If you haven’t dealt with a Customer for over 12 months, do you rely on your previous credit application information and credit check data to resurrect the account?

If you answered yes, then you could be gearing up for big credit risk.

Don’t assume that all the details you have in your system are current. Make the call! Contact your Customer and have that conversation about their current credit status. Or take the time to obtain updated credit data from your designated Credit Information Bureau. If this is not a usual task undertaken to establish credit risk, you should include this for all new accounts.

It can be a 10 minute exercise that can determine the credit worthiness of any potential business opportunity that wants a credit facility. Existing customers can also be checked on a regular basis.

Any chargeback account that hasn’t been used for 12 months should be reviewed and new documentation updated and signed. This will make you well-informed of future credit risk.

If you are short on time and want to carry out checks on bulk accounts, we can accommodate your needs.

Contact us to discuss your requirements. We are here to help, with simple and practical advice and solutions to enhance your business processes.