Credit Control – The Heart of any Business

Credit control is at the heart of any business and has an important role to play in maintaining good relations with its customers, both internal and external. For one to have a complete credit management solution, it will involve credit policies consultation together with necessary credit tools implementation. Genuity-ICS can be "tailor-made" to best suit your credit & collections operations.

What is the purpose of having an integrated credit solution?

1) Assist & improve Credit & Collection Strategy
2) Maximizing cash flow & Minimizing Bad Debts
3) Implements Preventive Tools and at the same time, reduce unfavorable accounts

Many companies fail due to poor cash flow management, in most occasions it is caused by weak credit control procedures. Credit control does not start with chasing overdue accounts. It should begin with credit checking and sales order processing, followed by communicating the credit terms and limits prior to account opening and invoicing. Therefore a systematic collection procedure (including measurement of results) needs to be implemented.

DP Info will spend a day or two with your company, to set up or review existing procedures at every stage of the cycle. Written recommendations will then be made to reduce credit risk and improve collection rates. DP Info will involve your staff to derive the customized solution for your company. Through this review and involvement process, rejections to the change will be minimized and recommendations will more likely be successfully implemented. Other activities include staff training, a one-time cleanup of accounts that need immediate attention of the expert credit consultants in DP Info. Follow up visits are also made to ensure the proper implementation of the collection procedure.

For pre-credit checks cycle, our DP SME Commercial Credit Bureau provides credit grantors information relating to the credit history of individuals or businesses. The credit bureau also contains an identification number on the individual and/or business to ensure proper records are maintained. Pertinent information relating to the subject's creditworthiness and an indication of the overall risk relating to their repayment methods and behavior will be conveyed to other approved parties.

The credit bureau provides an avenue for the verification or validation of any information that may be questioned or disputed by the subject of the credit profile. A credit bureau serves both parties in a credit transaction and is an excellent tool to reduce risk and at the same time accelerate the approval process. As an on-going credit check, our DP SME Commercial Credit Bureau value-add with email alerts to all subscribers whenever there are overdue payments detected from the contributed lists.

Another unique feature included in our Genuity-ICS includes Genuity, our in-house credit collections software that can help you better manage your Account Receivables and Bottom Line, Improve Cash Flow and Develop Customer Value. This collections software is developed through the accumulated experience and knowledge of Singapore's most experienced debt collection agency. It's usefulness has been tested and proven.

Genuity is equipped with many tools to suit the way you do business such as:
o Collection Policy to control the collection timeline
o Debt Recovery Analysis to identify and provide a complete view of the outstanding balance
o Credit Limit Analysis to furnish the credit limit status
o Cash Flow Projection to provide an estimation of future collection