There were cases where we were simply unable to collect the debts. But right away, Atradius Collections achieved impressive results.
Many past due trade receivables spread across the world
As a multinational operating with local subsidiaries, HP Inc. has customers who fail to meet their payment obligations in various regions of the world.
The prolonged collection process took an unwanted toll on the company’s resources, especially when the collection success rate was disappointing.
HP Inc. then decided to outsource the difficult trade receivables to Atradius Collections.
A tailored collection approach for each local subsidiary
“Like HP Inc., Atradius Collections operates worldwide,” says Alex Gasca, Global Default and Recovery Manager of HP Inc. “So it knows the laws, regulations, languages and culture in each region and country.”
Based on this understanding, Atradius Collections has worked in full cooperation with HP Inc. to provide appropriate handling for each collection case. This close collaboration has proved to be successful for more than ten years.
There were lots of cases and the recovery rate of Atradius Collections was very high. Atradius Collections has both the global and local know-how.
Nowadays, HP Inc. has become more efficient with accounts receivable internally. That leaves the most difficult collection cases to Atradius Collections.
To tackle these, Atradius Collections sits down with HP Inc. on a monthly basis to discuss all the essential information of each case – what type of customers, what type of invoices, what efforts have already been made to collect the debt.
Then depending on where the debtor is located, Atradius Collections will assign local experts to approach them. This customised method has produced successful outcome.
“Atradius Collections continues to get results – even with the toughest cases,” says Gasca.
From an external partner to part of the internal strategy
Recovering past due trade receivables in close partnership with HP Inc. through all these years has made Atradius Collections part of the company’s operation.
“From the outset, the relationship with Atradius Collections has been open, transparent, and friendly. It is important to us that we know each other on a personal level,” says Gasca. “Collecting debts – the big challenge – has worked out very well, from the earliest cases to today’s.”
A major part of this success is due to Atradius Collections’ deep-seated knowledge of HP Inc.’s culture, local subsidiaries, global organisation, financial processes, and the company’s preferred way of working.
Gasca regards this knowledge as a great benefit, because ultimately, Atradius Collections and HP Inc. share the same mission: “Making HP Inc. more profitable.”
About HP Inc.
HP Inc. creates technology that makes life better for everyone, everywhere. Through its portfolio of printers, PCs, mobile devices, solutions, and services, HP Inc. engineers experiences that amaze. More information about HP Inc. (NYSE: HPQ) is available at http://www.hp.com