Tip of the day: a solution for unpaid South African invoices!

If you speak Dutch and have heard of the South African expression « Dit help nie om oor vermorste melk te huil nie », they’ll know it translate to Flemish as « Gedane zaken nemen geen keer ». It means that “It does not help to cry over wasted milk”, hence, to lament over the past.  A significant proportion of South Africans speak Afrikaans, an evolution of the language spoken by the Dutch settlers in the 17th century.  Our local partner, Credit Solutions Services, likes the local sayings and specifically this one. They remedy the past mishaps in the way that they collect unpaid invoices. Hence, no lamenting but curing action.

To start with: why commerce with South Africa?

According to the European discussion paper on investment in South-Africa (Sep 2018), South Africa is “the European Union’s only Strategic Partner in Africa”. Moreover, “EU is South Africa’s first trading and investment partner, […]”. and over 500 000 jobs in ZA depend on this relationship.

These facts were stressed again in the EU-South Africa summit on 15 Nov 2018 where EU’s President Tusk stated that “South Africa is a key player, both regionally and globally, and we will step-up our cooperation accordingly, to defend our shared values and interests. These include support for multilateral solutions, including trading system, and the rules-based global order, […]”.

However, trade implies a common threat: receivables!

It will happen, in South Africa and elsewhere, that your invoice remains unpaid. Our local partner Credit Solution Services (CSS) is there to handle such problems. Their 800 employees and 19 years of experience, offices in Johannesburg (Rosebank), Cape Town and Durban make that if there is a solution, they’ll find it.

Their human resources are diversified and trained. Technological innovation (a specificity of the TCM Group) and efficient procedures generate case by case results despite the volume they handle. They offer client dedicated solutions and a specific follow up per client.

Extended internal and external assistance

CSS is also strictly committed to good business practice and ethics in debt collection process. They consider themselves as an extension of their clients (the creditors) and focus on excellent communication with debtors and clients.

CSS is registered with controlling authorities like the “Council for Debt Collectors”, the “Association of Debt Recovery Agents”’, the “Financial Services Board” and the “Payment System Stakeholder Forum (PSSF)”. They have a close relationship with “Brooks & Luyt Inc”, a law firm which is registered with the “Legal Practice Council of South Africa”.  These affiliations require compliance with several norms and naturally with consumer protection texts.

Additionally, internal departments focus on specific aspects like CSS Technology that develops software and CSS Training that offer education both for employees and for external persons.

Good to know

South Africa has various regulatory bodies that assist the debtor / consumer with any complaints or frustrations they may have which require that we follow legislation and compliance very carefully. It is therefore extremely important that one has all the necessary supporting documentation, financial calculations and paperwork in place when pursuing a debt in South Africa. Debtors are known to claim prescription (when a claim is more than 3 years old and has not been acknowledged). Our IT systems are therefore designed to ensure all claims are worked and legal process is initiated before prescription can occur.

This all gives you peace of mind that your matter is being handled with the utmost integrity and professionalism and with our clients’ best interests at heart.

You wish to know more on debt collection solutions in South Africa? Please contact us. You may also find our pointdrive presentation useful.

Tip of the day: a solution for unpaid South African invoices!

If you speak Dutch and have heard of the South African expression « Dit help nie om oor vermorste melk te huil nie », they’ll know it translate to Flemish as « Gedane zaken nemen geen keer ». It means that “It does not help to cry over wasted milk”, hence, to lament over the past.  A significant proportion of South Africans speak Afrikaans, an evolution of the language spoken by the Dutch settlers in the 17th century.  Our local partner, Credit Solutions Services, likes the local sayings and specifically this one. They remedy the past mishaps in the way that they collect unpaid invoices. Hence, no lamenting but curing action.

To start with: why commerce with South Africa?

According to the European discussion paper on investment in South-Africa (Sep 2018), South Africa is “the European Union’s only Strategic Partner in Africa”. Moreover, “EU is South Africa’s first trading and investment partner, […]”. and over 500 000 jobs in ZA depend on this relationship.

These facts were stressed again in the EU-South Africa summit on 15 Nov 2018 where EU’s President Tusk stated that “South Africa is a key player, both regionally and globally, and we will step-up our cooperation accordingly, to defend our shared values and interests. These include support for multilateral solutions, including trading system, and the rules-based global order, […]”.

However, trade implies a common threat: receivables!

It will happen, in South Africa and elsewhere, that your invoice remains unpaid. Our local partner Credit Solution Services (CSS) is there to handle such problems. Their 800 employees and 19 years of experience, offices in Johannesburg (Rosebank), Cape Town and Durban make that if there is a solution, they’ll find it.

Their human resources are diversified and trained. Technological innovation (a specificity of the TCM Group) and efficient procedures generate case by case results despite the volume they handle. They offer client dedicated solutions and a specific follow up per client.

Extended internal and external assistance

CSS is also strictly committed to good business practice and ethics in debt collection process. They consider themselves as an extension of their clients (the creditors) and focus on excellent communication with debtors and clients.

CSS is registered with controlling authorities like the “Council for Debt Collectors”, the “Association of Debt Recovery Agents”’, the “Financial Services Board” and the “Payment System Stakeholder Forum (PSSF)”. They have a close relationship with “Brooks & Luyt Inc”, a law firm which is registered with the “Legal Practice Council of South Africa”.  These affiliations require compliance with several norms and naturally with consumer protection texts.

Additionally, internal departments focus on specific aspects like CSS Technology that develops software and CSS Training that offer education both for employees and for external persons.

Good to know

South Africa has various regulatory bodies that assist the debtor / consumer with any complaints or frustrations they may have which require that we follow legislation and compliance very carefully. It is therefore extremely important that one has all the necessary supporting documentation, financial calculations and paperwork in place when pursuing a debt in South Africa. Debtors are known to claim prescription (when a claim is more than 3 years old and has not been acknowledged). Our IT systems are therefore designed to ensure all claims are worked and legal process is initiated before prescription can occur.

This all gives you peace of mind that your matter is being handled with the utmost integrity and professionalism and with our clients’ best interests at heart.

You wish to know more on debt collection solutions in South Africa? Please contact us. You may also find our pointdrive presentation useful.