More than just a short-term financial problem, non-payment of customer invoices can create serious liquidity problems for businesses. The recovery of overdue debts can sometimes become a real problem, especially for small structures that do not benefit from a service specialized in the recovery of overdue amounts. For SMEs and the self-employed wishing to optimize the recovery of overdue amounts, outsourcing the collection service is therefore an attractive solution.
How to recover overdue customer receivables?
When one or more reminders are no longer sufficient, the recovery of overdue debts can quickly become problematic and requires not only time, but also very specific knowledge in order to obtain a good result. Outsourcing of the debt recovery service consists in entrusting the management of unpaid invoices to a third party. This specialized company will then have the role:
- Control customer payment
- Perform reminders, send reminders, etc.
- Propose, if necessary, payment arrangements or solutions allowing the creditor to recover cash
- Establish, if necessary, prosecution procedures
Why delegate the management of overdue invoices?
While some large companies benefit from services specialized in the recovery of overdue debts, this is not the case for many SMEs and the self-employed. By delegating these tasks, you ensure:
- To be able to devote your time to your main field of activity
- Improve your customers’ payment rate and recover past due amounts faster
- To benefit from legal advice in case of need
Protect your business from lack of liquidity
Delegating the management of the recovery of overdue receivables is not the only possibility that exists to protect its activity against customer default. Factoring, sale of receivables, credit insurance, … solutions exist and can be adapted to your specific situation! Do you want to know more about these solutions? Our advisers are happy to assist you.
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