Business Essentials

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ICT Recognitions

ICT VP (Available to All)

ICT Circle recognizes partners above the normal by providing them a level of accreditation which is called as ICT Circle Verified Partner (ICT VP). This level is earned when the partner fulfills all the statutory documentation, such as

  • Completion of Form
  • Current Business Trade License
  • Bank Details (Active Business Bank Account details)
  • Physical Identification
  • Owner Identity (Emirates ID, Passport Copy with Visa page)
  • Business Registration

ICT CP (All Paid Subscribers)

ICT Circle acclaims the contribution of the paid subscribers by awarding them higher recognition which is called as ICT Circle Certified Partner (ICT CP). This level is earned when the partner is a paid subscriber and fulfills all statutory documentation, such as

  • Completion of Form
  • Current Business Trade License
  • Bank Details (Active Business Bank Account details)
  • Physical Identification
  • Owner Identity (Emirates ID, Passport Copy with Visa page)
  • Business Registration

Institutional Recognitions

Business Information Report

One of the most trusted sources of business information, the Business Information Report (BIR) helps determine a company's profitability, financial stability, and payment performance. It is an industry standard for evaluating both new and existing credit relationships, especially medium-to-high risk accounts. Also, it supports the company's other divisions, like marketing and procurement.

The Business Information Report provides an overall profile of a company, including financial information, payment history, trends, history of business, ownership details, operational data, and details on related firms and special events (such as business moves, fires, and other disasters, and Quarterly Performance).

Benefits of Business Information Report:

  • Assess the health and future viability of a company
  • Verify that a business exists and check its size and purpose
  • Review the background of owners and key employees
  • Identify company payment patterns and financial trends
  • Includes legal information to research possible fraud (if available from sources)

Business Rating Report

Business Rating Reports: A proactive tool for businesses seeking to establish an updated profile thereby positioning the true picture to stakeholders globally.

As companies globalize in the VUCA (Volatile, Uncertain, Complex and Ambiguous) environment, trust and credibility are critical components that cannot be ignored. Stakeholders consider facts based conclusive information available on these businesses for taking decisions such as extending a partnership, renew current agreements or merely for transacting purposes. Therefore, for businesses to thrive, it is imperative to factor risks both inherent and driven in opportunity.

Benefits of Business Rating Report

  • Establish your credibility on a global platform
  • Enable quicker and better-informed decisions for your stakeholder
  • Key differentiator between you and your peers
  • Builds confidence of key stakeholders & assists in enhancing your bargaining power
  • Acts as a catalyst in generating interest among potential trading partners globally

Credit Scores and Analytics

Benefits of Credit scores and Analytics

  • Optimize Cash Flow and Get Paid on Time
  • Easily Manage and Monitor Your Account
  • Experience Deep Insight and Efficiencies

 

Invoice Funding

Invoice Discounting*

What is Invoice Discounting

Invoice Discounting allows SME businesses like yours to release cash against outstanding customer invoices. It differs from Invoice factoring because you retain the responsibility for collecting payments from your customers.

Features of Invoice Discounting

  • Release up to 100% of invoice value within 24 hours
  • Get cash against the value of your invoices as they are raised
  • The funds you can access grow in line with your sales
  • Flexible rolling contract (30-day notice period)
  • Continue to liaise with your customers for payment
  • Manage your account 24/7 via our secure Client Online portal
  • Quickly and securely share monthly information via our secure Client Online portal
  • Completely confidential process

Benefits of Invoice Discounting

  • Speed: access to cash within 24 hours to meet payments or make important purchases
  • Control: you maintain the relationship with your customer because you manage your own credit control and sales ledger
  • Personal: we get to know our clients who value our relationship-based approach and our Service Promise
  • Convenience: you can check your funding at any time via our secure 24/7 Client Online portal
  • Security: protect against customer insolvency with Bad Debt Protection
  • Confidentiality: your customers will never know that you are using us

Factoring*

What is Factoring?

Factoring is a quick and easy way to release cash that is tied up in your customers' outstanding invoices, allowing you to access your funds earlier.

Invoice Factoring (also known as Debt Factoring or just Factoring) is ideal for businesses who are either keen to grow fast or facing cash flow challenges and want a professional team to help with credit control. As an alternative to bank loans, overdrafts or credit cards, it can bridge the gap between raising a customer invoice and getting paid. It can also free up your time because we manage your collections for you.

Features of Factoring:

  • We release up to 100% of invoice value within 24 hours
  • You get cash against the value of your invoices as they are raised
  • The fund you can access grows in line with your sales
  • The duration is unlimited on a rolling contract
  • We liaise with your customers for payment
  • You can opt to make process confidential
  • Combine with Bad Debt Protection for total peace of mind
  • Manage your account with our 24/7 Client Online service

Benefits of Factoring:

  • Speed: access to cash within 24 hours to meet payments or make important purchases
  • Control: we manage your credit control and sales ledger
  • Personal: we get to know you, as we have many clients who value our relationship-based approach and our service promise
  • Convenience: you can check your funding at any time using our 24/7 Client Online service 
  • Security: you can opt to protect against customer insolvency with Bad debt Protection/
  • Confidentiality: opt for confidential service and we will not disclose you are using our service

 

*Terms & Conditions applied as per the Invoice Discounting Vendor Partners.

 

Secure Transactions

The Safe Way to Buy and Sell Online

An affordable way for payment transactions to take place between numerous parties. The service ensures the needs of the Buyer and Seller are treated with equal importance, and both parties receive equal levels of protection throughout the entire process.

Benefits

A Low- Cost Solution

Often a cost of using escrow is cheaper than other popular payment methods, such as credit cards or PayPal, for instance.

Simplified Sales Process

Regardless of the size of your transaction, it handles the details and can even take care of the extra administration duties involved in a sale.

Reduced Risk

If you need to engage in long-distance selling to get the goods or services you need, this can sometimes come with its own risks. Even when sales are made locally, they will involve some element of dealing with an unknown second party for what could be a major financial transaction. It alleviates that risk by providing a robust and trusted payment method that alleviates the risk of dealing with an unknown and untrusted entity.

Protection for Both Parties

Because it holds onto the funds while the goods are being exchanged, both the Buyer and Seller are protected. The Buyer is given the opportunity to inspect the merchandise before they release the funds. The Seller is also protected from any unexpected chargebacks.