by the Senior Management, Board of Directors including the Directors of Sales, Finance and Customer Services and circulated to all customer facing management and their teams.

Do you agree? Please let us know

GOOD CREDIT MANAGERS

GOOD CREDIT MANAGERS
Get the right fit for your needs

For any firm that allows its buyers to finance their purchase, credit management is an important operation, as it impacts massively on cash flow and the amount of available capital. A credit manager is therefore vital & it pays to employ a specialist.

To ensure the right approach is taken

Each business will have its own credit procedures and policies, with terms and debt collection practices typically changing between firms. Employing an in-house specialist will allow this approach to remain consistent and be relevant to the customer’s needs, while processes can also be refined.

Control is yours

Outsourcing credit management comes with its own risks, and having a specialist on board eliminates them and keeps control firmly in your hands. Policy changes can be implemented quickly, and you’re not competing with other firms for the attention of a third party.

Formation of strong relationships

With a point of contact within your business representing the credit management operation, stronger customer relationships can be built. This not only helps you retain these buyers by personalizing customer service and adding value, it can also shorten days sales outstanding (DSO) as they will be more willing to pay on time.

Investment in a credit management specialist is a worthwhile expenditure, as maintaining a healthy stream of cash into the business from debtors is key to keeping it running smoothly. Credit checking is one aspect that can remain outsourced, as it frees up resources to be spent on important day-to-day tasks.

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CREDIT REFERENCE BUREAUS

CREDIT REFERENCE BUREAUS
The right information is vital for success

CRBs help creditors /lenders make faster and more accurate credit decisions. They collect, manage and disseminate customer information to lenders with in a provided regulatory framework.

Credit bureaus assist in making credit accessible to more people, and enabling lenders and businesses reduce risk and fraud.

An updated list of licensed credit reference bureaus can be found here.

Loan defaulters in East Africa could soon have nowhere to hide as credit reference bureaus move to open outlets across the region. Cross-border credit information sharing has been in the pipeline for more than three years.

Creditinfo has operations in Tanzania and Kenya. Meanwhile, the Kenyan-owned Metropol Credit Reference Bureau Ltd is conducting feasibility studies in the Ugandan, Tanzanian and Rwandan markets with plans to set up subsidiaries there by the end of the year. Additionally, CRBAfrica Credit Reference Bureau operates in both Kenya and Rwanda.

The Banking (Credit Reference Bureau) Regulations 2008, governs licensing, operation and supervision of CRBs by the Central Bank of Kenya. The development of a sustainable information sharing industry is a key component of financial sector reforms in almost all developing and emerging economies.

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Your credit management solutions provider in Kenya

ADDRESS
Excel Credit Management Solutions, P. O. Box 90057, 80100 GPO, MOMBASA – KENYA

CONTACTS
Email: info@excel-credit.com
Phone:+254 725 615705
Or:+254 770 399311

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