Page: 1 Get paid industry in Latvia in transformation Thomas Zedendahl Baltic Countries General Manager
Get paid industry in Latvia in transformation
Nov 16, 2014
Thomas Zedendahl
Baltic Countries General Manager
SERGEL
Baltic Countries General Manager
SERGEL
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Page: 1
Get paid industry in Latvia in transformation
Thomas Zedendahl
Baltic Countries General Manager
Page: 2
Agenda
Brief Presentation of Sergel
Get paid process today vs. tomorrow?
Collection association current topics
Page: 3
Sergel
Founded 1988 in Sweden
310 employees in 5 countries
100% owned by TeliaSonera Group
Turnover & EBIT (2010)81 M€ (57 MLVL) 16 M€ (12MLVL)
Page: 4
Business Concept
Sergel offers high quality payment solutions to transaction intensive companies in the Nordic and Baltic markets
Our core strategy is working closely with
our customers, we tailor size our collection process
to your specific needs
Page: 5
What we offer AR Services i.e. reminders
Credit history data base
Pre legal cases
Open court cases
Insolvency cases
Monitoring company changes i.e board members
Pre legal collection
Legal collection
Debt surveillance
Debt acquisitions
Page: 6
Some of our clients in Latvia
Page: 7
Better understanding of debtor
Cost-efficient process with higher recovery
CUSTOMER Sergel
Due date of invoice
Reminder customer name
Take the in-call/call reminders
Termination of
agreementStart Pre-legal
collection
Pre-legal and
legal collectionDebt surveillance
and legal collection Back to customer
Day 7-30 Day 7-30 Day 30-180 Day 30 - 180 Day 30-180 Day 180-360 Day 90 -360
World Class - Debts administration CUSTOMER Sergel
Due date of invoice
Reminder customer name
Take the in-call reminders
Call to the debtors
Pre-legal Collection
Termination of agreement
Debt Surveillance or Legal collection Buying debts?
Day 7 Day 7-30 Day 10-30 Day 30 Day 45-60 Day 90-360 Day 360
Existing Latvian - Debts administration
The more you wait the lower recovery you get
Page: 8
• Debt Collection is based on -The Civil Law of Latvia
• No separate regulation professional debt collection (new law up for decision in government )
• Historically, customers pay for collection service
• Now there is a change to that debtors are paying more of the cost, with an alarming increase in debtors fee from some market players
• Collection officers can do work and home ”visits”
• No regulation when to call 24/7/365
• No common database of bad debts or legal cases
• Problems with public registers i.e. address register, not enough data, phone register, debtor´s phone numbers are mostly “secret”
• Long litigation process
Laws and regulations - And practice
Page: 9
Collection associationFounded 2010
90% of the open collection market represented
The association actively trying to change to new law
Regulation fees Adoption to Nordics
Regulation calls From 08:00 am - 21.00 pm except Sundays and official
holidays
Communication regulations No job our home visits
“Lobbying” for better court procedures easy way to get court decision, turning around the thinking, if the debtor do not answer well they have agreed!
Page: 10
Collection association statistics
Number of invoices sent to collection agencies Total amount in LVL
2009 2010 2009 2010
B2B 70 609 29 605 56 662 626 25 736 799
B2C 432 434 389 156 111 002 690 131 011 461
Page: 1111
P-A Blomquist 2008.10.17
Thanks!SERGEL
Lielvārdes street 8a, Rīga, Latvija
Tel: (+371) 67630303
Fax: (+371) 67630304
www.sergel.lv
Related Documents
