Collecting debt in Europe can be challenging for any business and most companies who experience overdue or unpaid invoices across Europe understand that partnering with an established debt recovery agency provides far better results and avoids the usual obstacles they may experience of language barrier, time difference or unfamiliar business culture and legal requirements.
Controlaccount Plc has accumulated a diverse portfolio of clients including many internationally recognised brands where recovering European and international accounts is an integral component of their requirements. Many of our clients operate at varying corporate, group or conglomerate levels.
Our strategy for debt collection outside the UK is unique - it is fast and highly effective whilst fulfilling the need to keep costs low; Controlaccount uses its own highly skilled CAI trained collection team to recover the overdue invoices in the first instance, utilising our Controlaccount service support centres based in Slovenia, Bosnia & Herzegovina, Serbia, Croatia and Macedonia to further support the recovery process. This service is offered on a no collection, no fee basis.
If the recovery process is more complex, we can instruct one of our carefully selected partners throughout the world - who share our values and meet our supplier code of practice - to collect payment. Our debt collection service is provided from a centralised single-point business model and represents the perfect blend of technology and people skills for the recovery of account receivables throughout the UK, Europe and the rest of the world. We also provide data management, credit information, tracing and litigation, all provided in any country with support tools to accommodate any currency or language.
In addition to the collection of overdue or outstanding invoices, Controlaccount and its support services can trace missing debtors, resolve disputes and action legal proceedings in any country, time zone with any currency and language.
Controlaccount is a member of the Federation of European National Collection Associations (FENCA), a governing body that operates in over 20 countries and aims to promote the development of European recovery legislation, education and draws from a network of international specialists.
When collecting debt from Europe, firstly we need to consider if this debt is within the EU or outside of it as that will affect the way we approach the recovery of the debt.
Controlaccount Plc works with companies throughout the world to recover debt from all of the 28 countries that form the EU. Collecting debt from businesses within these countries is fairly straightforward - if applicable, we will apply any late payment legislative fees to the account which can often offset any cost of recovery.
Despite a lack of cross border legislation and complex legal processes, Controlaccount delivers impressive success rates of non-EU commercial debt recovery.
If required, we can include further services to support effective recovery, these include:
Trace - Our in house trace investigators will work to reconnect you with any debtors that may have absconded or gone away.
Litigation - Whilst our focus is on pre-legal collection, there are times when it is necessary to litigate. Our in-house legal counsel will access the debt and advise if litigation will bring a favourable outcome. From there, our legal counsel - together with our law partners, DWF LLP Law - will begin litigation proceedings. DWF has a substantial global footprint with over 27 offices worldwide meaning that global litigation can be implemented with ease.
Why you should consider Controlaccount for European debt recovery:
We can collect commercial debt from the following EU countries:
Collecting debt from outside the EU
Do you have an unpaid invoice in another country? Our debt recovery team will be happy to offer a free, no obligation chat on the options that are available to you. Call + 44 (0) 1527 549 522 or email sales@controlac count.com or request a call back here.
Days Sales Outstanding or DSO is a calculation used by a company to estimate their average collection period and measures how well a business accounts receivables are being managed and how efficient credit control departments are performing. The lower the days or ratio, the better it is for your business. If your business has a high days sales ratio, you may struggle to convert sales into cash flow. Try our calculator to find out how many days you are financing your customers.
From experience, we understand "Best Practice" for DSO within UK industry sectors.
You can compare your own DSO to this: