Atradius Collections Global Collections Review Western Europe
AMSTERDAM, June 12, 2013 /PRNewswire/ --
Atradius Collections today releases the results of its 7th Global Collections Review. This edition is the first of a series of three reports split by region and includes data on Western Europe covering 14 Countries. In total the Global Collections Review now covers 30 Countries.
Since 2009, global B2B debt collections specialist, Atradius Collections, has published the review to provide decision-makers in the credit management industry with an understanding of the dynamics and differences in collections practices by country and region.
In this year's study, over 30% of all respondents in Western Europe had used a debt collections agency in the past 12 months. Across countries, respondents agreed that the success rate was the driving factor in their choice of debt collections agency.
"Raymond van der Loos, Managing Director at Atradius Collections, explains: In the difficult ongoing European economic climate there is restricted access to outside liquidity for companies, certainly in Southern Europe. As turnover is reducing, companies are in survival mode and in order to manage available working capital, payments are being delayed in the international trade environment. There is a clear issue in payment morality displayed via deteriorating payment behaviour and increasing insolvency numbers across various European countries. As liquidity is key to survival, a solid strategic approach towards outstanding receivables is a must these days. The question for them is, do they invest in internal resources, or will they outsource to a more flexible solution via a third party collection company which has in-depth collections expertise in the various international jurisdictions?"
Price and reputation were the subsequent reasons for selecting their debt collections agencies, with the latter having particular importance in Nordic countries and in France.
The Global Collections Review reveals that companies in Northern and Western Europe are more inclined to use a debt collection agency with the Nordics, Great Britain and the Netherlands ranking highest. Overall, across Europe, the likelihood of countries to employ an external collector shows an increasing trend to the previous year.
The other result of note is that the cautious approach that characterises Western European countries when outsourcing collections and using final demand letters remains unchanged with some substantial differences at regional level.
Southern European businesses, in contrast, were more inclined to outsource collections whilst their North-Western neighbours were more likely to send a final demand letter.
The survey for the Global Collections Review - Western Europe, was conducted amongst almost 3,000 businesses throughout 14 countries, monitoring commercial debt collection trends and practices. The report can be directly downloaded from: http://www.atradiuscollections.com.
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 over 300 staff in 20 offices and an extensive network of collections specialists and lawyers worldwide, Atradius Collections serves more than 15,000 customers and handles over 120,000 cases a year. Over 85 years of global credit management industry experience uniquely positions Atradius Collections as a worldwide leader in business-to-business debt collections. Please visit http://www.atradiuscollections.com for more information.
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