The current leading practices worldwide have made it possible to deepen and analyze the trends of the operating model of the immediate future in the face of crises that hit and compromise the profitability of companies.
Every day globalization forces us to systematize in an integrated way the processes related to collection management, through a more detailed segmentation, based on variables, risk calculations, and all with the aim of structuring appropriate analytical tools.
The economy is the fundamental pillar of the development of any company, and the current crisis has established an increase in the delinquency and past-due portfolio rates, at all levels of the institution; which forces to redefine the components of the collection operating models. It is necessary to understand that, to achieve efficient collection management, it must start with good credit administration, knowledge and management of the client and efficient use of communication channels, all with the sole objective of increasing the level of recovery , level accounts and minimize losses successfully.
Obtaining the payment of customer receivables, makes collection management one of the most important processes for a company, which must contain real, updated information on the status of accounts receivable, beyond being a public or private company, each company is autonomous in the establishment of collection processes.
The strengths of the success of a good legal collection management, lie among some of them, in acting under the framework of law, being strict in complying with the duty of confidentiality with respect to customer information, establishing customer service processes, Deal with the exact and transparent information of the debt, verification of the experience in the activity, management and studies of references and antecedents, behaviors in the sector, studies of the physical and financial capacity, determination of analysis criteria and solution alternatives , among other.
The responsibility of an entity specialized in collection management and portfolio recovery implies offering, beyond a committed effort, good professional and specialized practice of strengths, which allow to result in the redemption of resources, achieve sanitation objectives and meet the expectations of the client to feel the confidence in processes that allow to stabilize and to propose concrete objectives of financial improvement.
Our firm is characterized and differentiated in the sector, thanks to standardization, formal and diplomatic personalized attention, specialization and knowledge in the matter, completely verifiable references in management and results, high experience and national and international coverage, reliable alternative solutions and good administrative practices. We are willing to manage and solve your queries, since it identifies us to be able to serve and meet the expectations of our customers.
About the author: Daniela Amelia Álvarez is part of the López & James legal team, is a lawyer with specialization in Business Law and has extensive experience in civil, corporate, immigration law, collections, among others.