Outsource Account Receivable services
The collection of overdue receivables from debtors is an important task for many organizations. This problem is especially relevant for the banking sector, construction, housing and communal services. On the one hand, experts regard the growth of accounts receivable as a positive signal for the market – the companies once again began to trust each other and grant deferrals on payments, as they did before the crisis. At the same time, the delay sometimes could reach half a year. On the other hand, the growth of delays increases the risk of non-repayment of payments.
Outsourcing of accounts receivable management
We offer factoring companies and banks to outsource specific functions to manage accounts receivable:
Credit management (assessment of existing and potential buyers, establishment of financing limits, analysis of supply contracts, determination of the optimal period for deferred payment, development of a credit policy);
Registration of deliveries in electronic system of the account of monetary requirements;
Information service (full information on the status of receivables – structure, dynamics, analytical calculations);
Work with debtors (reminder about payment, solution of problems with delinquency);
Recovery of bad debts;
Organization of the document management system when working with debtors;
For small and medium-sized businesses there are a number of features:
Risk appetite when choosing partners
Lack of resources for credit management
Weak position in relations with the partners.
Such problems can lead to default of the borrower caused by default of its buyer, deterioration of credit service due to low collection of accounts receivable of the borrower, difficulty in using the borrower’s receivables as a source of repayment for the overdue loan.
FACTORING PRO offers the following services as part of the outsourcing of receivables:
Verification of the borrower’s customers before the Bank enters into a loan agreement (restructuring agreement);
Credit control in the course of the loan agreement: identification of delinquencies, establishment of reasons, negotiations with buyers;
Control of the terms of cooperation established with the bank with customers in the course of the loan agreement;
Selection of options for refinancing and insurance of accounts receivable of the Borrower.
You can get detailed information about the service by calling us at 01715749788 or by sending an application by e-mail: email@example.com