Defaults and credit management: tips for debt collection during the pandemic
Companies aim to secure their liquidity position, which puts pressure on the credit management team. This article discusses how companies can successfully collect overdue invoices with respect for clients’ difficult situations during the pandemic.
Balancing efficient debt collection and strong customer relationships
In August, De Tijd reviewed an alarming increase of unpaid invoices in Belgium. Febeg (the federation for energy suppliers) warns that due to the pandemic a growing number of people and companies cannot pay their energy bills on time. Other instances also report on...
Credit management and teleworking: how to improve productivity
Since the pandemic requires teleworking, it’s important to pay attention to your credit management team. They are pressured to save financial numbers of the company while their work space has changed enormously. In this article we share 4 tips to boost their motivation and productivity in these challenging times.
Collecting overdue invoices: the debt collection process
Overdue invoices occur regularly. In B2C, the problem is widely known. On average, Belgian customers do not pay their invoices in time. Hospitals, energy suppliers and tax authorities have to deal with collecting overdue invoices. The digital economy, too, suffers...
DSO: what is it en why is DSO important?
DSO or days sales outstanding is a metric used for payments that don't have to be completed upon receiving goods or services immediately. It indicates how many days a company waits for these payments after delivering goods or services. DSO is the most frequently used...
