International debt collection at EOS: Globally connected against the COVID-19 crisis.
The COVID-19 pandemic has not left the debt collection sector unaffected. In cross-border debt collection, in particular, national rule changes and legislative amendments have presented service providers with major challenges. The EOS partner network is a reliable point of contact during the crisis too – thanks also to the efficient "EOS Global Collection" IT platform.
- A reliable cross-border debt collection partner is important for companies with international operations, especially in times of crisis.
- The EOS partner network recovers outstanding debts in more than 180 countries via the "EOS Global Collection" IT platform.
- The network includes over 80 international partner companies altogether. Some of them describe the situation in their countries of residence and talk about their cooperation with EOS.
There is virtually no sector that has not been affected by the COVID-19 pandemic. International debt collection is no exception. Numerous amendments to national legislation, a faltering economic situation and a large number of measures to waive or defer maturities have also had an impact on EOS’ cross-border business. The number of outstanding debts worldwide has decreased.
Do you have outstanding receivables abroad? Our Cross-border Center provides fast and efficient international debt collection services for your company.
About the service
The EOS Group is represented in more than 180 countries worldwide – either with their own offices or by partner companies. All 83 partnerships ensure they provide the best possible service, even in countries where EOS does not have a local presence. The Hamburg-based EOS Cross-border Center manages the wide range of processes with the help of their international "EOS Global Collection" IT platform. Even though the overall result was down slightly in the 2021/21 financial year, the Cross-border Center performed well. Against all odds, outstanding debts were recovered from over 1,600 customers in 167 countries.
Cross-border cases are processed via the "EOS Global Collection" IT platform. By means of a country code, the platform automatically forwards the case to the specialist(s) responsible in the country of the relevant claim – who then recover(s) the debts locally. This allows EOS partners and customers to track the progress of a case in real time, from when the contract is accepted until the debt collection process has concluded.
The figures show how well this works: In the 2020/21 financial year, 61,250 cross-border cases were mediated via the platform – which resulted in 59,391 payments by defaulting payers. The 99% out-of-court settlement rate is also impressive. This makes EOS Global Collection an effective concept for all EOS customers, for EOS itself and for all participating partner companies:
Cross-border cases are processed via the "EOS Global Collection" IT platform. By means of a country code, the platform automatically forwards the case to the specialist(s) responsible in the country of the relevant claim – who then recover(s) the debts locally. This allows EOS partners and customers to track the progress of a case in real time, from when the contract is accepted until the debt collection process has concluded.
The figures show how well this works: In the 2020/21 financial year, 61,250 cross-border cases were mediated via the platform – which resulted in 59,391 payments by defaulting payers. The 99% out-of-court settlement rate is also impressive. This makes EOS Global Collection an effective concept for all EOS customers, for EOS itself and for all participating partner companies:
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Octavio Jose Aronis, Aronis Advogados in Brazil
“Although the EOS platform already provides extensive support, I am impressed that the highly skilled EOS experts are always available to offer attentive advice and assistance. Regular updates with accurate information and possible alternatives are key to our mutual success. We are very proud to represent and support this leading company in our region.”
.jpg/jcr:content/David_Zannoni(1).jpg "David Zannoni, Cobroamericas S.A. de C.V., Mexiko")
David Zannoni, Cobroamericas S.A. de C.V. in Mexico
“The economic crisis hit Mexico and Latin America particularly hard. Even now, many companies are still closed and have limited capacity to pay outstanding bills. EOS is absolutely invaluable, especially in these times of crisis. More than ever, it creates a bridge for us between companies, countries, and continents. The new virtual and hybrid era that lies ahead of us will intensify international collaboration to an even greater extent and reinforce the need for reliable global partners.”
.jpg/jcr:content/George_Yiangou(1).jpg "George Yiangou, George Yiangou Ltd., Zypern")
George Yiangou, George Yiangou Ltd. in Cyprus
“We very much appreciate that the communication and collaboration with EOS always went smoothly before and during the lockdown. Our contacts at EOS are only a supportive phone call away and the platform is very user-friendly too. This enables us to work effectively with one another even under difficult circumstances. We feel part of the EOS family.”
Prashant Shukla, ATS Services in India
“During the lockdown our entire collection service was badly affected and is still recovering. The communication with EOS, on the other hand, was always excellent. For example, interactive sessions were held on different topics and with different participants, which were very stimulating and enlightening. The Cross-border team ensures great collaboration and seamless service. Its strong ethical values of shared growth and fair treatment, along with its business acumen, make EOS an exceptionally valuable partner for us.”
.jpg/jcr:content/Meera_Nair(1).jpg "Meera Nair, AL WADI Holding, Vereinigte Arabische Emirate")
Meera Nair, AL WADI Holding in the United Arab Emirates
In these difficult times EOS has demonstrated great resilience and has also encouraged all of its partners to pursue this strategy. Thanks to the contact via virtual platforms, information was shared regularly with us in the regions, so any changes to laws and regulations could be taken into account in a timely manner. In addition, EOS is an incredibly professional partner that uses various knowledge-sharing formats to help us improve our capabilities, advance our shared goals and thus improve efficiency. It’s a win-win situation for all parties.”
The support and advice provided by the EOS team has been very helpful for us and our needs. As a partner, EOS provides unlimited guidance and support, including assistance with solving problems. We very much appreciate collaborating with everyone around the world.
Julianna Needham, Business Development Specialist at Antroya Debt Collection & Law Office in Turkey
Contact
Sabrina Ebeling
Corporate Communications & Marketing
Phone: +49 40 2850-1480
Photo credits: EOS