The debt collection cases we send Atradius Collections are the most difficult ones but it continues to get results.
Company: HP Inc.
Trade sector: Tech industry
Challenge: To recover invoices from difficult debt cases
Results: The amount of recovered invoices for HP Inc. increased substantially after the company initiated a third party default collection process with Atradius Collections.
How we made it happen: For eight years, we’ve worked closely with HP Inc., formerly Hewlett Packard, to collect its debts. Currently, we focus on its most troublesome debt cases.
About HP Inc.
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. (NYSE: HPQ).
In 2008, Hewlett Packard had a problem. Collecting debts from B2B customers or non-responsive customers took an unwanted toll on the organisation’s resources and the success rate was disappointing. So HP decided to outsource these difficult cases to Atradius Collections.
Alex Gasca, Global Default and Recovery Manager for HP Inc., explains: “There were cases where we were simply unable to collect debts. But right away, Atradius Collections achieved impressive results. Like HP Inc., Atradius Collections operates worldwide, so it knows the laws, regulations and culture in each region and each country. It has both the global and the local know-how. From the outset, the relationship with Atradius Collections has been open, transparent and friendly. Collecting debts – the big challenge – has worked out very well, from the earliest cases to today’s.”
Alex Gasca and his team work from various locations worldwide. HP Inc. continues to collaborate closely with Atradius Collections on debt collection, but some things have changed since the two companies first started working together, eight years ago. Alex Gasca explains: “In the beginning, there were lots of cases and the recovery rate of Atradius Collections was very high. These days, we have become more efficient internally, so now the debt collection cases we send Atradius Collections are only the most difficult ones, but it continues to get results – even with the toughest cases.”
HP Inc. discusses the most troublesome cases with Atradius Collections on a monthly basis. It’s the start of ‘the monthly challenge’. Atradius Collections learns what is necessary - what type of customer, what type of invoice, what efforts have been made to collect the debt already - from HP Inc. about the cases and then they get to work, wherever in the world the case is located. Atradius Collections has a deep-seated knowledge of HP Inc., its culture, organisation, financial processes and the people, and how HP Inc. like to work.
Alex Gasca sees that knowledge as a real benefit: “It helps that we know each other on a personal level. That’s important to us. We share the same mission: making HP Inc. more profitable.”
About 1/3 of the value of invoices uncollected after 90 days past due are never paid. In collecting overdue debts, time really is money. Start your collection procedure as early as possible, thereby increasing your chances of recovery.
As debt collection specialists, we’ve heard most of the excuses businesses make when they fail to pay a bill. We know how to respond to this and how to exert the right level of pressure to maximise revenue collection.
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“They’re also well known in the market and have a very good reputation. They know how to combine their high-quality services with a very open, highly professional relationship with their clients." Stefan Craciun, Colt Technology Services