With the slowdown of the global economy in the last few years, there has been a deterioration in payment discipline in both larger and smaller companies. For creditors, such a trend has created a spiral of secondary illiquidity and internal difficulties in managing receivables, which creates a large increase in financial costs associated with this process, as well as a reduction in own funds due to uncollected receivables, which ultimately creates a problem of further development.
Technological advances have created new possibilities and more efficient methods of debt collection. The options for managing and collecting receivables are divided into five main phases, which can be combined to some extent depending on the requirements and needs of the client, as well as the nature of the requirements and
the nature of cooperation. Each collection process is preceded by an analysis of receivables, on the basis of which a plan and matrix of the receivables collection process is created individually and uniquely for each process. The result is a specific set of steps or strategies, which make up the process of debt collection. We have comprehensive know-how in the field of receivables management.
The debtor returns to you as a satisfied customer. In order to keep the client with you, there is our sales department in order to return existing clients by offering certain "benefits" when collecting receivables or buying a new product / service, all in accordance with the individual needs of the client.
Our priority is to quickly obtain your money while maintaining a good relationship with your customers. Where possible, we arrange repayment plans that take into account the financial situation of the beneficiary. The billing process consists of three phases:
1. Written warning - We first contact the debtor by mail. People usually take letters they receive from debt collection companies seriously, so the response rate is high.
2. Telephone reminder - If the first step did not result in payment, we warn the user by phone or through other channels, such as SMS / Viber / Whatsapp messages. At this stage, we collect the most debts.
Complete communication with debtors is done according to pre-defined scenarios / steps that are created depending on the industry in which it operates, the type of debtor, as well as the situation in which the debt arose.
The steps applied enable companies to significantly reduce costs and increase business efficiency, as well as to focus on their core business without wasting time on their own collection.
3. Legal action - If nothing else succeeds, we will evaluate and, in agreement with you, take any legal action. Based on our extensive experience and knowledge, we will be able to advise you on whether such a legal action has a chance of success or not.
The procedure to be applied depends on each individual case. If appropriate, we can adjust the above stages to best suit the particular case.