Several people are there who receive goods in business, product, or services and do not pay for it. These are called debtors. Such cases are high in number in Hamburg. The debt collection claim has the bad impact on liquidity. If the debt collection agency follows, the procedures and then it can even lead to monitory loss of creditors. Therefore, it is very important for you to know about your claim, which is not paid. But for the debt collection agency for any company, there are two resources that is required. The first resource that is required is work force and the most important that is time. Next resource that is required is knowledge.
External Debt Collection Agency –
If you want to solve the problem without spending much on resources, then one of the best things that you can do is to switch to external debt collection agency or management. They have the complete solution for the problem of debtors. Receivable management collection comprises of all the steps that are taken to protect the creditors if they fail to make a payment. Account receivable management is something that is carried out by the clerk also. And also there are some good service providers such as GmbH claims management or through a lawyer. Companies such as GFKL, TESCH, KOHL, INFOSCORE, CREDITREFORM, and others can perform account receivable management.
Credit Worthiness –
One of the things that you should know is that the measure in receivable management is preventive. The objectives of receivable management are simple. Efficient claims management starts before a claim comes up in any company. But it is important for the company to follow preventive measures. Some of the measures are like checking the credit worthiness of your business partners or consumers. Before you enter into contract with anyone you should check the credit worthiness. This is only possible or worthy when orders with a high value or risk of failure in payment is there.
Preventive Measure –
The question of credit worthiness is crucial if a loan is granted. Another preventive measure is drafting of contract in which should be clearly defined about the payment terms and condition and general t&c should be included. In the infoscore forderungsmanagement or debt collection services it is a common practice to have maximum 90 days and minimum 30 days for the transfer of money that is due in receivable management. And it is important for the companies to know that, this generous margin should be given to wealthy customers.
Create Incentives –
In addition, this requires credit worthiness of your customers that should be regularly monitored. One of the things that you can do is either you do it yourself or hire some good debt collection services like Info score or Credit reform. If you are the debtor manager of the company, then you will be liable for the condition management. And, if you want to settle the outstanding debts quickly, then you should create incentives in addition to the payment terms. For monitoring the outstanding receivables, the accounts receivable department will be liable. Apart from that, the amount or money that you will receive will be posted in the debtors accounts, with the payment terms.
Reminders to Debtors –
There are several ways in which reminder is given to the debtors, if at the first reminder, the debtor is unaffected then second and third reminders will be given, in which the some of the reminder is needed by the law for dunning. Through, receivable managements the companies even use the lawyers to get the claim or give warning. In the end, binding liabilities and works create a base for efficacious receivables management. Through the means of declaration, people with common comprehension or parlance know what they should with open claims and by whom. It is the only way in which it can be dealt in a well-planned manner.
Written Contract is Must –
So, in the GmbH it will be good if a proper reporting system is installed carefully. Also, it is important that, you don’t provide services or goods to any person without any kind of written or reputable contract. It is also very crucial that you check the creditworthiness of your customers before providing them any services to avert unwanted risks and claims that are unpaid. No matter you are acquiring new customers and the retention of the existing customers, there will always be risk if you are not checking on these key figures mentioned above. You can allow your sources and data or some external company like Infoscore to get the customers accessed. Receivable management companies use their own clerks or delegates for the purpose of these.