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Fawcett reviews payment plans to boost revenue

Business
Fawcett

Local security company Fawcett says it has recorded “tremendous” growth this year, thanks to constant innovation in response to the changing business environment.

Fawcett manager for southern region Godfrey Mungure said the security company’s Zvishavane branch was able to foot its payroll and operational costs.

He said before that the situation was difficult.

“Our financial reports for Zvishavane branch are better than last year,” Mungure said.

“This has seen the branch manage to cover its expenses and wages,” Mungure told NewsDay Business.

“This was our major concern since we are in a small town that does not have many clients, but we are glad the few we have are making payments on time.”

Zimbabwe’s economic crisis has persisted this year, with high inflation prevailing, while foreign currency shortages continue to haunt individual consumers and industries.

Security firms have not been spared.

Mungure said services to non-paying clients were being reviewed.

He said the firm had also allowed clients to come up with payment plans.

“We have a payment plan between ourselves as a company and our clients,” he said.

“We invoice clients in advance and we expect them to pay in full within the first 18 days of the month so that we have enough to cover for the same at the end of the month,” he said.

“In 2022 we decided to stick to our credit policy and in instances where there are shortfalls, we give the client up to two weeks to pay,” he added.

He said the company’s flexible payment plan had contributed to revenue growth, as customers were retained, and more clients were recorded this year.

Buoyed by high standards of service delivery, training and manpower development since its establishment in 1959, Fawcett Security is among the country’s leading private security companies.

Famed for its specialised training facility and dog section, Fawcett Security provides cash-in-transit and VIP escort services, with home and business security in between.

The company boasts a strong representation in all sectors of the economy.

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