With the South African economy suffering, businesses are more reliant on credit to stay afloat. Their focus on internal analysis has become more stringent due to the everchanging credit environment.
South African companies are able to meet this need by offering products and services on credit.
However, opening this option to clients exposes businesses to increased risk should they not have sufficient information regarding their debtors. Elula specialises in the vetting of clients putting forward recommendations on trade limits and fraud detection.
Elula Credit Management Solutions uses its wealth of experience to help companies optimise profitability and mitigate loss in this scenario and provides a comprehensive range of credit-related services covering a company’s relationship with debtors from start to finish.
Taking on debtors
Before taking on debtors, a company must conduct an accurate assessment of their credit worthiness.
Through access to the Credit Bureaux, Elula has the vetting capability needed to assess potential debtors and give companies a thorough understanding of the candidate’s financial standing and debt history – before they are granted credit.
Once approved, Elula’s managed services then empowers its clients with continued insight into their debtors’ behaviour.
This is provided through monthly management reports and business monitoring, which updates companies on debtor changes and makes recommendations to enable them to act early on delinquent customers.
Elula can also draw up and provide an in-depth, regulated, and efficient Credit Policy for companies based on their unique requirements.
In the event of payment failures, Elula assists with the debt collection process – which can include taking legal action such as the sending of final demands and visits to the customer.
Elula offers excellent rates for the credit vetting of potential debtors, and a range of monthly credit management packages – which are tied to the number of debtors of a client company.
Over 50 years of experience
Elula directors Ruwayda Petersen and Donna Furmidge possess a combined experience of over 50 years in the Credit Insurance industry.
In conjunction with their network of contacts built up over this time, Elula will assist a company in achieving success in the management of their cashflow to unlock debtor value while managing credit effectively.