CASE: GLOBAL SUBCONTRACTOR FOR COLLECTION AGENCIES
Provides services of LED design and multimedia systems in sports arenas
local company handling the project of LED equipment installation
B2B, Creditor–>Agency–>CISDRS (subcontractor)
The list of clients may also be represented by debt collection agencies focused on the local market. Described case is about the successful cooperation between our lawyers and the local collection agency (DCA) who requires a global solution in collections. Actually they became our client serving their customers-creditors at the same time. Mentioned DCA is a highly reputable company in the APAC region that is dealing with the debt management for local businesses. As local businesses expand their sales abroad they need assistance in handling accounts receivables there.
The client has reverted to us with the request to assist with the debt collection of outstanding balances for inspection, verification, testing and certification services in numerous regions, such as EU, MENA and LATAM. Their key customer required debt recovery services for B2B claims in many countries.
That is why our experience and expertise was useful in the overall process. We agreed the workflow and specially designed it as to the requirements of our client (DCA) and the creditor. The key challenge was to apply the reporting standard and the information exchange in an efficient way together with meeting the regulations and legislative requirements. Our team has drafted debt negotiation scripts in various languages and successfully used them later. Proof of payment confirmation has been also integrated in accordance with the creditors’ requirements: exchange format, form of the request etc. This helped us to serve a portfolio of cases with many information exchanges concerning recoveries.
Implemented workflow increased the efficiency of collection efforts and performance. So we managed to combine interests of the creditor (to obtain recoveries) and DCA (to receive a reliable solution for global collections). Moreover, our client added new creditors to the scope of the work. So the mentioned cooperation is currently continuing and we believe in long term relationships.
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