APAC and Americas Regions Adapting More Proactive Debt Collections Measures
APAC and Americas Regions Adapting More Proactive Debt Collections Measures
PR58429
AMSTERDAM, Oct. 30/PRN=KYODO JBN/ --
The latest Global Collections Review survey conducted by Atradius
Collections reveals that companies in the APAC and the Americas regions seem to
be more proactive than their European counterparts in recovering payments.
Almost 50% of the companies surveyed are partnering with professional debt
collections agencies.
South American and Chinese companies in particular suffer from limited
financing facilities. International and domestic companies in these regions are
starting to face substantial payment problems, which is reflected in the way
they handle overdue invoices. The use of debt collection agencies is higher in
the Americas (46%) and APAC (47%) than in Europe where 30% of the respondents
have chosen this option in the last 12 months. In the US (54%), China (52%) and
Taiwan (57%) it is common to employ a debt collection agency. Additionally, the
debt collections market is evolving most rapidly in the Americas region, where
an increase of almost 13% is observed compared to last year. This underlines the
importance of cooperating with external debt collection agencies in the region.
In Asia Pacific, companies appear to be more proactive in trying to recover
their money and are willing to use a variety of methods to achieve results.
European companies are more conservative and cautious when it comes to
outsourcing collection of first party invoices. However companies in the APAC
region appear more aligned with companies in the Americas, when it comes to
using first party collections services. Almost 60% of the interviewed companies
in this region have claimed to be (highly) likely to adopt this service during
the next two years. This shows their willingness to begin pursuing payment
earlier, before starting the traditional debt collections procedures. Raymond
van der Loos, Managing Director Atradius Collections, observed: "The economic
climate in both the South American and Asian markets have started to
deteriorate. Payment morale has weakened and insolvency risk has increased. To
improve collection success, companies are implementing stronger credit
management measures and outsourcing their debt collection efforts to an expert
who supports them in recovering outstanding balances and prevents unnecessary
write offs."
Worst payers are domestic customers
Across the world, the worst payers are typically domestic customers,
irrespective of business size and industry. Companies in the APAC region are
more active in recovering late payments from their international buyers, even
though they also have a high percentage of domestic cases to collect. Raymond
van der Loos observes: "The practice of delaying payments as a means of
financing operations is problematic in all countries. Atradius Collections'
strategy has been to expand the global network into the South American and
Asian markets to be able to help its customers, at a local level, recover
payments, whether the debt is domestic or international."
About the Global Collections Review
The Global Collections Review is based on a survey of almost 6000 companies
across 30 countries in the APAC, Americas and European regions and assesses
business requirements for outsourcing business-to-business collections
services. The detailed insights can help companies create country and industry
focused strategies on how to deal with overdue invoices.
The overall report Global Collections Review and the country reports are
available at
http://www.atradiuscollections.com/global/updates-publications/global-collections-review.html
About Atradius Collections
Atradius Collections, a business unit of Atradius Group, provides
efficient, quick and flexible solutions to recover domestic and international
trade debts. With 20 offices and an extensive network of collections
specialists and lawyers worldwide, Atradius Collections serves more than 14,500
customers. Over 85 years of global credit management industry experience
uniquely positions Atradius Collections as a worldwide leader in
business-to-business trade invoice collections services.
http://www.atradiuscollections.com
http://www.linkedin.com/company/atradius-collections
http://www.twitter.com/AtradiusCollect
Further information:
Iris Graatsma
Email: Iris.Graatsma@atradius.com
Telephone: +31-20-553-3139
SOURCE: Atradius N.V.
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