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• Revenue at high level despite challenging market situation
• More than €100 million invested in receivables and real estate in Germany
• Flexible working model including option to work remotely and from other EU countries

Hamburg, Germany, July 20, 2022 – The EOS Group, an international financial investor and technology-driven debt collection service provider with headquarters in Hamburg, reported a positive and stable performance in fiscal 2021/22. Despite the pandemic and an increasingly aggressive market environment, the consolidated revenue of the Group could be increased by 1.6 percent. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to €282.5 million and were only slightly down from the previous year (€312.4 million). This was due primarily to the war in Ukraine and the associated precautionary accounting measures taken by the company. “We owe last year’s success primarily to our more than 6,000 employees in 24 countries. Every single day, and in what are volatile times, they make EOS a more dynamic and digital place,” says Marwin Ramcke, CEO of the EOS Group.

In Germany too, EOS had a successful end to the last financial year 2021/22: Although revenue declined slightly on a year-on-year basis due to the challenging market situation, it remained high at €274.8 million. To reinforce its leading position on the German market, EOS invested more than €100 million in receivables and real estate in Germany last year. In addition, the company pressed ahead with its internal digitalization process and significantly improved its collection software based on machine learning algorithms.

Hybrid working model increases the appeal of EOS as an employer

“We are constantly improving in areas like data analytics, intelligent software and agile working methods. Ultimately, however, it is our employees who are the crucial factor in our success,” says Andreas Kropp, member of the EOS Group’s Board of Directors with responsibility for the German market. “This is why we are working intensively on developing the working models of the future and looking at how we can make EOS even more attractive as an employer.” As well as converting office spaces according to ‘new work’ principles, a hybrid working model was introduced that allows staff even more flexibility. For example, the teams decide for themselves how often they meet in the office and/or work remotely. And from August 2022, EOS employees in Germany can also work up to 30 (work) days a year from another EU country, depending on their role.
 

Social responsibility: Supporting financial literacy in more than 900 schools

EOS has set itself major long-term goals with the corporate responsibility strategy it introduced in the last financial year. One of these initiatives is providing support for the financial education of schoolchildren via the company’s non-profit subsidiary, the finlit foundation. More than 900 schools in Germany have already incorporated the multi-award-winning ManoMoneta program for children aged 9-12 into their curriculum. Meanwhile, the international roll-out has begun. The program was launched in the Czech Republic in June 2022, and other countries are set to follow.

Go to our virtual press area for more detailed information on fiscal 2021/22 and to download our Annual Report.

About EOS Group

The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 45 years of experience and branches in 24 countries (as at fiscal 2021/22), EOS offers its some 20,000 customers worldwide smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, insurance, mobility, utilities and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.

For more information on EOS, please go to: de.eos-solutions.com

Contact for press and media:

Daniel Schenk, Team Lead Corporate Communications German Market
Marc Heuer, Corporate Communications & Marketing EOS Group

Email: presse@eos-solutions.com
Tel: +49 40 2850 1222

Hamburg, April 6, 2022 –  Spring is a time of renewal, and EOS is no exception: The EOS Group has launched its new corporate identity. With a new logo and corporate design, the international financial services provider is presenting itself as a modern player on the European market for receivables management. “With the new brand we are reinforcing the commitment we already communicated last year with the introduction of our claim ‘Changing finances for the better’, says Marwin Ramcke, who became the new CEO of the EOS Group in February. “With more than 6,000 employees in 24 countries, we work hard every single day to change the financial situation of our customers, partners and defaulting payers for the better. With this in mind, we are investing heavily in digitalization and are making even greater use of AI-based collection processes and our international network.”

Modified design reflects how EOS has changed

The Group, which reported revenues of €792.5 million in fiscal 2020/21, aims to complete its worldwide brand rollout within the next 12 months. “I am delighted that the Board of Directors opted against an evolutionary development of the brand but instead took the plunge and embraced a disruptive design,” says Lara Flemming, Senior Vice President Corporate Communications & Marketing at EOS. “If we had merely tweaked the brand, we would not have done justice to the huge transformation that EOS has undergone in recent years. Now we can hardly wait to work with our international colleagues to make the new EOS brand visible at all touchpoints.”

The focus of the brand relaunch is on customers and potential employees. “With the new brand identity we want to convince even more companies that EOS is their best partner for the purchase and processing of outstanding receivables,” says Flemming. “To ensure that we live up to our commitment we are constantly looking for new talent throughout Europe that can help us move forward. Our people are our most important asset. We are therefore positioning ourselves to high potentials as a modern and attractive employer.” EOS received support with the brand relaunch from Hamburg-based Syndicate Design AG as lead design agency.

New logo stands for internationality, focus and dynamism

The new logo was released from the box that had framed the letters for years. “Nothing should stand in the way of our mindset and actions,” says Flemming. The lowercase ‘e’ in the new EOS logo embodies our internationality and ongoing digitalization. “In English, the ultimate global language, most words are written in lower case,” explains Flemming. “In addition, the lowercase ‘e’ is also familiar from business terms like e-commerce, where it stands for electronic, or digital processes. We felt that it was very fitting to write our company name in lowercase letters in the logo in future.” The large ‘O’ in the center of the logo symbolizes EOS’ focus and strong purpose. The unfinished ‘s’ at the end gives the logo momentum. It reflects the thirst for change of a company that has constantly reinvented itself since it was established in 1974. “Today, the world is changing faster than ever. And we are actively shaping this change. The ‘s’ in the logo says that our development will never be finished and we will always strive to adapt to circumstances,” says CEO Ramcke. “With the new brand, we are emphasizing that we want to continue to set standards, in the entire European financial sector, over and beyond the debt collection segment.”

About EOS Group

The EOS Group is a leading technology-driven investor and service provider in the receivables management industry. With over 45 years of experience, EOS offers some 20,000 customers in 24 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,000 people and is part of the Otto Group.

For more information on EOS Group, please go to: www.eos-solutions.com
 

Hamburg, February 1, 2022 – The EOS Group has a new CEO: In February 2022, Marwin Ramcke assumed responsibility for the business of the international financial services provider and investor, one of Otto Group’s designated ‘focused growth companies’. The 42-year-old succeeds Klaus Engberding, who has left the company for personal reasons. 

Until now, Ramcke has been responsible for the region of Eastern Europe within the Executive Board. In recent years, EOS has evolved from a national debt collection service provider to a financial investor of international caliber that now generates a major part of its earnings abroad. In his new role, Ramcke will continue to drive this process. 

“I regard it as a privilege to be the CEO of one of the leading receivables management companies in Europe. I am driven by the desire for progress, and my goal is not only to keep EOS at the forefront of the sector but also to set benchmarks in the entire financial industry,” says Ramcke, who has worked for EOS since 2007. “In this context, I see the great diversity within our company as an opportunity, and would like to take the worldwide collaboration between all EOS colleagues to a new level.” The EOS Group currently employs more than 6,000 people in over 20 countries.

Strong growth in Eastern Europe

Carsten Tidow, former Head of Division Management Eastern Europe at EOS, will succeed Ramcke as the director responsible for the Eastern European region. EOS has enjoyed significant growth in Eastern Europe in the last few years and meanwhile operates in 15 countries in the region. In fiscal 2020/21, the company invested €195.3 million in non-performing loans (NPL) in this region and is increasingly evolving into a technology-driven financial investor. “In the coming years, Eastern Europe will continue to be an exciting growth market for our company,” stresses Tidow. “As a new member of the EOS Board, I would like to build on the successful work done by Marwin Ramcke in recent years and continue to develop our business in this region.”

About EOS Group

The EOS Group is a leading technology-driven financial investor and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,800 people and is part of the Otto Group.

For more information on EOS Group, please go to: www.eos-solutions.com 

Hamburg, January 13, 2022 - The Chair of the Executive Board of EOS Holding GmbH, Klaus Engberding, will be leaving the international financial service provider on January 31, 2022, for personal reasons. Managing Director Marwin Ramcke, who is currently in charge of the region Eastern Europe, will become Chair of the Executive Board, effective February 1, 2022. This change also means that Carsten Tidow will take over the Eastern European business as of February 2022.

Klaus Engberding began his career in the Otto Group in 2000 as part of the Executive Board of the former joint venture OBI@OTTO. Since November 2007 he has been a member of the Executive Board of EOS Holding GmbH. In this capacity, he made a major contribution to the successful development of the region of Eastern Europe. Starting in 2008, Engberding was responsible for the German business of the financial service provider. Since March 2017, the now 54-year-old has been Chair of EOS Holding GmbH.

Marwin Ramcke, who will act as new Chair of EOS Holding GmbH, effective February 1, 2022, also started his career in the Otto Group as part of OBI@OTTO – in November 2001. In September 2007, he moved to EOS, and in March 2017 he assumed responsibility for the entire Eastern European business of the financial service provider. Since then, he has continuously pursued the successful expansion of this business.

His successor will be Carsten Tidow, who has worked for the Otto Group since October 2000. After stops at OTTO and Eddie Bauer, he dedicated many years from 2005 onwards to the consulting firm Ernst & Young. In July 2010, the manager with a degree in business administration decided to continue his career at EOS Holding GmbH. Most recently, Tidow held the position of Managing Director at EOS International Beteiligungsverwaltungsgesellschaft mbH.

Klaus Engberding, Chair of Executive Board at EOS Holding: “I would like to thank all my colleagues in the EOS Group and all my companions on this journey in the Otto Group. Your trust and the cooperative collaboration over the years has been greatly appreciated. I wish my successor Marwin Ramcke the greatest possible success in his new role.”

“I owe a tremendous debt of gratitude to Klaus Engberding for his successful commitment to and the further development of the EOS Group. Over the last few years, his performance has been outstanding, as he has safely steered the company through the pandemic. I wish him all the best personally and professionally for the future,” says Petra Scharner-Wolff, Group Chair of Finance, Controlling and Human Resources at the Otto Group. “At the same time, I am very pleased that we have been able to gain Marwin Ramcke as the successor to Klaus Engberding as Chair of the Executive Board of the EOS Group. He possesses all the skills required to continue the excellent work of Klaus Engberding after February 1 of this year.”

• EOS clearly profitable despite slight decline in revenue and earnings
• High level of investment in secured and unsecured receivables accompanied by targeted cost-cutting measures
• Corporate responsibility to be firmly embedded in business model

Hamburg, August 11, 2021 – Despite all the challenges of the COVID-19 pandemic, the Hamburg-based EOS Group successfully concluded its 2020/21 financial year (ending on 28 February). With a slight decline in revenue of 7.1 percent to EUR 792.5 million, the financial investor and technology-driven debt collection service provider reported earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 312.4 million (previous year: EUR 343.4 million). Apart from the restrictions on collection activity due to statutory moratoriums in several countries, the financial year was marked by a decline in the volume of non-performing loans (NPLs) on offer on the receivables market. Nevertheless, EOS was once again able to invest a significant sum (EUR 534.3 million) in secured and unsecured receivables and real estate in need of restructuring.

