news release
Automation of debtors’ books a vital aid to productivity
Increasing numbers of medium-sized South African businesses are following large companies in turning to credit reference agencies to assess and monitor their debtors’ books, according to Experian®, the global information services company.
“More often than not, interactions with existing and prospective trade debtors are manual. Automation is becoming increasingly critical when a business is dealing with thousands of loans,” says Glen Bals, senior executive, business information at Experian South Africa. “Thanks to our extensive databases and analytical capabilities, we are able to automate a lot of the decision making processes to drive significant productivity enhancements for companies using it.
Bals says a typical medium-sized organisation is required to approve between 100 and 150 applications a month.
“In the past, these were processed manually. A drive to greater efficiency, and the fact that many of those skilled in these decision making processes are close to retirement, is causing companies to look at automating the process.”
“Experian’s technology facilitates the making of many credit decisions quickly. These are consistent decisions that are accurate and based on non-subjective criteria. Unless you have someone looking at all the relevant documentation, and interrogating it, the decisions become subjective. Medium-sized organisations are now starting to appreciate process above subjectivity.”
Natasha Horwitz Experian South Africa 011 799 3400 Natasha.Horwitz@experian.co.za
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Jonathan MahapaMeropa Communications +27 11 506-7333 |
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About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit
http://www.experianplc.com
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News release
Avoid credit heartburn…check your credit status
Johannesburg, 22 November 2012 – Analysts are predicting festive season sales to be brisk this December, but consumers should double check their credit rating before spending big this festive season a leading information services company has warned.
Experian South Africa says consumers should be armed with all the necessary information to ensure they have access to the funds they need, but to also prevent them from overspending.
Professional services group Adcorp is expecting “a strong seasonal peak” in employment between November 2012 and February next year mainly as a result of a “resilient” retail sector.
Loane Sharp, Adcorp’s labour economist, this week observed: “The retail sector is doing strikingly well and all of the sectors that are connected to consumer spending, like transport and logistics, and food and clothing manufacturing, should do very well this festive season.”
It is against this background that Michelle Beetar, Managing Director at Experian South Africa, urges consumers to check out their current credit report before they start thinking about spending. “Your credit history needs to be in good shape to allow you to secure credit and you need to be fully aware of your status and your limits,” she cautions.
Beetar encourages consumers to take advantage of the free annual service provided by the credit bureaus as prescribed by the National Credit Act, giving consumers the right to access their credit reports once a year at no cost.
The service is available online and call centre agents are invariably on hand at the bureaus; agents who are trained to assist consumers to better understand their reports and advise them on possible courses of action for remedying any uncertain or negative information.
Beetar also debunks the myth that South African credit bureaus maintain blacklists.
“Because bureaus record both positive as well as negative credit information submitted by credit providers, it is impossible to maintain a one-sided negative report.”
She advises that consumers have the right to dispute the data contained in their reports should they feel the information is incorrect.
“The onus is then on the bureau to investigate that data and to remove it from the consumer’s record should credible evidence exist in support of that information not being accurate.”
Beetar earnestly encourages consumers to take advantage of their right to access their personal credit reports, partly with a view to ensuring they can access the credit they need and partly as a reminder that untoward spending could well result in credit heartburn further down the line.
ENDS
Natasha Horwitz Experian South Africa 011 799 3400 Natasha.Horwitz@experian.co.za
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Jonathan MahapaMeropa Communications +27 11 506-7333 |
Footnote
To access your Experian credit report online and sign-up to receive credit report updates by sms and email, please visit www.creditexpert.co.za . For queries on your Experian credit report please contact Experian Consumer Relations on 0861 10 56 65.
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit
http://www.experianplc.com
.