First Party Collections provides professional accounts receivable management. We enable you to focus on your core business activities, while helping you maintain confidence in your credit processes.
Outstanding and unpaid invoices can be a normal part of business operations. With robust accounts receivable management, however, the majority of outstanding invoices do not turn into business debts. The Atradius Collections First Party Collections Service provides you with the opportunity to benefit from the skills of our professional accounts receivable team, and frees your time to concentrate on your key business areas.
How Atradius First Party Collections can help your business avoid bad debts
Sending invoice status reminders to your customers is just one of several effective steps that can help prevent an invoice from becoming overdue. Our First Party Collection team can provide professional representation of your company and timely communications with your customer. In addition to providing a customer-reminder service for all of your invoices, this can help enhance your processes and the image your business presents.
Our early intervention and implementation services include:
- Complete project governance – our proactive approach creates systems that provide a complete overview and help prevent unpaid invoices from going unnoticed.
- Creation of an automated ERP information exchange - our Enterprise Resource Planning software helps streamline processes and enables synchronised payment reporting across your portfolio.
- Customisation of collection processes - our trained personnel deliver a service customised to your needs, including professional representation of your company and timely communication with your customers.
- Testing, development and translation – all processes are tested at the development stage to ensure smooth working practice. In addition, support and training material is provided for your staff in their local language as necessary.
All our services are provided by our local Atradius Collections team. Our First Party Collections service includes:
- Collection activities, including the swift payment of multi-currency collected monies into your accounts
- Dispute registration
- Payment plan monitoring
- Provision of invoice copies
- Unmatched posting resolution
- Block order list reviews
- Submission of Collect Letters (final demand letters)
If an invoice remains unpaid despite all First Party Collection efforts, our professional Debt Collections team is well-placed to escalate collection processes, from initial Amicable Collection activities through to Legal Collection and, if necessary, Insolvency Services.