Limit your losses
Coface Debt Collection services perform in a short time frame and with minimum costs, ensuring a higher return
FOUR GOOD REASONS TO CHOOSE COFACE DEBT COLLECTION SERVICES:
- Our access to a wide network of enforcers and liquidators within affordable fees
- Automated dialing system for debtors
- Both amiable and legal collection possible
- Integration of Street Collection service in the collection work-flow
Debt Collection is a key aspect of credit risk management.
This activity requires a high level of legal expertise and a worldwide network of resources, which Coface holds both through its own specialists and Coface Partner network.
Outsourcing these tasks to Coface, a global leader in credit risk management, will help you get instead, a comprehensive and perfectly tailored solution to your needs.
This will help you to:
- Effectively manage late payments
- Maximize cash outflows
- Enhance customer relationships
- Optimize cash-flow
DELIVERING A VALUABLE SERVICE
Romanian ProdCarn SA, whose main activity is food & non-food products trade has developed over time locally and internationally, lately increasing the level of exports, especially to companies in the Netherlands.
In March 2013, it delivered to two clients in the Netherlands merchandise worth 130.000 EUR, the invoices being issued with a due date of 15 days. Although both debtors promised to pay, the Romanian company didn't collect the counter value of the goods for 2 months, and in June decided to outsource the debts to Coface Romania. Due to our quality standard, both of the debts have been submitted to our partners from the Netherlands within 24 hours of receipt.
Since the transfer of information between Coface's entities is done through DCON (Debt Collection On Line) online application, the collection case reaches any country in a very short time. When the cases from the Netherlands were checked, it showed that one of the Dutch debtors, the one with the 60.000 EUR in debt, had become insolvent with the registration deadline for the statement of affairs in two weeks.
Due to Coface's lawyers, the creditor was registered at the statement of affaires, respecting the deadline set by the court in the Netherlands and benefited from the lawyers' assistance throughout the entire lawsuit.
Regarding the case of the second Dutch debtor, Coface has managed to establish a staggered payment plan for 3 months for the amount of 70,000 EUR. The staggered payment process has been closely monitored by Coface to fully settle the debt.
DCON - a database of over 500,000 debt collection cases
Our experts are supported by our online debt collection database - DCON and by up-to-date information from our information database - ICON, covering more than 12 million companies in CEE.
As an online user, you benefit from:
/ Order placement, status reports and statistics via ICON
/ Overview over case portfolio handled by Coface
Central Europe offices
/ Online monitoring of collection steps (reminder service, telephone intervention, personal visits and payment
/ Direct communication with Coface Central Europe case workers
/ Electronic exchange between your systems and our online collection database for large volumes of data