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Collection Stages

1. Preventive collection

It refers to the collection management that is applied to the portfolio of clients that, as a result of an analysis, are classified as having a “high risk of default”.

This type of collection is carried out by monitoring the invoice from the moment it is issued, sending payment reminders via email and text messages. Everything, in moderate quantity and with a friendly tone.

Its main objective is to generate payment habits in customers, thus minimizing delinquencies and bad debts.

2. Administrative collection

This phase of the collection procedure encompasses all the control, monitoring and collection management that exists between the issuance of the invoice, the collection of its value and the summary of the debt. It consists of:

• Management and monitoring of payments from before their due date.

• Collection and identification of payment.

• Recovery, updating and monitoring of past due loans.

• Trading contacts to recover past due credits.

• Generation of results reports.

The process includes both the current portfolio and the past due portfolio. However, in the case of blackberries, it addresses those of an early nature. In fact, in cases in which more than 21 days have passed since the payment date, a stage better known as extrajudicial collection is usually recognized. This includes calls, sending letters and renegotiations.

3. Judicial collection

It is the last option that companies have for the recovery of their invoices. It usually starts 90 days after the debt payment date is due.

Basically, it consists of a lawsuit filed by the creditor against the debtor. In this instance, it is the court that analyzes the situation and looks for payment methods. In case the debtor does not have the resources to cover the obligation, the court can order the seizure and auction of assets whose value is proportional to the debt.

To achieve this, it is important to establish an effective collection flow that allows:

• Identify flaws in the process.

• Accurately measure the impact of each of the collection actions. • Bring people, processes and management systems closer together, in order to reduce time and speed up collection.