Accounts Receivable Management Featured Article

India, Turkey Under Credit Collections Industry Microscope

January 11, 2013

Financial services firms, particularly those that identify, stud and analyze credit collections, have been doing business in the developed world for the better half of the 19th century. Nevertheless, as developing nations begin to build a financial infrastructure that often imitates that of the United States or former European colonists, financial service firms are putting growing countries under their microscope in order to identify new potential opportunities.

One such firm, Atradius Collections, a global credit management business, has recently placed India and Turkey among the countries it studies for its annual Global Collections Review. According to one report, “30 [percent] of all respondents had used a debt collections agency in the past 12 months. Across regions, respondents agreed that success rate was the driving factor behind choosing a debt collections agency.”

Atradius’ survey was “conducted amongst almost 6000 businesses throughout 29 countries worldwide, monitoring commercial debt collection trends and practices.”

Its global survey of countries, which now includes India and Turkey—two countries that have long been eyed by the international financial community for their impressive growth—were among those that headquartered “companies in the Asia Pacific region [that are] most likely to use direct methods of debt recovery [and are] more inclined to send a final demand letter than their counterparts from other regions.”

Companies that regularly participate in hundreds of international trade transactions also utilize forms of credit use surveys offered by Atradius to determine where strategic areas of business may occur in future quarters. Competitors similarly track this behavior and attempt to capitalize on areas of the global trade market that may seem less attractive to bigger companies. These surveys that provide data conducted from monitoring a wide array of debt collection trends and practices are valuable for businesses to maintain a competitive edge in the global marketplace.

As more developing nations begin to build their financial infrastructure, experienced financial trade and credit management firms will begin to turn their attention toward these countries in order to make strategic conclusions in their area of expertise. 

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Braden Becker

Article comments powered by Disqus

Related Accounts Receivable Management Articles

e2b teknologies Announces New Anytime Collect Customer

e2b teknologies adds fire suppression technology customer for its Accounts Receivable Management (ARM) solution. [ Read More ]
01/21/2015

Anytime Collect Automates the QuickBooks Accounts of a National Medical Collections Company

A performance analysis conducted by the Commonwealth Fund in 2014 revealed even though the U.S. had the most expensive health care system, it ranked last in comparison with 10 other nations in the delivery of healthcare. According to the fund, the U.S. needs to continue adopting health information technologies to introduce new levels of efficiencies across the board. [ Read More ]
01/14/2015

National Recovery Solutions Deploys Virtual Negotiation Technology

As of 2014, the total amount of debt consumers owe in the U.S. totaled $11.74 trillion, which was a 3.3 percent increase from the previous year. The credit card, mortgage and student loans consumers have to contend with cause a tremendous amount of pressure in their personal and financial lives. [ Read More ]
01/12/2015

NCEMSC Announces New Partnership with AMBARA

One of the interesting things about the accounts receivable management (ARM) business is just how vertically oriented it is. This is not surprising given the highly unique needs of specific industries when it comes to ARM. Hence, the desire of organizations looking to automate ARM capabilities to deal with experts in the needs of their vertical is high and reflected in industry fragmentation as a result of the need for customized solutions. [ Read More ]
01/07/2015
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!