CIS DRS
ACCOUNTS RECEIVABLE PORTFOLIO RECOVERIES FOR HOTELS BOOKING SOLUTIONS
Creditor:
Сollection agency (DCA)
Case type:
B2B, Creditor–>Agency–>CISDRS (subcontractor)
Our client is a well-known platform for hotels to attract traffic and reservations. This platform serves as a B2B solution for transfer routes, many activities, tickets, hotel reservations and car hire. Having in mind to give their clients a superior and fast service our client handles complex tasks per each client. This means that they offer hotels, rentals and other facilities and businesses to attract new customers all over the world and pay after.
In such a business model one of the key risk factors is the pending invoices. It influences the profits, balance sheet and the cash flow finally. So the task is to follow the schedule of payments and to collect / recover money asap in case of delays. Additional requirement is the opportunity to let the parties continue their cooperation.
Our team of lawyers has been selected among other companies to handle the portfolio collections. Our solutions help us to develop customized workflows and cover many countries at the same time. We had to conduct communication with the debtors (legal entities) in different languages in 80 countries (EUROPE, MENA, JAPAC, LATAM, CIS etc). Some of the debtors from the portfolio were under liquidation, some of them were just scammers, and some of them just changed owners and did not recognise the debt's existence. Letters of demand, communications scripts, communication schedule and service scripts were developed for the rest of the debtors.
Our lawyers have designed the collection process. It included the following: communication scripts, information search algorithms, negotiation strategies, language peculiarities, data transfer and other compliance issues. It should be also noted that the most important part has been agreed - the reporting standard. Client timely receiving all necessary reports regarding the collection progress. It includes the reference number of each case, brief report on actions done, current status and further actions. Everything as to the reporting standard was discussed and confirmed with the client.
Moreover, additional analysis and statistics helped to upgrade the financial control process and underwriting assessment. Client always knows the average amount of the claim collected, monthly collections, recovery rate per case, month and portfolio allocated. Additionally they require the average length of collection efforts. We also measure the portfolio turnover and the success rates. Following excellent client service value our teams have advised the client regarding improvements in their interactions with customers to reduce the risk of defaults.
Our team handles a big number of specific cases, which require individual strategy and consideration for each particular situation. It requires deep information gathering and analysis. It also requires customized negotiation strategies.
Key Account management team is also responsible for portfolio management and effective coordination of lawyers during collections. Such an approach helps our client to receive a single point of coordination and communication. We believe this helps the overall success in AR collections.
Each month we receive a new batch of claims and projects. So, it is an ongoing process. We create the algorithm of how to interact with local representatives and debtors and how to manage the portfolio effectively. As our team works on a success fee this means that the client pays our fee only after receiving money on creditors’ accounts.
In such a business model one of the key risk factors is the pending invoices. It influences the profits, balance sheet and the cash flow finally. So the task is to follow the schedule of payments and to collect / recover money asap in case of delays. Additional requirement is the opportunity to let the parties continue their cooperation.
Our team of lawyers has been selected among other companies to handle the portfolio collections. Our solutions help us to develop customized workflows and cover many countries at the same time. We had to conduct communication with the debtors (legal entities) in different languages in 80 countries (EUROPE, MENA, JAPAC, LATAM, CIS etc). Some of the debtors from the portfolio were under liquidation, some of them were just scammers, and some of them just changed owners and did not recognise the debt's existence. Letters of demand, communications scripts, communication schedule and service scripts were developed for the rest of the debtors.
Our lawyers have designed the collection process. It included the following: communication scripts, information search algorithms, negotiation strategies, language peculiarities, data transfer and other compliance issues. It should be also noted that the most important part has been agreed - the reporting standard. Client timely receiving all necessary reports regarding the collection progress. It includes the reference number of each case, brief report on actions done, current status and further actions. Everything as to the reporting standard was discussed and confirmed with the client.
Moreover, additional analysis and statistics helped to upgrade the financial control process and underwriting assessment. Client always knows the average amount of the claim collected, monthly collections, recovery rate per case, month and portfolio allocated. Additionally they require the average length of collection efforts. We also measure the portfolio turnover and the success rates. Following excellent client service value our teams have advised the client regarding improvements in their interactions with customers to reduce the risk of defaults.
Our team handles a big number of specific cases, which require individual strategy and consideration for each particular situation. It requires deep information gathering and analysis. It also requires customized negotiation strategies.
Key Account management team is also responsible for portfolio management and effective coordination of lawyers during collections. Such an approach helps our client to receive a single point of coordination and communication. We believe this helps the overall success in AR collections.
Each month we receive a new batch of claims and projects. So, it is an ongoing process. We create the algorithm of how to interact with local representatives and debtors and how to manage the portfolio effectively. As our team works on a success fee this means that the client pays our fee only after receiving money on creditors’ accounts.
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