1. Third-party collections to recover ageing cases
Alex Gasca, Global Default and Recovery Manager of HP Inc., and his team work from various locations worldwide. They value it much that Atradius Collections also has an international presence. “Atradius Collections knows the laws, regulations, and culture in each region and each country. It has both the global and the local know-how,” says Gasca. Due to this competitive advantage, Atradius Collections can execute and manage efficient third-party collections processes wherever the debts are. “There were lots of cases and the success rate of Atradius Collections was very high,” says Gasca. “For some cases, we were simply unable to collect the debts. But right away, Atradius Collections achieved impressive results.”
2. Tailored collections approaches to recover difficult cases
The collaboration was off to a good start, and it continues to work out in the face of time and changes. “These days we have become more efficient internally. So the debt collections cases we send Atradius Collections are only the most difficult ones,” says Gasca. This takes form as monthly challenges where HP Inc. discusses the most troublesome cases of the month with Atradius Collections. Based on the information provided – the type of customers, the type of invoices, the efforts HP Inc. has already made to collect the debt – Atradius Collections takes over and works on the case diligently, no matter where it is located. As a result of this close cooperation, Atradius Collections gains deep-seated knowledge of HP Inc. – its culture, organisation, financial processes, and how HP Inc. likes to work. This makes for favourable outcomes. “Atradius Collections continues to get results – even with the toughest cases,” says Gasca.
"From the point we hand over these specific cases to Atradius Collections, the work and the man-hours put into them drop close to zero."
Global default and recover manager at HP Inc.
3. Collaborative collections processes to increase recoveries with minimal internal efforts
After more than 10 years working together, HP Inc. and Atradius Collections have shifted their focus to the most time- and effort-consuming debt cases. These are often smaller in size but come in high volume. In order to optimise the resources spent on them, a hybrid approach has been developed. HP Inc. will first execute a lean strategy that includes four steps to collect the unpaid invoices. If everything has been done and the customers are still facing financial issues or there is no response, these cases will be handed over to Atradius Collections.
“It is very useful to have someone like Atradius Collections, who is there to take over when we have made our efforts and would write off the items,” says Gasca. “From the point where we hand over these specific cases to Atradius Collections, the work and the man-hours put into them drop close to zero, because Atradius Collections follows up for us – from providing incentive payment plans to handling the situation. That frees up plenty of collectors' time. We get to keep the internal efforts to a minimum while also getting recoveries.”