“In view of the difficult conditions of the last year, the positive operating result was by no means a given,” says Klaus Engberding, CEO of the EOS Group. “We needed to continually assess the wider implications of the pandemic, make the right investment decisions and adjust our costs accordingly. I am therefore extremely proud of the fantastic achievement of our teams who faced up to these challenges and made this success possible through their dedicated collaboration.”

Social responsibility to become integral part of business model

The ongoing development of the organization and heavy investment in IT to improve business operations were the key drivers behind the sustained stability of EOS. The values-driven yet forward-looking approach of EOS, which is part of the Otto Group, also contributed to its success. With a new corporate responsibility (CR) strategy, the EOS Group aims to firmly embed four key actionable areas into its business model in future. In this context, the focus is on solution-driven and sustainable debt relief for defaulting consumers, proactive funding initiatives and (financial) education measures, climate-neutral operation by 2030, and the championing of strict and binding industry standards in all 26 countries where the company is located. 

“As one of the leaders in our industry we are absolutely aware of our responsibility towards society. Through our actions, we do not just want to help the economic system to function by improving the financial situation of our clients and of defaulting payers; we also aim to use our new CR strategy to do our part to change the world we operate in for the better overall,” says Engberding.

Overview of key figures:

	2020/21	2019/20
Sales revenue (in EUR million)	792.5	853.1
of which
Germany	289.1	303.3
Eastern Europe	249.7	266.7
Western Europe	207.1	232.0
North America	46.6	51.0
EBITDA (in EUR million)	312.4	343.4

Different figures may appear in tables due to rounding.

Germany remains the most important EOS market

With a turnover of EUR 289.1 million and a 36.5 percent share of consolidated revenue, Germany continues to be the region with the highest revenue within EOS Consolidated. At EUR 168.2 million, the investment level in receivables and real estate was stable. “Our success is primarily due to our operational excellence and understanding of our customers’ needs, which makes us a strong and reliable partner in the debt purchasing and fiduciary collection business,” says Andreas Kropp, member of the EOS Group's Board of Directors with responsibility for the German market. “Even in this challenging year, we continued to systematically pursue the digitalization of the company and in doing so have given a substantial boost to our future viability.”

As a longstanding member of the German Association of Debt Collection Companies (BDIU), EOS has continued its commitment to high ethical standards in the industry. In the last financial year it also established an in-house ‘hardship case community’, where specially trained personnel find solutions for cases of debt affecting people in permanently dire financial straits. Moreover, the company is committed to financial education for children and young people through its finlit foundation, whose ‘ManoMoneta’ initiative has already reached more than 100 schools.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its focus is on banks and companies from the real estate, telecommunications, energy supply and e-commerce sectors. EOS employs more than 6,800 people and is part of the Otto Group.

For more information on EOS Group, please go to: www.eos-solutions.com

Hamburg, August 3, 2021 – For the 17th time in a row, Scope Hamburg, formerly Euler Hermes Rating, has given EOS Holding an A rating. Thanks to the company’s high earnings and very stable cash flows, the rating agency once again confirmed the excellent credit standing of EOS. The rating rationale also emphasized the extensive experience of EOS, as a financial services provider and investor, in the valuation, acquisition and recovery of non-performing receivables, its leading market position in Germany and strong market position in Europe.

EOS weathered the COVID-19 crisis solidly and was able to cement the trust of its business partners. Accordingly, Scope Hamburg rates the company’s financial risk as low and its capital structure, deleveraging potential and interest coverage ratio as good or very good. The rating agency also expects the company’s earnings to grow in the current 2021/22 financial year.

Sustained investment at a high level

“The last financial year was particularly challenging. We needed to assess the potential effects of the crisis in good time and make the right investment decisions. By successfully bringing down costs during this period, the decline in earnings stayed within acceptable limits and EOS made a clear profit, even in this crisis year,” explains Justus Hecking-Veltman, Chief Financial Officer of the EOS Group. “For our development going forward, two decisions were important: Firstly, we again invested heavily in receivables packages. And secondly, we systematically pursued the upgrade of our IT systems to enable us to manage the company even better and with the use of more digital tools in future.”

EOS has stepped up its activities as a financial investor in recent years and has become established in many countries as a market leader for the purchase of debt packages. In fiscal 2020/21, the company invested EUR 534.3 million in unsecured and secured receivables and real estate in need of restructuring.

About EOS Group

The EOS Group is one of the leading technology-driven financial investor and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 45 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, insurance companies, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

Further information about the EOS Group: www.eos-solutions.com

Hamburg, June 7, 2021 – The phone dunning specialists EOS Serviceline GmbH (ESL) and EOS Communication Center Nürnberg GmbH (EOS CCN) will become part of EOS Deutscher Inkasso-Dienst GmbH (EOS DID) with retroactive effect from March 31, 2021.

The merger of the three EOS companies will result in even closer collaboration for professional receivables management on the German B2C debt collection market. All subsidiaries in Hamburg, Berlin, Potsdam, Kamp-Lintfort and Nuremberg will be retained and will in future pool their expertise to benefit customers to an even greater extent.

EOS DID was established in Hamburg in 1974 and is the original company of the international EOS Group. With close to 50 years experience in receivables management, the company combines digital collection processes with professional phone dunning and delivers impressive results with its innovative technologies and high-quality receivables processing.


About EOS Deutschland

EOS Deutschland, which has its head office in Hamburg, is a wholly-owned subsidiary of the Otto Group. The EOS Group has been providing receivables management services for almost 50 years. With its more than 60 subsidiaries and affiliates it is represented in over 25 countries.

In both the fiduciary collection and receivables purchasing segments, EOS takes tailored measures and leverages the synergies from its decades of experience in receivables management and the use of cutting-edge technology. Companies from a wide range of sectors, including banks and insurance companies, e-commerce and energy utilities, rely on the experience of the collection specialists at EOS Deutschland.

More information

• One in ten Germans has taken on debt during the crisis, and equally as many have been unable to meet their liabilities
• Debt caused above all by living expenses
• Single parents (26 percent) and young people (18 percent) disproportionately affected

Hamburg, February 25, 2021 – The Covid-19 pandemic is having a profound impact on the consumption patterns and financial situation of many consumers in Germany. As a result of the outbreak of Covid-19, around one in ten has been forced to take on debt. These are some of the insights from the recent Covid-19 Financial Report by financial services provider and investor EOS, based on a representative survey in five European countries. The report shows that the respondents from Germany borrowed money mainly just to make ends meet: 39 percent of the Germans with debts have borrowed money to cover their ongoing living expenses, while 29 percent borrowed to cover housing costs and 20 percent for health-related costs. The majority (57 percent) had debts of up to €2,500, while 40 percent owed even more than that. One problematic issue is that 12 percent of respondents stated that since the start of the pandemic they have no longer been able to pay back their liabilities.

“We are currently in an exceptional situation that was difficult to predict and hard to plan for, and that nobody expected. If some people are then forced to take on debt temporarily to cover the necessities of life, that is perfectly understandable. However, it is highly problematic if they can then no longer meet their obligations as a result,” explains Andreas Kropp, member of the EOS Group’s Board of Directors with responsibility for the German market.

Single parents and younger people suffer particularly from the crisis

The pandemic is hitting single parents the hardest, with one in four (26 percent) stating that they have incurred debt as a result of Covid-19. As many as 23 percent have even ended up with excessive debt. Moreover, 39 percent of single parents fear that they will have to borrow money in the next six months as a result of the Covid-19 crisis. Another population group with a disproportionately high financial burden consists of young people aged 18 to 29, 18 percent of whom said they had got into debt because of the pandemic. By way of comparison, this was the case for just 6 percent of 50-65 year-olds. In addition, 31 percent of the younger generation fear that they are going to have to take on debt in the future, whereas this applied to just one in ten of older respondents.

Germany still in a comparatively good position

To some extent, a European comparison paints quite a different picture. Whereas in Germany 12 percent of respondents had got into debt, this situation had affected 15 percent in Spain, 19 percent in Croatia, 28 percent in Romania and as many as 32 percent in Bulgaria. “German government measures like short-time work payments or economic assistance have helped to protect many Germans from debt due to the pandemic,” says Kropp. “Accordingly, Germany has so far come through the crisis with relative stability.”

Germans are cutting expenditure above all on vacations, but are keen to travel again soon

The strained economic situation is nevertheless being reflected in the consumption patterns of Germans. A large majority (80 percent), for example, have refrained from necessary or planned expenditure during the pandemic. German consumers most often went without their vacation (65 percent), but were also cutting spending on furnishings (21 percent), renovations (19 percent) as well as on health (12 percent) and education (12 percent). And after the crisis? Above all, Germans are longing to travel again. After the pandemic is over, 60 percent plan to spend money on a vacation first.

About the EOS Group’s Covid-19 Financial Report

On behalf of the EOS Group, online survey specialist Dynata polled 7,000 consumers (of whom 2,000 were Germans) aged 18-65 in Bulgaria, Germany, Croatia, Romania and Spain. The respondents provided information about how the Covid-19 pandemic had affected their consumption patterns and financial situation. The survey was conducted in January 2021 and is representative of the (online) population aged 18 years and over in the participating countries.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, insurance companies, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

Hamburg, Germany, December 1, 2020 – On Friday the German Parliament adopted a new debt collection law whose provisions include a reduction in fees charged. EOS, one of the largest German debt collection companies and a major buyer of NPLs on the market, expects that this will have negative consequences for many creditors. The law is expected to enter into force in October 2021.

“We welcome the government's intention to improve consumer protections through the new debt collection regulations. However, we do see a risk that SMEs in particular will experience a higher number of payment defaults because it will no longer be possible in future to recover small amounts cost-effectively, for example,” explains Andreas Kropp, member of the EOS Group's Board of Directors responsible for the German market. “In addition, payment practices could deteriorate, which has a negative impact on creditors and the economy in general.” Among other things the law provides for a lower collection fee in the event of small claims of up to €50.

Even now, in keeping with its purpose “For a debt-free world”, EOS does not always exhaust the fee options available to it under the statutory framework, so as to give defaulting payers a realistic chance of paying back their outstanding debts. Moreover, the company has established a dedicated team to look at cases of hardship and seek individual solutions depending on the life circumstances or age of the consumers involved. “Anyone who engages in dialog with us can rely on our willingness to talk. Unfortunately there will always be people who do not have a genuine interest in settling their bills,” says Kropp. “I think there is a danger here that the new law will be seen as an invitation to incur debts, to the detriment of creditors and all consumers who do pay their bills on time. In addition, I would have preferred to see more centralized oversight of the debt collection sector, so that the few black sheep operating in our industry are no longer able to do business.”

