Travel fare aggregator and travel metasearch engine for lodging reservations.
Global B2B debt portfolio.
Our client is a travel fare aggregator and travel metasearch engine for lodging reservations. Client works with companies in more than 230 countries globally. More than 1,5 million operations are handled daily. So there is a necessity to check, control and recover a portfolio of unpaid invoices to secure cash flows.
We have been representing creditor throughout the world. The sole factor in this deal is that we had to conduct communication with the debtors (legal entities) in different languages in 80 countries. 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.
Our lawyers have developed the collection workflow. It included the following: letters of demand, 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. Moreover, additional analysis and statistics helped to upgrade the financial control process and underwriting assessment. Following excellent client service value our teams have advised client regarding improvements in their interactions with their customers to reduce the risk of defaults.
More than 15,000 of claims from the debt portfolio we successfully restructured.
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