BusinessInvoice DiscountingMarketingPress Release

BizcCash and Debtsource team up to help grow SME’s

Bizcash Debtsource

Bizcash and Debtsource

When two well run and knowledgeable companies in their respective fields join forces to offer clients a broader range of solutions, you can only expect great things to happen.

Combining the technology of the Bizcash platform with their specialities in selective invoice discounting and business loans together with Debtsource’s experience in credit and risk management, this powerhouse team of experts puts the control back into the hands of business owners as they assist them with cash flow challenges, management of bad debts, risk management and corporate governance.

The common thread with both companies is their passion to work hand in hand with their clients as a true financial services partner.

So often the owners of SME companies need a partner to work with them, with their company’s best interest at heart.

The simplicity of the Bizcash platform, allows business owners to self-manage their finances, invoices, loans and repayments in a user friendly manner with all the required information available at a glance and at their fingertips.

“I have worked with the team at Debstsource for a number of years and this partnership was a logical next step in growing both of our companies, and helping small businesses excel” said Sean Waywell, CEO of Alternative Finance Solutions. “Our businesses complement each other so well and we have the same vision for the future of South African companies.”

“For all the good that Debtsource can do to help companies manage their credit extension processes as efficiently as possible, there will still be times when there is cashflow pressure” said Frank Knight, CEO of Debtsource.

“It is for these moments in the growth curve of any business that the Debtsource / Bizcash partnership becomes invaluable.

Debtsource helps our clients implement and manage effective credit process, while Bizcash provides the funding. It just makes sense.”

Alternative Finance Solutions (PTY)Ltd (AFS), trading as Bizcash, founded in 2017, is a specialized selective invoice discounting, purchase order finance and business sloan finance house that is passionate about solving entrepreneur business cash flow problems.

Founders of the company have combined experience of over 50 years of financing entrepreneurs.

The majority shareholders of AFS are Preference Capital (PTY) Ltd, a leading provider of growth finance, insurance and data services to small and medium enterprises (www.prefcap.co.za).

Last year, AFS acquired the assets and IT platform of Bizcash (PTY) Ltd (www.bizcash.co.za) one of South Africa’s leading online invoice discounting platforms, from Invotec (PTY) Ltd, a wholly owned subsidiary of Reichmans Holdings, a member of the Investec Group.

The system having being built by entrepreneurs for a bank has ensured that there are a number of bank grade features and processes already built, tested and functioning every day making it an extremely robust platform.

They recently went live with a business loan product offering which was built using the same tried and tested technology of the selective invoice discounting product.

Debtsource is a specialist credit management company that provides complete solutions for any business that extends credit to their customers.

Started in 2003, the company is staffed by individuals with extensive credit management and trade credit insurance experience.

The business goal is to help customers better manage their risk and to use credit as their competitive advantage.

Ultimately this is what credit management was designed to do – Not only to collect overdue accounts or to avoid bad debts, but also to enable a company to achieve maximum profitability from trading on credit.

Debtsource is a member of the GIB Group of companies, which was founded in 1982. Through the GIB Africa Alliance they have created a network of short-term insurance brokers in 43 African countries, and through the Farosol alliance, they represent multi-nationals locally.

For any enquiries, contact Bizcash on 0861 93 93 93, Debtsource on 011 348 7000 or visit the website at www.debtsource.bizcash.co.za

Alternative Finance Solutions is a proud member of the Preference Capital Group and sole owner of BizCash, a business finance company.

Contact them here:

Bizcash: 0861 93 93 93

www.bizcash.co.za