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

• Only 35 percent of Germans trust companies to handle digital data
• Banks and online payment providers enjoy the greatest trust overall, but there is less trust than in other countries
• Germans particularly cautious about health data

Hamburg, October 27, 2020 – Digital data are a valuable asset for companies. Data helps companies better understand their customers and their preferences and respond to market trends. However, the willingness of consumers to disclose their data is crucially dependent on trust. In this respect, companies in Germany have not fared particularly well until now, as only 35 percent of Germans trust companies to handle digital data. This puts Germany in the European average (mean value: 33 percent). The lowest level of trust is in France (18 percent). These are some of the findings from a representative survey entitled “What’s the value of data?” conducted by financial services provider and investor EOS in 17 countries. Germans have good reason to be concerned, as more than one in five consumers in Germany (22 percent) has had negative experiences with disclosing their data online. Only Bulgaria, North Macedonia, Poland and the Czech Republic have higher percentages in this regard.

More skepticism towards banks and health data than in other countries

There are clear differences between sectors: In Germany, banks and financial services providers enjoy the greatest level of trust when it comes to handling customer data (47 percent). However, in an international comparison, Germany is below the average in this context (Europe: 54 percent, USA: 56 percent, Russia: 54 percent). The fact that in all countries, financial data are regarded as the most worthy of protection shows how important trust is in this segment. In this respect, Germans do not have more concerns than other nationals, however, they are the only respondents to find insights into their bank accounts even more sensitive than account and credit card details. What is noticeable is that in Germany, health details are considered to be particularly sensitive. The majority of Germans would not hand over this data even to a company they consider trustworthy. Whereas 31 percent of Europeans would disclose health data for money, in Germany the figure is only 18 percent. Like consumers in all the other countries polled, Germans are least likely to trust social networks and messaging services (12 percent).

Data minimization and transparency create trust

The challenge for companies is to show consumers in a transparent and credible way that they will treat their data responsibly. This is something that EOS Deutscher Inkasso-Dienst is also working on, as Dr. Henning Stolze, Head of Data Governance & Data Management, explains: “EOS uses data to achieve the best possible individualized management of receivables, and this benefits defaulting payers as well. We need to make this more transparent and at the same build trust that the data will only be used for very specific purposes.” According to Stolze, the GDPR (General Data Protection Regulation) can help significantly towards achieving this. Thanks to its clear-cut framework, it has already increased trust in the use of data in many places and has created the necessary transparency for consumers about what happens with their data.

Call to action: continue to build trust

As the survey shows, gaining and building trust is still a major work in progress for many companies in Germany as well. “We need to move away from information asymmetry and give consumers back their sense of control over their data,” says Stolze. The survey revealed that a lot of Germans feel that they often do not have a choice about disclosing their data. Around two thirds (63 percent) complain that without disclosing their details they otherwise cannot even make full use of online services. In addition, more than half of German consumers feel they do not have enough information about how to prevent or limit the disclosure of their data.

Data minimization in self-service portals

One example of data minimization is the EOS service portal for defaulting payers. Clemens Hosemann, Data Privacy Manager at EOS Deutscher Inkasso-Dienst, explains how this helps build trust: “Via the portal we only collect the data absolutely necessary for the payment process. This allows consumers to settle their debts quickly and simply by themselves, as only the claim number, amount and necessary payment information are requested. No other personal data needs to be provided. Only those wishing to have a customized processing arrangement may opt to volunteer additional details.”

About the representative EOS survey “What's the value of data?” 2020

The EOS survey, which was conducted in partnership with market research institute Kantar in the spring of 2020, is representative of the (online) population over the age of 18 in the 17 countries polled. A random sample of 1,000 respondents from each of the countries Belgium, Bulgaria, Croatia, Czech Republic, France, Germany, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, the UK and the USA, and 300 respondents from North Macedonia, was used for the analysis. The survey participants answered questions on their personal handling and disclosure of data, their trust in companies and their willingness to sell data for compensation.

You can download other survey results and infographics, and a free white paper, here.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

For more information on EOS Group, please go to www.eos-solutions.com

• Opportunity for companies: More than a third of respondents in favor of “compensation for data”
• Just 23 percent have already been made an offer to disclose their data
• Majority of Germans not aware of the value of their data

Hamburg, October 6, 2020 – In today's digital environment, data like bank account number, date of birth, address, health details or purchasing preferences have become a key economic asset. This is why increasingly certain questions about the value of data and how it is handled are becoming a matter of public debate. This has also been borne out by a recent representative survey entitled “What's the value of data?” conducted in 17 countries by financial services provider and investor EOS. The survey found that almost 60 percent of German consumers think that they should be compensated for the use of their data. The willingness of German consumers to sell their data is surprising: At 36 percent, Germans come in at slightly above the European average (34 percent) and are not as cautious as their reputation suggests. In the under-35 cohort, the figure even increases to almost half (46 percent). A good 22 percent have already taken up a “data for compensation” deal, which is also higher than the European average of 18 percent.

Trust and type of data are crucial for disclosure

The willingness to share personal information with companies depends on consumer trust in how they handle the data, particularly when it comes to complying with statutory regulations. However, another relevant factor is the type of data involved. For example, according to the EOS survey around 60 percent of Germans would disclose personal information or data on purchasing decisions and preferences for products and brands in return for money. Interaction data or data on surfing behaviors are also seen as rather unproblematic (45 percent). However, account or credit card details, and insights into their bank account, are considered by a vast majority to be too sensitive to sell (less than 10 percent). When asked about their specific compensation preferences, around half of the respondents found material rewards and discounts particularly attractive, while there was less demand for privileged customer status (18 percent) and better services (13 percent).

Data-based analyses and customized solutions

The survey makes clear that companies are often still not exploiting the potential of encouraging their customers to disclose information and then using this data effectively. A look at receivables management shows that this can be worthwhile. “We evaluate debt collection processes to constantly improve our services with the help of machine learning algorithms,” explains Jakob Spitzer, Head of Analysis & Control at EOS Deutscher Inkasso-Dienst: “In Germany in particular, the legal framework provides a sound foundation for an appropriate handling of data. With the help of a robust database, we determine the most efficient action to be taken next in the collection process. We see data as the fuel for analytical decisions, therefore it is a valuable resource. The better the data available, the better for all parties, because the defaulting payers also benefit from realistic payment plans.”

Dr. Henning Stolze, Head of Data Governance & Data Management, EOS Deutscher Inkasso-Dienst, adds: “Companies need to start being more transparent about compensation for data and how it is used. That means also pointing out the options for what a consumer can specifically get in return for providing data. This allows both sides to benefit.”

Lack of clarity about the value of data

The EOS survey revealed that only one in five Germans had been offered compensation to disclose certain details. However, there is still a lack of clarity about the specific monetary value of data. For example, 65 percent of Germans believe that most consumers are not aware of the monetary value of their data. Although 78 percent of respondents would sell their personal information to a trustworthy company, only around a half of them (47 percent) actually had a specific price in mind. For about 43 percent of them this was less than 50 euros, while another 20 percent specified a range of up to maximum 100 euros. However, 17 percent would be willing to disclose data for a sum of up to 500 euros, while one in five would even hold out for more than 500 euros as compensation.

“The uncertainty about the value of data affects all parties equally, whether consumers or companies,” says Stolze. “Everyone is familiar with the saying ‘data is gold’, but what does that actually mean? At EOS this resulted in a project where we defined what were the most valuable data fields for us and determined as specific a value for them as possible based on relevant parameters like risk avoidance or cost reduction. If as a company we quantify the value of data to us this can provide a basis for very sound decision-making. Because once you are aware of the value of data you treat it very carefully. It's a discussion that is set to continue over the next few years.”

About the representative EOS survey “What's the value of data?” 2020

The EOS survey, which was conducted in partnership with market research institute Kantar in the spring of 2020, is representative of the (online) population over the age of 18 in the 17 countries polled. A random sample of 1,000 respondents from each of the countries Belgium, Bulgaria, Croatia, Czech Republic, France, Germany, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, the UK and the USA, and 300 respondents from North Macedonia, was used for the analysis. The survey participants answered questions on their personal handling and disclosure of data, their trust in companies and their willingness to sell data for compensation.

You can download other survey results and infographics, and a free white paper, here.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

For more information on EOS Group, please go to www.eos-solutions.com

Berlin, September 18, 2020 – The EOS Group will provide the President of the German Association of Debt Collection Companies (BDIU) for another four years. Kirsten Pedd, Chief Compliance Officer and Head of Public Affairs for the international financial services provider, was unanimously confirmed in office yesterday by the association's members. Pedd, who has been representing EOS in the BDIU for almost 20 years, was the first woman appointed to lead the association in 2016.

“I am very pleased that the members of the BDIU have given me their vote of confidence by re-electing me,” says Pedd. “I am especially proud that we were able to adopt our Code of Conduct, which shows that responsibility and fairness are not just empty words for us but a real commitment.”

The Code of Conduct unanimously adopted at the AGM covers the entire life cycle of a receivable, from acceptance of the collection order and communication with defaulting payers to other obligations related to the processing of payments and the handling of complaints and queries. Kirsten Pedd was the driving force behind its development.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

Hamburg, September 16, 2020 – EOS Deutschland is the only debt collection firm to be given the distinction “most innovative company” by Focus and Focus Money magazines this year. The study showed that as a leading provider of receivables management services, EOS is setting the benchmark in its sector. The investigation analyzed more than 18 million statements in digital media and rated the perceived innovative strength of the around 5,000 German companies with the largest workforces. The assessment looked at five aspects: innovation activity, investments, R&D, product innovations and technology.

“It is fantastic that the investment and huge commitment we have made in the optimization of our collection processes in recent years has obviously been so positively received,” says Jürgen Borgartz, Managing Director of EOS Deutschland. “We are thrilled to receive this award and will continue to do our utmost to support our clients with innovative, data-driven solutions for processing their outstanding receivables. At the same time we are investing in technology that facilitates individual installment plans that take account of the financial situation of the defaulting consumers, particularly in the current circumstances.”

The EOS Group, a technology-driven financial investor and service provider operating in 26 countries worldwide, invested more than €25 million in innovative technologies in fiscal 2019/20. Around 500 employees worldwide are responsible for developing and implementing digital processes. In Germany, the focus is on developing a proprietary AI-based collection software program that will make receivables processing even more efficient in the future. Based on intelligent data analysis, the system helps EOS specialists decide the best actions to take next in the collection process. Compared with conventional processing methods, the company is achieving an increase in payment receipts of around 10 percent with the help of the software.

Other examples of successful innovation projects from EOS in Germany are data-driven portfolio valuation when purchasing receivables packages, the wide range of modern payment methods like Apple Pay or Google Pay that EOS offers consumers who are settling their outstanding debts on its online service portal, and the use of artificial intelligence to ward off potential hacker attacks.


About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

• Increase in revenue due to strong business performance in Eastern Europe
• Again, a high level of investment in secured and unsecured receivables
• Strong push towards digitalization

Hamburg, Germany, July 15, 2020 – By consistently following its strategic direction as a technology-driven debt collection provider and financial investor, the EOS Group headquartered in Hamburg has again increased its revenue in the 2019/20 financial year. With a 4.8% increase in revenue to EUR 853.1 million, the previous year recorded very positive results. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew to EUR 343.4 million.

Regional strengths, push for digitalization and high level of investment key success factors

The international provider of tailored financial services, which is part of the Otto Group, can largely attribute its increase in earnings to a substantial 31.3% increase in revenue in Eastern Europe. Other important success factors include the strong push towards digitalization and the cultural development of the EOS Group combined with the consistently high level of investment of EUR 651.3 million in secured and unsecured receivables and real estate.

“I feel very proud as I look back at the last financial year. It is the most successful year in the history of the EOS Group,” says Klaus Engberding, CEO of the EOS Group. “Above all, I would like to single out the tremendous progress we have made in digitalization, with EUR 25 million invested in expanding our core IT systems, and the focus on our cultural transformation process. The use of artificial intelligence and advanced data analyses will help boost innovation in our industry. And in uncertain times like in the wake of the coronavirus pandemic, in particular, reliable processes, highly professional receivables management and sustainable financing are more important than ever for companies. We can offer all of this to our customers and we expect successful growth for our business in the coming year too.”

Please find more figures and information in our online annual report.

Germany remains most important EOS market

Germany is again the strongest performing region in the EOS Group, with a 35.6% share of the consolidated revenue. The decline compared to the previous year to EUR 303.3 million resulted primarily from the sale of EOS Health Honorarmanagement AG. Even though fewer significant debt packages were offered on the highly competitive German market, EOS won crucial revolving portfolios and confirmed its leading position on account of its many years of experience and good reputation. Totaling EUR 236.0 million, the level of investment exceeded that of the previous year – particularly in the area of unsecured receivables.

“The success in Germany is primarily due to our operational excellence and intense sales activities in close proximity to our customers. Together with numerous digitalization initiatives and our outstanding reputation – also with respect to data protection – this makes us a reliable and attractive partner for our customers,” says Andreas Kropp, Member of the EOS Group’s Board of Directors and responsible for the German market. “To secure this position and our future viability, we are focusing our investments on our most important areas: employees, culture and technology.”

More information on the EOS financial year 2019/20 in Germany.

Substantial revenue increase in Eastern Europe leads to record high

With a EUR 63.6 million increase in revenue compared with the previous year to EUR 266.7 million in the region of Eastern Europe, EOS is thrilled to achieve a record high. This can be largely attributed to much higher revenues from receivables purchases, especially in Russia and Poland, but Croatia, Hungary, Serbia and Bulgaria also made significant gains in revenue. Other major drivers included the development of collection software “Kollecto +” and the resulting increased efficiency in the processing of receivables. In the last financial year, EOS in Eastern Europe also carried out significant transactions in non-performing loans (NPL). The highest NPL investments were made in Poland, Croatia, Russia and Hungary. In addition, with an NPL portfolio comprising EUR 350 million, Bulgaria made the largest secured debt purchase on the Bulgarian market to date.

“Our strong local expertise, our approach to dealing fairly with defaulting payers and our cooperation with customers, often across borders, are all paying off,” explains Marwin Ramcke, Member of the EOS Group’s Board of Directors and responsible for Eastern Europe. “As a result, we gained important momentum in secured and unsecured debt collection and could share knowledge and expertise within the Group. We also made substantial investments in secured debt portfolios in Slovenia and Serbia, and are now in a position to process secured and unsecured receivables in all the Eastern European countries in the best possible way,” says Ramcke.

More information on the EOS financial year 2019/20 in Eastern Europe.

Stable business performance in Western Europe

In Western Europe, the very pleasing operational business performance in Belgium, France and Austria resulted in a 5% overall increase in revenue, exceeding the previous year’s result. Therefore, the regional EOS companies again held their ground as the leading provider for debt purchasing. Despite persistently tough market conditions, France stood out and made significantly larger investments in both portfolios secured by real estate and unsecured portfolios. Belgium and Spain also increased their investment activities. The nominal value of a package of 47,000 receivables that EOS Aremas in Belgium purchased from bpost bank, for example, is EUR 36 million.

“The EOS Group is very well positioned in Western Europe. Thanks to our expertise and many years of experience, especially in banking and telecommunications, we are a preferred strategic partner for our customers,” comments Dr. Andreas Witzig, Member of the EOS Group’s Board of Directors and responsible for the Western European and North American regions. “We are making huge investments in big data and analytics and are helping to resolve problems relating to NPLs. Despite the coronavirus crisis, which has hit France and Spain particularly hard, we remain a reliable partner in the field of fiduciary services and debt purchasing,” confirms Witzig.

More information on the EOS financial year 2019/20 in Western Europe.

Growing investments in North America

With a five percent increase in revenue of EUR 2.6 million, the North American region was slightly above the previous year’s result. In particular, the strategic focus on debt purchasing, in which EOS invested a total of EUR 28.8 million, almost EUR 4 million more than the previous year, paid off in the USA. In Canada, revenue was markedly above the 2018/19 financial year and thus well above target. The focus on fiduciary services, in particular, was developed further.

“The North American market is a challenging environment for the EOS Group, but Canada is developing very satisfactorily,” comments Dr. Andreas Witzig, Member of the EOS Group’s Board of Directors and responsible for the Western European and North American regions. “We have become one of the market leaders in fiduciary collection there in recent years and have clearly exceeded the expectations for revenue and earnings for 2019/20. Along with our Canadian team, we are very proud of this. In the US, our increased investment in purchase of receivables is showing positive trends. We intend to continue this focus in the current financial year,” adds Witzig.

About EOS Group

The EOS Group is one of the leading technology-driven financial investors and an expert in the processing of outstanding receivables. The company's core business is the purchase of unsecured and secured debt portfolios. With over 40 years of experience, EOS offers some 20,000 customers in 26 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, utilities, real estate and e-commerce. EOS employs more than 7,500 people and is part of the Otto Group.

For more information on EOS Group, please go to www.eos-solutions.com

• EOS survey shows fear of job losses due to AI
• Across Europe, German decision-makers are the least likely to trust AI
• Potential in receivables management, for example, is being untappe

Hamburg, November 5, 2019 – 30 percent of financial executives in Europe believe that artificial intelligence (AI) will drastically reduce the error rate in receivables management. Only 12 percent of their German peers share this opinion, putting them clearly at the bottom of the European rankings. This is one of the findings of the representative survey “European Payment Practices” 2019, which was conducted by financial services provider EOS in 17 European countries. More than a third of the managers polled in Germany consider the issue of AI to be completely overrated. Accordingly, just 6 percent look forward to working with AI. In all other countries, decision-makers are much more optimistic about this cutting-edge technology: 18 percent cannot wait to work with AI. However, in respect of the transformation potential of AI, German executives have similar views to their other European colleagues: 41 percent of Germans think that jobs in their area are at risk due to AI (average for Europe 47 percent).

AI – job killer or helpful support?

It seems logical for German managers to be slightly less worried about the threat to jobs, given that they tend to underestimate the potential of AI to improve things in their area compared with specialists in other countries. “This could be an expensive miscalculation, because it means that the potential of AI is being untapped,” says Jakob Spitzer, Head of Analytics & Data Governance at EOS Deutscher Inkasso-Dienst. Spitzer and his team are working on AI solutions that provide support with receivables management. “My experience is that the more our colleagues engage with the topic, the clearer the enormous potential of AI becomes. Because when you use AI tools it quickly becomes apparent that they help you do your own job and create new opportunities.”

So at EOS, for example, AI-supported software is designed to help collection agents choose the most promising method of contacting the defaulting payer. In this context one of the things the system does is to suggest the type of individual approach, whether by letter, phone call or SMS, that is most suitable for the respective circumstances. This allows the collection agent to process the case much faster.

Denmark vs. Germany 32 : 4

Danes have already recognized the great potential of AI: 32 percent of the decision-makers polled in Denmark were prepared to rely completely on artificial intelligence in receivables management. The European average is 19 percent and in Germany just 4 percent. Jakob Spitzer: “Those who are less wary of innovations will be quicker to tap into their potential. As one of the leading companies in receivables management we rate the potential of AI as very high.”

German companies more skeptical than their European neighbors

	Germany	Europe
“I can well imagine relying completely on artificial intelligence.”	4%	19%
“I can’t wait to work with artificial intelligence in receivables management.”	6%	18%
“The use of artificial intelligence in receivables management puts jobs at risk.”	41%	47%
“Artificial intelligence will be a trending issue in receivables management in the next two years.”	20%	30%
“Artificial intelligence is just a buzzword and is completely overrated.”	36%	36%

About the representative EOS Survey “European Payment Practices” 2019

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,400 companies in 17 European countries to ask them about the prevailing payment practices in their respective locations. In the spring of 2019, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. The annual survey has now been conducted by EOS no less than 12 times.

About EOS Group

EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company’s core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, EOS Group has a workforce of more than 7,500 and over 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce. EOS is part of Otto Group.

More about EOS Group: www.eos-solutions.com

• Half of European companies regard their degree of digitalization to be high or very high – in Germany only 26 percent do so
• Only one percent of German companies has a completely digital dunning procedure, compared with 17 percent across Europe

Hamburg, Germany, October 23, 2019 – The survey is representative and the picture it paints is unambiguous. 3,400 financial executives in 17 European countries were surveyed on behalf of financial services provider EOS. Overall, 14 percent regard the degree of digitalization in their companies compared with other sectors to be very high (Germany: 5 percent) and 35 percent as high (Germany: 21 percent). This means that German managers clearly rate their companies as the worst performers in Europe in this conjunction. Even more striking are the insights provided about dunning processes.  Only one percent of companies in Germany currently have fully digitalized dunning processes, compared with 17 percent across the rest of Europe. In two-thirds of German companies the dunning procedure has only been partly digitalized (47 percent) or barely digitalized at all (17 percent). This is despite the fact that digitalizing the dunning process significantly reduces payment defaults.

High investment requirement delays digitalization process

“As the figures show, the majority of German companies are still lagging behind when it comes to digital dunning processes. There is an acute need to take action here to avoid the risk of payment defaults,” says Justus Hecking-Veltman, Chief Financial Officer of the EOS Group. “A manual, analogue dunning system is not just susceptible to errors but generally does not reach the customer using what is the most suitable communication channel for them personally at the best possible time.”

The financial expert believes the main reason for the sluggish progress of digitalization is the high level of investment required to modify dunning processes. “The introduction of digital tools and processes calls for considerable financial resources in addition to having the right mindset,” says Hecking-Veltman. “At EOS, for example, we invested around 10 million euros in the last fiscal year alone in the digital upgrade of our core debt collection systems.”

	Germany	Europe
Very high degree of digitalization at company	5%	14%
High degree of digitalization at company	21%	35%
Fully digitalized dunning system	1%	17%
Dunning system largely digitalized	33%	24%
Dunning system partially digitalized	47%	38%
Dunning system barely digitalized	17%	17%

About the representative EOS Survey “European Payment Practices” 2019

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,400 companies in 17 European countries to ask them about the prevailing payment practices in their respective locations. In the spring of 2019, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. The annual survey has now been conducted by EOS no less than 12 times.

Downloads / further information

Please find more information on our study website.

About EOS Group

EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company’s core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, EOS Group has a workforce of more than 7,500 and over 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce. EOS is part of Otto Group.

More about EOS Group: www.eos-solutions.com

• Almost half of the European companies polled consider cyber security to be a key issue in receivables management in the next few years – but in Germany the figure is only 35 percent
• Despite the GDPR, 27 percent of the companies are not working to improve data protection

Hamburg, September 24, 2019 – Given the proliferation of news reports about hacked accounts and stolen passwords, this result is all the more astonishing: In the sensitive financial sector of all places, the issue of cyber security is not a top priority at German companies. This is one of the findings of the representative survey “European Payment Practices” 2019, which was conducted by financial services provider EOS in 17 European countries. It showed that only 35 percent of German financial executives expect cyber security to be a trending issue in receivables management in the next two years. The European average, on the other hand, is 49 percent. One alarming finding is that just 31 percent of financial executives in Germany are tackling this issue at all. The results for data protection are somewhat more encouraging, as 73 percent of respondents say that their company has taken appropriate action. But that still leaves 27 percent that are not doing so.

Cyber security is more than just data protection

In respect of data protection, only Denmark, where 81 percent of companies are actively addressing the issue, is ahead of Germany. This is gratifying, because protecting personal data is an important part of safeguarding payment details. “However, cyber security is a far larger field than data protection,” says Gunnar Woitack, Chief Information Security Officer (CISO) of the EOS Group. “It’s also about making employees aware of the risks associated with malware, for example, and establishing clear-cut security processes within the company. To ignore this issue is negligent and can lead to significant economic losses. In my view there is still a need for massive investment in this area at many companies.” To ensure the greatest possible degree of data security, companies should for example regularly engage specialized hackers to carry out what are known as ‘penetration tests’. This involves scanning the systems for breaches that can then be closed. We do this regularly for the more than 60 EOS companies in 26 countries,” says Woitack.

The major trends in receivables management in the next 2 years are …

	Germany	Europe
... “Cyber security”	35%	49%
… “Measures to improve data protection”	56%	52%

… and who is actively addressing this issue…

	Germany	Europe
... Cyber security	31%	28%
… Measures to improve data protection	73%	60%

About the representative EOS Survey “European Payment Practices” 2019

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,400 companies in 17 European countries to ask them about the prevailing payment practices in their respective locations. In the spring of 2019, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. The annual survey has now been conducted by EOS no less than 12 times.

Downloads / further information

Please find more information on our study website.

About EOS Group

EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company’s core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, EOS Group has a workforce of more than 7,500 and over 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce. EOS is part of Otto Group.

More about EOS Group: www.eos-solutions.com

• More secure online payment methods reduce payment defaults and offer great potential for German companies
• EOS survey shows that mobile payment is becoming more important especially in Germany

Hamburg, Germany, September 10, 2019 – The difficulties associated with implementing the EU Payment Services Directive PSD2 are causing its potential benefits – greater security and more choice of digital payment methods – to be overlooked. And the new directive can still make a lot of difference, given that just 27 percent of the German companies surveyed offer their customers digital payment options. This is one of the findings of the representative survey “European Payment Practices” 2019, which was conducted by financial services provider EOS. The figure of 27 percent puts Germany at roughly the European average (28 percent) but far behind innovative trailblazers like Denmark (47 percent). This is despite the fact that digital payment methods reduce payment defaults, especially when compared with payment on account, which is particularly popular in Germany.

PSD2 set to boost digital payment methods and reduce payment defaults

As the EU Directive prescribes a complicated customer authentication process for online transactions, retailers fear that many more online purchasing processes will be abandoned without completion. “This anxiety on the part of retailers is understandable,” says Klaus Engberding, CEO of EOS Group. “Nevertheless, we will soon be seeing new innovative payment methods on the market thanks to the opening of account interfaces for third-party service providers. Moreover, a higher level of security in digital transactions, for example due to the two-factor authentication process, will mean less fraud and fewer payment defaults. As professional receivables managers, we think that PSD2 genuinely does offer companies a multi-million euro potential.”

The security advantage offered by digital payment methods could be of particular interest to retailers in Germany, where even in online commerce, payment on account after receipt of the goods is especially popular. This is why 81 percent of the companies in Germany offer this method, compared with the European average of just 69 percent. Germans also love direct debit and 56 percent of companies offer this method (Europe: 38 percent). The problem for the retail sector with these payment methods in particular is that payment defaults are very frequent, as customers can refuse or revoke the payment and keep the goods.

Mobile payment gaining ground

The example of mobile payment shows that progress is being made in respect of digital payment methods. Even if it still plays a minor role overall, this form of payment is becoming increasingly important. Across Europe, 7 percent of companies offer mobile payment meanwhile, compared with just 5 percent in 2018. In Germany, customers can use mobile payment at 6 percent of the companies, a significant increase on the previous year (2018: 1 percent). The launch of Apple Pay in Germany in December is likely to be one of the reasons for this. A look at Germany’s neighbor Denmark is a good indicator of how far mobile payment could spread, as 28 percent of Danish companies already offer mobile payment options, a European record.

	Germany	Europe
	Traditional payment methods		99%	100%
Bank transfer	92%		81%
Payment on account	81%	69%
Payment in advance	73%	50%
Direct debit	56%	38%
Cash payment/payment on collection	55%	42%
Payment in installments/financing	32%	31%
Debit card	28%	28%
Credit card	23%	37%
Digital payment methods	27%	28%
Online transfers via third party providers	14%	23%
e-Wallets	13%	4%
Mobile payment	6%	7%
Cryptocurrencies	0%	1%

“Please state which of the following payment methods you currently offer your
customers for settling their bills.” / Multiple responses possible.

About the EOS Survey “European Payment Practices” 2019

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,400 companies in 17 European countries to ask them about the prevailing payment practices in their respective locations. In the spring of 2019, 200 companies with an annual turnover of more than EUR 5 million in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. The annual survey has now been conducted by EOS no less than 12 times.

Downloads / further information

You will find the complete survey report and numerous infographics in the survey section of our website: Download now!

About EOS Group

EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company’s core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, EOS Group has a workforce of more than 7,500 and over 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce. EOS is part of Otto Group.

For more information on EOS Group, please go to www.eos-solutions.com

• Financial experts see pessimism about payments as crisis indicator
• German companies lag behind compared with other European countries when it comes to professional receivables management

Hamburg, Germany, September 9, 2019 – An economic slump increases the number of defaulting payers. Accordingly, 24 percent of the German companies polled expect a deterioration in payment practices in the next two years. A year ago, only 18 percent were this pessimistic. This is one of the findings of the representative survey “European Payment Practices” 2019, which was conducted by financial services provider EOS in 17 European countries. The survey shows that German financial experts are much more pessimistic than their European colleagues. Across Europe, only 15 percent predict a deteriorating level of payment receipts. For companies, a worsening in payment practices substantially increases the risk of insolvency and reduced profitability and can therefore reinforce a negative economic trend.

At the moment, customers have never paid so punctually: in Germany, 86 percent of invoices are being paid on time. The European average is 81 percent. It’s not likely to stay that way. “The growing pessimism is a further sign of an imminent significant economic slowdown,” says Klaus Engberding, CEO of the EOS Group. “And this trend is certainly dangerous, because every percentage point shift in punctual payments impacts the economy to the tune of billions of euros, and will unfortunately make things worse in a weak economic climate.”

Risks for Germany particularly high

Professional receivables management is all the more important for companies in Germany in particular, because once the payment term has expired, companies here have to wait another 22 days on average for their money, longer than in any other country in Western Europe. One reason for this is that German companies rely on professional support for their receivables management relatively rarely. Only 31 percent work with debt collection service providers, while in the rest of Europe the average is 42 percent. This is despite the fact that external collection professionals do substantially reduce the proportion of late or not fully collected receivables. According to the EOS survey, those German companies who did use external service providers for receivables collection in the last fiscal year had just under 10 percent of their revenue returned to them. “With a view to a depressed economic climate in particular or even a recession, companies should professionalize their receivables management to a greater extent to keep their cash flows stable in the event of a decline in the level of payments,” says receivables management expert Engberding.

Payment practices in Germany and the rest of Europe are improving…

	Germany		Europe
	2019	2018	2019	2018
Receivables paid on time	86%	82%	81%	79%
Late or unrecoverable receivables	14%	18%	19%	21%

…but financial experts are expecting a reversal of this trend

	Germany		Europe
	2019	2018	2019	2018
“Payment practices will generally/significantly improve in the next two years”	7%	10%	22%	24%
“Payment practices will generally/significantly deteriorate in the next two years.”	24%	18%	15%	13%

About the EOS Survey “European Payment Practices” 2019

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,400 companies in 17 European countries to ask them about the prevailing payment practices in their respective locations. In the spring of 2019, 200 companies with an annual turnover of more than EUR 5 million in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Russia, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. The annual survey has now been conducted by EOS no less than 12 times.

About EOS Group

EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company’s core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, EOS Group has a workforce of more than 7,500 and over 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce. EOS is part of Otto Group.

For more information on EOS Group, please go to www.eos-solutions.com

Hamburg, Germany, 29.8.2019 – The fintech collectAI and debt collection company EOS Deutschland are pooling their expertise and as of now will be working more closely together.

The purpose of the collaboration is to be able to offer companies an integrated solution that combines digital and consumer-centric services in receivables management. From e-invoices via a digital billing system through the commercial dunning process to applying for enforcement procedures, the cooperation between the two Otto Group companies will leverage synergies along the entire receivables collection chain.

As a technology company, collectAI offers automated and digital receivables management upstream of the debt collection process. In the process, the Hamburg-based fintech makes systematic use of artificial intelligence and machine learning.

The collectAI software comprises modular solutions for digital invoicing and smart dunning procedures such as white label payment gateways and payment links. If receivables are still unpaid following the commercial dunning procedure, EOS can then take over the collection process. Drawing on its decades of experience in the market and using cutting-edge technology and automated dunning processes, the debt collection specialist works with the defaulting consumer to try to find a fair solution. In this context, EOS approaches the non-payers individually and in a targeted fashion across all communication channels.

“Our AI-based software achieves much higher realization rates than the analog process. Despite this, some invoices continue to remain unpaid, making a collection process necessary. Because our systems are integrated, we can conveniently pass on the outstanding receivables to EOS via an interface. This is how we achieve the best results for our customers by working together,” says Thomas von Hake, Managing Director of collectAI, about the process involved.

The prestigious debt collection company EOS uses ultra-modern technology. “Both companies have embraced the digital mindset, and this is what drives us,” says Jürgen Borgartz, Managing Director of EOS Deutschland. “And this is how we create added value for all participants.”

About collectAI
collectAI is a software platform for intelligent receivables management with digital, AI-based payment services. It offers modular or integrated options for digital payment, smart reminders and white-label payment pages. The smart technology flexibly optimizes the goals of higher realization rates, cost reduction and customer loyalty and combines digital communication channels with a variety of payment methods for a smooth process. Thus, collectAI fundamentally improves the customer experience and places the needs of the end users at the center of the service. Founded in 2016, collectAI is part of Germany’s largest e-commerce retailer, the Otto Group.

For more information please visit: www.collect.ai


About EOS Deutschland 
EOS Deutschland, which has its head office in Hamburg, is a wholly-owned subsidiary of the Otto Group. The EOS Group has been providing receivables management services for more than 40 years. With its more than 60 subsidiaries and affiliates it is represented in over 25 countries. 
In both the fiduciary collection and receivables purchasing segments, EOS takes tailored measures and leverages the synergies from its decades of experience in receivables management and the use of cutting-edge technology. 

Companies from a wide range of sectors, including banks and insurance companies, e-commerce retailers, energy utilities and public bodies, rely on the experience of the debt collection specialists at EOS Deutschland.

For more information please go to: www.eos-deutschland.de

Hamburg, Germany, July 3, 2019 – Good news for the EOS Group: for the 15th time in a row, EOS Holding, the international financial investor’s parent company, received an A-rating for creditworthiness. The auditors from Euler Hermes Rating attested that EOS continues to present a low financial risk. The rating experts cited the high stability of the company’s cash flows and the continued very high level of earnings as the rationale for the rating. The auditors also expect a stable performance for the coming 12 months.

Euler Hermes considered the longstanding experience of EOS in the valuation, acquisition and recovery of non-performing debt, its market leadership in Germany and strong position in the Western and Eastern European markets to be especially positive factors. EOS has more than 60 subsidiaries in 26 countries.

"We are delighted that the auditors again confirmed the high level and stability of our earning power, and that their report specifically emphasized our extensive experience in receivables purchasing and recovery," says Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and Chief Financial Officer. "In fiscal 2018/19 we invested EUR 668 million in receivables and real estate. We are aiming to again purchase secured and unsecured debt portfolios of this magnitude in this current financial year."


About the EOS Group

The EOS Group is a leading international provider of customized financial services. As a specialist in the evaluation and processing of receivables, EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a work-force of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

EOS welcomes the planned Code of Conduct of the debt collection industry

Hamburg, April 18, 2019 – At their annual congress the member firms of the German Association of Debt Collection Companies (BDIU) voted by a large majority in favor of developing a binding Code of Conduct for the debt collection sector. EOS emphatically welcomes this decision and will actively support the further implementation process.

“We are absolutely delighted that as well as EOS, the majority of BDIU members have endorsed the planned Code of Conduct,” stresses Andreas Kropp, Member of the EOS Group's Board of Directors and responsible for the German market. “Through a Code of Conduct of this kind, the sector is sending a strong message to government, the business community and con-sumers. The objective of EOS is always to find a fair solution to disputes be-tween creditors and consumers, to pave the way to a debt-free future,” says Kropp.

In the next few months, the draft of the Code of Conduct adopted at the BDIU Congress is set to be discussed with all relevant stakeholder groups and should be adopted definitively in the coming year. It contains principles of conduct for all important issues arising from day-to-day collection practice –from communication with the defaulting payer, to the nature and extent of the costs and fees, to dealing with complaints and queries.

Another positive outcome of the congress was the election of Brigitte Zypries, formerly Federal Minister of Economic Affairs and Energy and Federal Minis-ter of Justice, to the office of Ombudswoman of the Association. In this role Zypries will be responsible for mediating between creditors and consumers as required.


About EOS in Germany

Established in 1974, EOS in Germany is now one of the leading providers of receivables management. Through its smart services, EOS offers its customers financial security in the business segments of fiduciary collection, debt purchase and mort-gage-backed receivables. EOS in Germany is part of the EOS Group, which employs around 7,000 people to support some 20,000 customers in 26 countries around the world. Its key target sectors are banking, utilities, real estate and e-commerce.

BAWAG Group acquires Health AG and Zahnärztekasse AG

Vienna/Hamburg, 21 December, 2018 – Today, BAWAG Group announces the signing of a definite agreement to acquire Health AG and Zahnärztekasse AG from the EOS Group. Health AG, headquartered in Hamburg, Germany, and Zahnärztekasse AG, headquartered in Wädenswil, Switzerland, are two leading dental factoring market players offering dental financing products and services. The entities complement BAWAG Group’s business model by providing a bolt-on opportunity for retail and SME business growth in Germany as well as expansion into Switzerland.

Anas Abuzaakouk, CEO of BAWAG Group: "Today is another important step forward as we continue to execute on our strategy. We’ve signed our second German bolt-on acquisition in 2018 as well as paved the path to expand our footprint into Switzerland. The acquisitions of Health AG and Zahnärztekasse AG from EOS create an opportunity for BAWAG Group to enter the factoring space, a niche business segment, as well as drive new strategic partnerships. I’m excited to welcome our new colleagues into the team and look forward to working together. As we continue to execute on our strategy, we wanted to reiterate that BAWAG Group is on track to exceed all of our targets in 2018."

Klaus Engberding, CEO of the EOS Group: "With BAWAG Group we have found the best match to support Health AG and Zahnärztekasse AG during their next growth phases. I would like to thank the management and all employees for the great work they have done during the last years and wish both companies all the best for their future success."

The transaction is subject to customary closing conditions and regulatory approvals. The parties involved have agreed not to disclose the purchase price or any details of the agreement.


About Health AG

EOS Health Honorarmanagement AG is a provider of financial and IT services for the health market. With more than 2,000 customers it is one of the market leaders in German dental factoring. Since its establishment in 2005, the company has evolved from a factoring start-up to an independent company providing financial and technology services.

For more information please visit: www.healthag.de

About Zahnärztekasse AG

Zahnärztekasse AG is a financial services provider in the health sector and with 1,000 customers has become the market leader in the Swiss dental factoring segment. Its customised and modular based services, combined with an efficient IT infrastructure, relieves medical practice teams of administrative tasks and secures the liquidity of its clients. Since its foundation in 1963 the company has become established as a reliable partner to Swiss dentists.

For more information please visit: www.zakag.ch

About BAWAG Group

BAWAG Group AG is the listed holding company of BAWAG P.S.K., which is headquartered in Vienna, Austria, with the main banking subsidiaries easybank and start:bausparkasse in Austria as well as Südwestbank and Deutscher Ring Bausparkasse in Germany. With more than 2.5 million customers, BAWAG P.S.K. is one of Austria’s largest banks operating under a well-recognized national brand and applies a low-risk, efficient, simple, and transparent business model focused on Austria, Germany, and developed markets. The Bank serves retail, small business, and corporate customers offering comprehensive savings, payment, lending, leasing, investment, building society, and insurance products and services through various online and offline channels. Delivering simple, transparent, and best-in-class products and services that meet our customers’ needs is the consistent strategy across all business units.

For more information please visit: www.bawaggroup.com

About EOS Group

The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

International receivables increasing across Europe / Payment delays no more frequent for overseas invoices than for domestic invoices

Hamburg, 11 December 2018 – Global links at the economic level are on the increase. According to the ifo Institute for Economic Research, international goods trading in the whole of Europe has reached a peak, and Germany is at the forefront with the world's largest current account surplus. In combination with the spread of digitalization, this is resulting in a greater percentage of foreign customers, and consequently, a greater proportion of international receivables. Currently, 14 percent of all invoices across Europe are being issued to customers overseas, compared with 12 percent a year ago. These are some of the findings of the 'European Payment Practices' survey commissioned by the EOS Group, which conducted a poll of 3,400 companies in 17 countries. However, global customers are not regarded as being less reliable than domestic customers. 26 percent of those polled who have international receivables actually think that foreign customers pay late less often than domestic customers. This is two percent up on the figure for 2017. But 16 percent think the opposite is true and that their international clientele pays late more often.

It is primarily the Internet that is making it possible for consumers to order goods across borders. This also results in an increase in the number of invoices and receivables going overseas. At 39 percent, Slovenia currently has the highest proportion of these, followed by Denmark at 25 percent and Germany at 22 percent. For the major economies of the UK and France, the totals are just 11 and 10 percent respectively.

According to the survey, every fourth company in Europe (25 percent) assumes that there will be a significant increase in the number of international invoices in the next two years. In the case of an exporting country like Germany in particular, trading relations with other countries are of course especially strong. In Germany, more than 37 percent of respondents assume that the number of foreign receivables will grow until 2020. In Slovenia and Greece, 37 percent of companies also think this will be the case, in Denmark 31 percent and in the UK 27 percent.

Companies need expertise to deal with late payers overseas

“These figures underline that working with a service provider can be crucial in future for international receivables management in particular,” says Klaus Engberding, CEO of the EOS Group. “These specialists are familiar with the legal system in the particular country and have local experts on hand so that there is no language barrier.” There are certain decisive details that can have a substantial impact on the effort involved. For example, in some countries it is necessary to have local legal assistance or invoices and contracts need to be translated into the language of the country as evidence for valid receivables.

Companies in many countries in Europe have a large proportion of foreign customers. And just like domestic customers, some of them can also fall behind with payments. In a European comparison, German companies had the largest proportion of international customers that do not pay on time (32 percent). Only Danish companies, at 32 percent, have problems on a similar scale. In the UK, on the other hand, only 9 percent had such problems. In Eastern Europe, Slovenian companies are facing the greatest challenges, with 21 percent indicating that their foreign customers were more likely to be late payers than their domestic customers. Admittedly, Slovenia also has the highest number of international receivables. Conversely, the majority of companies in Eastern Europe have almost exclusively had a good experience with their international business. On average, 30 percent indicated that such deals were less likely to end in delayed payment than in the case of domestic business. Russian companies in particular say that customers in their own country are more often behind with payments than foreign customers (48 percent compared with 2 percent).

