About monitoring of receivables and pre-collection
Monitoring of receivables guarantees the financial stability of any company. By making a purchase, contractors undertake to pay by the set deadline.
A company that allows customers to pay on a deferred basis is in effect giving them interest-free credit. Customers can use the goods or services without having to pay for a certain period of time. It is worthwhile in such cases to set a debt limit for contractors, above which the company stops making deliveries. At the same time, there is a need to remind the customer to repay the debt.
We will help you release your receivables. We will:
- remind customers of an upcoming payment deadline for goods or services
- help you set a recommended debt limit
- generate a list of debtors who will be contacted by e-mail or telephone to determine the reason for non-payment and possible solutions to the payment gridlock
- contact debtors who have already received a demand for payment and inform them of the implementation of further measures in accordance with the established internal collection procedure
- keep records of unpaid invoices for you so that you know what proportion of your receivables is doubtful
- send reminders or calls for payment to counterparties who fail to pay on time
- help you determine further recovery action
At EFF, we focus on consistent and regular debt monitoring activities in order to recover as much of the debt as possible. Only a rapid response will translate into effective action.
