Why did we ask SIFO to do a large survey about debt collection?
There is a market for debt collection surveys and there are many versions conducted annually. Companies want to know if they have a normal rate of write offs and they want to know how others estimate the future to look like. It’s all very financial, practical and to be honest a bit boring. So what do we at OpusCapita want with another one that is conducted on our behalf?
The end customers are often forgotten in the discussion of debt collection, many companies and financial institutes turn the customers in debt into faceless numbers. And under no circumstances can paying customers be mixed with the non payers.
But non paying customers are still there. They are real people with reasons not to pay in due time. The fact is that almost half of the companies in this survey feel that their debt collection and reminder processes are complicating the relationship with those customers. Still nothing is done about it, debt collection and reminder process is kept as is.
OpusCapita wanted to take the temperature on nordic CFOs and ask them soft questions around debt collection. We were not interested in actual numbers but more about how current debt collection process impacts on customer relationship.
What happens to those customers going from paying ones to become non-payers?
Are they lost? If so - why? Due to harsh communication or/and bad timing? Other?
This survey shows how the CFOs feel? Soon we will release the full survey.
*2017 CFO Debt Collection Survey