About the survey
The EOS Survey 'European Payment Practices' was conducted for the 11th time. In spring 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS polled 3,400 companies with at least 20 employees and an annual turnover of EUR 5 million in 17 different countries about the payment practices in their respective locations, economic developments in their countries and issues relating to risk and receivables management.

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: eos-solutions.com.

EOS Deutscher Inkasso-Dienst, as a debt collection company, today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.

Hamburg, December 11, 2018 – Consumers that have fallen behind with payments can now settle their debts at EOS using Apple Pay. Security and privacy is at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.
“We aim to help customers pay their outstanding debts quickly without complicated procedures. So offering Apple Pay is of fundamental importance,” says Jürgen Borgartz, Managing Director of EOS Deutschland. “Our top priorities are user centricity, data security and data privacy. This is why Apple Pay is an ideal match for us.”
Making payments in apps and on websites accepting Apple Pay is simple with Touch ID, or just double-click the side button and authenticate with a glance with Face ID. There’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information with Apple Pay. When paying for goods and services in apps or Safari, Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad (5th Generation and later), iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.
For more information on Apple Pay, visit: http://www.apple.com/apple-pay/

EOS Deutschland

Emerging from Deutscher Inkasso-Dienst (EOS DID), which was established in 1974, EOS in Germany is now one of the leading receivables management companies. The EOS Group, which has its headquarters in Hamburg, is a 100% subsidiary of the Otto Group and has more than 60 subsidiaries and holding companies in 26 countries. EOS implements solution-driven measures in both fiduciary collection and receivables purchasing and exploits the synergies arising from decades of experience in receivables management and the use of cutting-edge technology. Customers from a wide range of sectors such as e-commerce and mail order, banks, insurance companies, energy utilities and the public sector rely on the experience of the collection specialists from EOS Deutschland.

Customers can pay the outstanding sum via the EOS Serviceportal. The EOS Serviceportal (www.eos-serviceportal.de) allows defaulting customers to contact the company round the clock and settle outstanding debts directly.

For more information please visit:
www.eos-deutschland.de
www.eos-serviceportal.de

Every second company under cost pressure – in Germany as many as three out of four firms / Companies that outsource receivables management have fewer problems / The challenge: Keeping pace with technological change

Hamburg, 04 December 2018 – For European companies, cost pressure is the dominant issue – and that goes for receivables management as well. 49 percent of experts in this area consider cost factors to be the biggest challenge up to 2020. Equally as many are concerned about the issue of digital transformation, with 45 percent stating that in the next two years they will have problems keeping up with technological change. 43 percent are very much in favor of digitizing and automating processes. These are some of the findings of the EOS Survey ‘European Payment Practices 2018’, which polled 3,400 corporate receivables managers in 17 countries.

The digital transformation has been changing Europe for quite some time now. Nevertheless, many companies seem to be still putting off related projects in the area of receivables management. Now around half of them (49 percent) are worried about not being able to keep pace with the digital transformation, even though digitalization also provides a lot of opportunities to make receivables management more efficient. Automating processes can reduce operating costs and cut collection periods.

Across Europe, about every third company (37 percent) works with an external service provider for receivables management. “Outsourcing receivables management helps to reduce costs and distribute the load over several shoulders,” says Klaus Engberding, CEO of the EOS Group. “This means that companies create the space for themselves to tackle digitalization and automation projects.”

Germany: technological change a special challenge

74 percent of German companies, compared with 49 percent of other European companies, see cost reduction as a major challenge in the next two years. The prevailing cost pressure might have contributed to cutbacks. Important digital projects like algorithmic models and big data for a better understanding of customers fell by the wayside. The result of this is that nine out of ten of the companies polled in Germany (91 percent) assume that in the next two years they will have problems keeping pace with technological change. 86 percent also consider the automation of processes to be a not inconsiderable problem.

Increasing cyber criminality makes training necessary

If a company is increasingly deploying digital tools for receivables management its staff needs to be trained in using them. For example, a greater degree of digitization
not only means more efficiency but also a greater threat of increasing cyber crime. In Western Europe in particular, receivables managers are having to deal with this issue more and more. 34 percent of all Western European companies, but just 19 percent of Eastern European firms, describe cyber crime as a challenge. Particularly affected are Germany (60 percent) and Denmark (53 percent). Russia and Greece see hardly any risk from such attacks. “Personnel need to be thoroughly informed about the tricks that cyber criminals use and systems must be protected to the greatest possible extent. Regular training is obligatory,” says Klaus Engberding from EOS. “Often, employees are wary of using digital tools and need to be encouraged. Training the workforce to use these tools is the necessary groundwork.”

47 percent of firms consider the training of their employees to be a major project in the next two years. It's an issue that is important primarily in Germany (76 percent), Russia (55 percent) and Spain (51 percent). In Denmark and Switzerland, on the other hand, this issue is only relevant for 33 and 35 percent of respondents respectively. There is probably a particular need to train staff in using new digital tools. After all, 13 percent of receivables management experts are thinking about using artificial intelligence. This is especially true of firms in Germany (25 percent) and Romania (17 percent).  


About the survey
The EOS Survey 'European Payment Practices' was conducted for the 11th time. In spring 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS polled 3,400 companies with at least 20 employees and an annual turnover of EUR 5 million in 17 different countries about the payment practices in their respective locations, economic developments in their countries and issues relating to risk and receivables management.


The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: www.eos-solutions.com.

EOS survey shows that: Less than a third of European companies offer digital payment methods / But: Every third company is convinced that digital payment methods would lead to fewer payment delays and defaults

Hamburg, 05.11.2018 – The banking app MobilePay is installed on nine out of ten smartphones in Denmark, making it the second most widely used app in the country after Facebook, according to InstaPay, the international instant payment intelligence website. In this respect, the Danes are alone in Europe. Whereas 17 percent of companies in Denmark offer mobile payments, the European average is only 5 percent. This was one of the findings of the representative EOS Survey 'European Payment Practices' 2018, for which market research institute Kantar TNS conducted a poll of companies in 17 European countries.

A total of 29 percent of firms in Europe offer at least one modern payment method. The most common option, at 23 percent, is online transfer via third party providers such as SOFORT GmbH, which offers the Sofortüberweisung instant payment system. In second place at 5 percent, on a par with mobile payment, are e-wallets, i.e. funds on electronic platforms like PayPal. Crypto-currencies like bitcoins play hardly any role at all, with just 1 percent of firms offering this as a payment option. “What is very clear here is that outside of e-commerce, digital payments continue to play a minor role. I attribute this to the fact that many companies themselves are still in the early stages of the digitalization process. Interfaces to the customer don't come until the next stage. However, I advise companies to act quickly in this conjunction before they are overtaken by the competition,” concludes Klaus Engberding, CEO of the EOS Group. 

Few digital ambitions for the future as well 
36 percent of European companies see modern payment methods as an opportunity to reduce late and unrecoverable payments. At the same time, a majority of the European companies polled are not considering offering their customers digital payment methods in the near future. For example, 74 percent would not consider mobile payment options, 73 percent reject e-wallets and 59 percent think they can do without online transfers via third-party providers. Crypto-currencies have the highest rejection rate: 91 percent of companies cannot imagine using this payment method.    

“Demand does not seem to be great enough at the moment to replace traditional payment methods on a large scale. But for how long? Global providers like Apple Pay or Google Pay have an increasing presence in European markets. No one can afford to be skeptical about digital payment methods in the long term,” Engberding continues. 

East-West comparison
In Eastern Europe, the proportion of companies offering modern payment methods is 30 percent, while in Western Europe it's only 26 percent. The difference is particularly strong in the case of online transfers via third-party providers. In the West, 19 percent of companies rely on such payments, in the East 26 percent.

A comparison between individual countries also reveals strong differences in digital payment options. At 34 percent, Germany companies are roughly at the same level as companies from Belgium, Greece, Croatia and Hungary (33 percent each). Countries that are particularly reticent are Russia (7 percent), Spain (15 percent) and France (20 percent).

About the EOS survey 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted a telephone interview in spring 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey was conducted for the 11th year in succession. For more results from the survey please go to: https://de.eos-solutions.com/surveys

The EOS Group 
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: www.eos-solutions.com

Companies in Europa reinforce the important role of the debt collection sector / 70 percent of users of receivables management services believe that debt collection providers are promoters of good payment practices / Debt collection returns 9.1 percent of revenue to companies throughout Europe

Hamburg, 22.10.2018 – Unfortunately unpaid invoices are still part of day-to-day business life in Europe. The consequences are reduced profits and cash flow problems. In the worst-case scenario, the existence of a company may be at risk. For this reason, already a third (37 percent) of the European companies are working with debt collection agencies such as EOS. By outsourcing receivables management or selling open receivables, companies receive cash that they would otherwise not have due to payment delay or even default. This means that more than 9 percent of company revenue flows back into the economic cycle - with 9.7% the percentage is slightly higher in Western Europe than in Eastern Europe with 8.6%. Companies report that the percentage is significantly higher in Germany. Here, the share of revenue being returned to companies as a result of debt collection services is 20.7 percent. These figures are confirmed by the representative EOS survey 'European Payment Practices' 2018, which was conducted for the 11th time this year in partnership with market research institute Kantar TNS.

The following result underscores the cooperation between companies and debt collection services and will certainly not only surprise supporters: Improved payment practices in society because of debt collection. 70 percent of the companies that work with receivables management services agree with this statement. They are observing in practice that using debt collection companies has a positive influence on payment practices of consumers as well as companies. Nearly a third of the companies (28 percent) that have not yet used a debt collection company also believe that the debt collection sector has an effect on society’s conscientiousness regarding payment practices.

The business world and debt collection complement each other
Those who do not rely on debt collection have to make up for payment defaults in other places or collect overdue payments on their own – and frequently companies lack the resources to do so. The relevance of the funds recovered by external debt collection services is shown by the way the funds are used. 47 percent of the companies use these funds to secure and create jobs. 61 percent of the companies surveyed report that they are paying their own debts in time. Other positive ways companies reinvest the funds are expansion of the segment (35 percent) and additional investments in research and development (27 percent). All are important activities required to keep the business of European companies going. “Frequently many people will only realize how relevant a sector is when they imagine that it would no longer exist. If one takes economy without debt collection to its logical conclusion, there would be no immediate consequences for non-payers, which would be very alarming from a moral as well as economic perspective. Obviously this scenario emphasizes how important debt collection companies are for our society,” concludes Klaus Engberding, CEO of the EOS Group.

