Monitoring of Payments
A method of counteracting the occurrence of overdue liabilities is the management of receivables from the very first day of their maturity, and even before this date. In practice, this translates into the control of timeliness of payments of debts by the clients and fast reaction to any change in their payment behaviours. Within the framework of monitoring, on behalf of the client, we supervise whether the deadlines related to payment of liabilities are kept. Owing to this, these deadlines are treated as a priority. Therefore, before the expiry of the payment date we contact the client’s business partners to remind them of the payment, and we determine whether all the formalities necessary for settlement of the payment are fulfilled. In the case of overrunning the deadline, we determine the causes of delays and the definite moment of making the payment.
Our actions are taken in a way that does not disturb the positive relations of our client with their business partners. Additionally, we prepare detailed reports on the effects of our actions – we determine the cause of delays in the settlement of payments, the definite deadline for making the payments etc. We also collect information, which may turn out to be useful in the process of possible execution.
ADVANTAGES RELATED TO THE USE OF THE SERVICE:
- the security of the timeliness of payment of liabilities and improvement of the payment discipline of the client’s business partners
- the possibility of immediate reaction to the lack of timely payment of liabilities by commissioning the case to debt collection
- the effective identification of those business partners, in the case of whom, the probability of delays or lack of payment is high
- the improvement of the financial liquidity by reduction of the risk of occurrence of payment gridlocks and decrease in the number of doubtful debts in the portfolio
- a decrease in costs by reduction of the involvement of own employees in the processes related to supervision of timeliness of payment of liabilities