Early collection in a nutshell
The current state of the economy still points to the widespread payment indiscipline. Debtors don’t fulfil their obligations, thus they diminish companies’ liquidity and market competitiveness. It is important that we start debt collection immediately or as soon as possible after the invoice is overdue and that all further procedures follow at specific time intervals.
After forwarding the outstanding obligations notices we begin the early collection procedure. This means that we begin with telephone reminders, their primarily importance being to establishing a contact with the debtor.
Throughout the early collection procedure we wish to maintain a good business relationship between the creditor and the debtor. Therefore, the correct attitude and respect for ethical principles is particularly important when establishing the first contact with the debtor.
Early collection procedure
Advantages of early collection
- Monitoring your internal process of reminding calls
- Maintaining the company’s liquidity and competitiveness
- Faster and more efficient payment of outstanding obligations
- No additional costs
- Payment in the form of a commission on the amount successfully collection
- The average performance of efficiency is 60%
- Debt collection for individuals or businesses
- Debtors paid directly to the customer’s bank account
- Possibility of fieldwork collection by detectives