 

About the EOS survey: 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted phone interviews in the spring of 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey is being conducted for the 11th year in succession. For more results of the survey go to: https://de.eos-solutions.com/surveys

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information please visit: www.eos-solutions.com.

European companies suffer the consequences of payment delays / Profit losses and cash flow problems especially serious, despite improvements on the previous year

Hamburg, 15 October 2018 – Consumers are increasingly demanding more flexibility. For example, they want to decide for themselves where and how they stream movies, or buy a washing machine. However, when consumers adopt these same liberties when it comes to paying their bills, this can have serious implications for the economy. If customers do not pay their bills on time, for example, companies sometimes find themselves in financial difficulties. These are some of the findings of the representative EOS survey 'European Payment Practices' 2018, which was conducted for the 11th time this year in partnership with market research institute Kantar TNS. Alarming result: profit losses and liquidity shortfalls are the most frequent effect of delayed payments throughout Europe. Although there has been a slight improvement in this area compared with last year, 42 percent of companies polled still reported a reduction in profit (2017: 46 percent) and 38 percent were battling cash flow problems (2017: 39 percent). Other repercussions are a decline in investments (23 percent), a restrictive hiring policy (19 percent) and price increases (18 percent). The negative ramifications are very pronounced in Eastern Europe in particular, where 45 percent of firms complained of loss of profit compared with 37 percent in Western Europe. There is an even greater difference in respect of cash flow problems, which affected 42 percent of companies in Eastern Europe compared with just 31 percent in the West.

Major problems for Greek, Spanish and British companies
A look at the individual countries reveals significant differences. Spain and Greece stand out for all the wrong reasons, with 59 percent of Spanish companies suffering downturns in their profits due to payment delays and defaults. A good 57 percent of Greek companies reported scant liquidity, and 45 percent, the highest figure in Europe, were seeing a decline in investments. The situation is also problematic for British companies, with 54 percent reporting reduced profits.

German companies are in a much better position. Only every fifth German company was faced with a cut in profits due to late or missing payments. However, 14 percent did suffer cash flow problems, twice as many as in 2017 (7 percent). All over Europe, on the other hand, the existential threat has fallen slightly. Whereas in 2017, 17 percent of European companies felt their continued existence was at risk, a year later this figure stood at just 14 percent.

Payment delays put entrepreneurial livelihoods at risk
Despite the decrease, payment delays in Europe continue to jeopardize around every seventh company, with serious economic implications. “If companies have to wait a long time on outstanding payments, they can sometimes no longer service their ongoing costs like salaries for their workforce. In a worst case scenario this can result in bankruptcy, which destroys economic potential and jobs,” says Klaus Engberding, CEO of the EOS Group. This is where professional receivables management can help. Debt collection companies help companies to verify the credit standing of their customers to minimize payment delays and defaults from the very outset and also ensure that the firms receive outstanding payments sooner. In doing so, they make an important contribution to the entire economic cycle. By increasing the liquidity of the companies and improving innovation capacity they therefore safeguard jobs.

 

About the EOS survey 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted a telephone interview in spring 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey was conducted for the 11th year in succession. For more results from the survey please go to: https://de.eos-solutions.com/surveys

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.
For more information please visit: www.eos-solutions.com

European companies are on the same page in respect of payment methods: Conventional modes of payment are preferred / Only 29 percent of companies offer digital payment options

Hamburg, 9 October 2018 – Europeans have more in common than generally supposed. As well as cultural similarities and a passion for soccer, Europeans prefer conventional means of payment. So companies are meeting their customers' preferences when they continue to offer traditional payment methods. Overall, they offer on average 4.1 payment options, from the traditional to the modern. At 82 percent, bank transfer is the payment method most frequently offered by European companies. Buying on account (64 percent) plays a leading role above all in Western Europe (73 percent), but much less so in Eastern Europe (59 percent) – although it is the top method in Poland at 90 percent. Germany ranks second with 88 percent. Counter to the principle 'get the goods first then pay for them', payment in advance is possible throughout Europe at just over every second company (52 percent), making it the third most popular option. This is the most common payment method in Russia (76 percent). These are some of the findings of the representative EOS survey 'European Payment Practices' 2018. A total of 3,400 companies from 17 countries took part in the questionnaire conducted in the spring by Kantar TNS (formerly TNS Infratest).

Dominance of conventional payment methods unassailable
Considered collectively, traditional payment methods are currently predominant. At 39 percent of companies in Europe, customers can pay their bills directly using cash. A third of companies offer payment in installments, while 32 percent offer payment by credit card and 26 percent payment by debit card. Currently, only around 29 percent of firms offer payment by digital means. It is interesting that the majority of European companies do not intend to extend the choice of payment methods in the near future. Only five percent of companies offer their customers the option of using mobile payments or e-wallets. Although everyone might be talking about crypto currencies, just one percent of firms accept this as a payment option.

Conservative Germans
In Germany too, traditional methods are popular. German companies mostly offer purchase on account (88 percent) and bank transfer (96 percent) – putting them well above the European average for these methods (64 and 82 percent respectively). They prefer established payment methods: payment in advance (76 percent), direct debit (66 percent) or cash payments (52 percent) are also offered much more frequently in Germany than elsewhere. By contrast, German companies are almost at the bottom of the European rankings for credit card payments (17 percent), with only Russians behind them (15 percent). Although it's currently hard to imagine Germany without these traditional payment methods, many of the decision-makers responding to the survey did state that they were already offering their customers digital payment options (34 percent). In this context, online transfers via third party providers are the favored method at 23 percent.

Receivables management fosters customer satisfaction
One man's joy is another man's sorrow: For example, the popular purchase on account method is also associated with the greatest risk to companies of payment delay or even default. This results in a certain dilemma for companies, because they need to find a balance between payment methods that satisfy customer preferences on the one hand but increase the risk of payment delays and defaults on the other. Klaus Engberding, CEO of the EOS Group, had this to say: “The mix of payment methods is crucial to a company's success. Potential risks can be minimized through well-functioning receivables management. If this is in place, I can as a company also offer my customers popular payment options like purchase on account and therefore increase customer loyalty and sales.”

 

About the EOS survey 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted a telephone interview in spring 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey was conducted for the 11th year in succession. For more results from the survey please go to: https://de.eos-solutions.com/surveys

The EOS Group
The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information please visit: www.eos-solutions.com

Payment practices slightly improved thanks to good economic climate / Payment delays still a problem – every fifth invoice affected

Hamburg, 24 September 2018 – Europe in the mood to spend. In June, the GfK Consumer Climate for the 28 EU member states reached 23.2 points, its highest level since the beginning of the financial crisis in 2007. Europeans are getting tired of saving and are spending more on consumption. Greater liquidity also means that companies are likely to benefit from improved payment practices. These are also some of the findings of the representative EOS survey 'European Payment Practices' 2018, which was conducted this year for the 11th time in partnership with market research institute Kantar TNS (formerly TNS Infratest). Compared with the previous year, there was a slight improvement in willingness to pay of one percentage point (2017: 78 percent, 2018: 79 percent), confirming a five-year trend. Whereas in 2014, 75 percent of payments were made on time, in 2018 this had risen to 79 percent. In this context, private customers pay sooner than business customers, who are often making use of supplier credits. For the second year in a row, payment terms were cut slightly and are now sitting at 34 days on average. Despite these optimistic results, there is still a negative undertone, as 18 percent of invoices in Europe continue to be paid too late and 3 percent of all outstanding bills are not paid at all.

Denmark goes straight to the top of the table
However, there are some differences between the various European countries. In Denmark, for example, private and business customers exhibit the best payment practices by paying their bills on time (85 percent). In Germany, Switzerland and Spain the figure is 82 percent. The lowest number of payments made on time is to be found in Slovakia (73 percent), Greece (74 percent) and Romania (74 percent). The UK is also one of the countries with poor payment practices, with 75 percent of bills settled on time. “In many respects, the imminence of Brexit is causing a lot of uncertainty. The poor payment practices among the British makes clear how the current political situation is slowing down the economy,” says Klaus Engberding, CEO of the EOS Group. Denmark, which had been included in the survey for the first time, achieved top marks right away, as it is the top performing country with the best payment practices. The low rate for payment delays and defaults (15 percent) is probably closely associated with the shortest payment terms (11 days for consumers, 27 days for business customers).

Where there is light there must also be shadow: whenever payments are delayed, Danish customers allow themselves the longest period (23 days) after Slovenia (30 days) and Greece (24 days) to pay their outstanding bills. And Eastern European companies continue to be affected to a greater degree than Western European companies by the problem of delayed payments.

German companies impose short payment terms on their customers. At 18 days for private customers and 25 days for business customers, payment terms in Germany are much shorter than the Western European average (22 and 35 days respectively). At the same time, German citizens show that punctuality is a German virtue, because in both customer groups, 82 percent of all invoices are paid within the statutory payment term, while the current level of unpaid receivables is a total of two percent. However, in the event of any delays in the payment flow (16 percent), business owners have to wait 22 days on their money, which is longer than the Western European average.

Payment delays still a problem
Despite all the positive news, payment delays are still very much part of the daily routine for companies. European companies are affected by payment delays in the case of every fifth invoice. Whereas in the case of business customers the level of payment delays has remained roughly the same as the previous year, it has fallen for private customers. The respondents to the survey see the main reasons for payment delays as being cash flow problems (private customers) or payment defaults by a company's own customers (business customers). As well as purely monetary reasons, companies also think that organizational reasons such as technical problems, irregularities in invoicing procedures or human error can cause business customers to pay late.

Outlook positive overall
European companies generally have a somewhat more positive view of the future than in the previous year and remain cautiously optimistic about payment delays. Across all countries, fewer companies than in the previous year think that payment practices are likely to get worse in the future (13 percent). However, only every fourth company (24 percent) expects an actual improvement in payment practices. Only in Germany does the proportion of those expecting payment practices to get worse in future predominate (18 percent). Russia and Slovenia, on the other hand, are more optimistic. Companies there see almost no reason for things to get worse in future (5 and 3 percent respectively). Likewise in Belgium, where just 9 percent of experts are pessimistic about future payment practices.

 

About the EOS survey 'European Payment Practices' 2018
In conjunction with independent market research institute Kantar TNS (formerly TNS Infratest), EOS conducted a telephone interview in spring 2018 with 3,400 companies in 17 European countries about the payment practices in their respective locations. 200 companies with an annual turnover of more than EUR 5 million in each of the countries Denmark, Germany, UK, Spain, France, Belgium, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. The survey was conducted for the 11th year in succession. For more results from the survey please go to: https://de.eos-solutions.com/surveys

The EOS Group

The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

For more information please visit: www.eos-solutions.com