By outsourcing your invoice management to Coface's experts, you will accelerate the invoices' payment and you will induce a payment discipline to all your business partners
FOUR GOOD REASONS TO CHOOSE COFACE INVOICE MANAGEMENT:
- Save your time and resources
- Focus on your core business
- Optimize your credit risk management
- Increase your liquidity
Our invoice management services cover the entire process: from issuing and sending invoices to the tracking and recovery of overdue debts.
Our modular approach allows customers to outsource the entire life cycle of an invoice or just a part of it. Our teams of experts and effective working procedures facilitate the entire collection process.
Thus, you will benefit from:
- Outsourcing the entire or just a part of the invoice cash-in cycle
- Undertaking any segment of an invoice life cycle: generate the invoice date, issue invoices, send them, monitor payments, send notices and take appropriate legal measures
- Focusing on the collection process (during the pre-collection period) based on direct contact with debtors until the invoices' full payment
- Initiating an automatic recovery procedure after due date
DELIVERING A VALUABLE SERVICE
Well Pharm SRL is one of the largest manufacturers and local distributors of pharmaceuticals, managing an impressive portfolio of approximately 5,000 active partners.
Its clients operate in an uncertain business environment, with large due dates from the National Insurance House.
In this difficult economic context and amid aggressive competition, Well Pharm SRL is forced to accept due dates up to 300 days from the invoices' issuance dates.
Because of the extended time between the issuance and the due date of an invoice, Well Pharm SRL noticed that many clients do not carrefully handle their payment status or they forget about those invoices, which is why they are paying later. To optimize the cash-flow, Well Pharm SRL decided to outsource its Invoice Management process to Coface. Based on the specialized internal systems developed by Coface, Well Pharm SRL's clients receive notifications by mail, electronically or by SMS regarding due dates of upcoming invoices.
Thanks to this partnership, the incidence of late paid invoices decreased and they were automatically taken by Coface to start the individual collection procedure.