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Hamburg. The Greek economy is still Europe's underachiever. As recently as this July, the International Monetary Fund (IMF) announced that it would be supporting Greece with another EUR 1.6 billion; however the situation remains precarious in respect of payment defaults. Because in many cases, Greek companies are not able to absorb the resulting hole in their budget. The result is potential insolvency. In a total of 28 per cent of the Greek companies polled, payment delays and defaults put the company's viability in jeopardy – in no other country in Europe is this correlation so strong. In Western Europe, British companies in particular are struggling with the impact of late and unrecoverable payments. As a result, almost every fourth company in the United Kingdom (24 per cent) has to fear for its very existence. These are some of the findings of the EOS survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time (by Kantar TNS, formerly TNS Infratest).

Countries in crisis – but no widespread pessimism
In Eastern Europe, Bulgarian companies are also having difficulty in absorbing payment defaults which jeopardise the survival of nearly one in four companies (24 per cent). On average, 17 per cent of Eastern European companies are at risk of bankruptcy as a result of outstanding payments by customers.

At the same time, the EOS survey shows that the crisis-ridden companies have different views of the future. In Greece, the mood in companies tends to be optimistic, as it was in 2016: 29 per cent (2016: 33 per cent) still expect the payment practices of their customers to improve in the next two years. ‘In this context it is interesting to observe the spirit of optimism in Greece. Fortified by intensive support from Europe for some considerable time, there is a positive mood in the country despite the weak economy’, says Klaus Engberding, CEO of the EOS Group.

Things look very different in the UK, where pessimistic voices are on the increase. Whereas in the previous year, only 12 per cent of the companies polled assumed that payment practices would get worse, a total of 19 per cent hold this view in 2017. ‘Brexit has hit the British economy hard. This is reflected in the weak increase in GDP in the first two quarters and the moderate growth forecast by the International Monetary Fund for 2018’, continues Engberding.

German companies the most stable
In Western Europe too, payment defaults represent a threat to the viability of many companies. Alongside British firms, French (22 per cent) and Spanish companies (21 per cent) in particular are battling against these consequences. The situation is different in Germany, where companies are better equipped to absorb outstanding payments. Because although in 17 per cent of all cases payments are made late or not at all, only two per cent of all companies see this as a threat to their existence.
‘Companies need to be able to compensate for payment defaults. Otherwise they will quickly be paralysed by their own insolvency’, explains Engberding. ‘Working with a professional receivables management provider really can pay, in the truest sense of the word. In addition, companies can focus fully on their core business and do not have to invest any resources in additional expertise.’

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online: https://www.eos-solutions.com/paymentpractices2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. With short payment terms consumers often feel that their hands are tied. But these short deadlines actually do help, because the saying ‘Never put off till tomorrow what you can do today’ also applies to paying your bills. The longer a customer has to pay the more likely they are to get into arrears. This results in late fees for the consumer and outstanding payments for the company. European companies are responding accordingly to this correlation: Compared with the previous year, customers in the B2C and B2B segments have a day less to settle their invoices on time (2017: 35 days, 2016: 36 days). Those 24 hours help achieve more consistent punctuality of payments. In the B2C segment, the punctuality rate was 80 per cent in 2017 (2016: 79 per cent), while B2B customers pay 77 per cent of invoices on time (2016: 76 per cent).  These are some of the findings of the EOS survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time (by Kantar TNS, formerly TNS Infratest).

The fine line between retaining customers and achieving good payment practices
'From 2015 to 2016, companies in Europe extended their payment terms. Immediately, a slight deterioration in on-time payments was identified. Currently, companies are revising the terms down again', says Klaus Engberding, CEO of the Hamburg-based EOS Group. 'We are talking about a very fine line here. If payment deadlines are too short customers can be scared off', he adds. 'This is why companies are proceeding with caution and are implementing only very moderate reductions of the terms granted from year to year'.

Germany benefits from the most punctual payments
In Western Europe the payment terms are shorter than in Eastern Europe. On average, Western European customers have 33 days to pay their invoices, and the late payment rate is 19 per cent. The country with the shortest payment terms is Germany, which prescribes 24 days on average. Only 17 per cent of customers do not meet this payment deadline. Other countries such as the UK allow much longer time frames of 34 days on average. But the UK also sees a higher proportion of overdue payments (22 per cent).

Eastern Europe: lots of patience means a lot of payment delays
In Eastern Europe in particular, companies offer their customers long payment terms. In this region, customers have 37 days on average to settle their invoices, while business customers have as much as 40 days. In 25 per cent of cases, however, customers pay late or do not pay at all. Last year the average payment term was still 38 days and payment delays or defaults stood at 26 per cent. Among the countries substantially cutting their payment terms this year are Romania (2017: 37 days, 2016: 39 days) and Slovakia (2017: 36 days, 2016: 38 days). The correlation between long payment terms and resulting payment delays is most evident in Greece, where customers have an average of 47 days to pay their bills. Despite this, more than a quarter of them (26 per cent) pay too late.

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online: https://de.eos-solutions.com/en/press/surveys.html#paymentpractices2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. In Europe, personal predicaments continue to be the main reason for payment delays and defaults. Most customers who fall behind with payments have a short-term cash flow problem (66 per cent) or excessive debt, or have declared themselves bankrupt (52 per cent). This is one of the findings of the EOS survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time (Kantar TNS, formerly TNS Infratest).

However, the percentage is surprisingly high in the case of what is an avoidable problem: 49 per cent of the companies polled believe that their customers pay late or don't pay at all due to sheer forgetfulness. Klaus Engberding, CEO of the EOS Group, takes a differentiated view: 'We basically assume that the majority of consumers would like to pay their bills on time, but often simply cannot due to short-term or long-term problems. If the fridge breaks down for example, or the car that you need for your daily journey to work, then these purchases take priority. Other bills then have to be paid a little later if possible, and so they get forgotten. What is worrying, on the other hand, is when customers are intentionally not paying their invoices – because that is fraud.’

Wilful intent as a reason for unpaid bills is not uncommon throughout Europe: 38 per cent of the European companies surveyed complain about wilful non-payment in the B2C segment, while in the B2B segment the figure is 34 per cent. Anyone who deliberately ignores their invoices is liable to prosecution: 'Intentional non-payment – for example when buying on account online or deliberately deferring payment instalments – meets the criteria for the crime of fraud and is not a trivial offence', explains the CEO.

Germany has lowest incidence of wilful non-payment / More common in Eastern Europe than in Western Europe
Only 10 per cent of companies in the Federal Republic complain about wilful non-payment in the B2C segment. At European level, Eastern European companies are much more likely than Western European firms to complain that consumers deliberately do not pay their bills. A total of 41 per cent regard themselves as having been fraudulently deprived of revenue (34 per cent in Western Europe). At the bottom of the rankings in this respect are Romania (50 per cent), Greece (45 per cent) and the Czech Republic (42 per cent). In Western Europe, Belgian (43 per cent), Austrian (41 per cent) and French companies (40 per cent) report the highest numbers of deliberate non-payers.

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online at: www.eos-solutions.com/debt-survey-2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. Minor cause, major effect: At 29 per cent of the European companies polled, errors of form in invoice handling are already resulting in payment delays and defaults by customers. This is one of the findings of the EOS survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time. Accordingly, an invoice issued too late is just as likely to lead to serious problems as errors such as an incorrect address or the failure to adhere to formal guidelines. ‘Companies are regularly giving away their money because they have not organised their invoicing processes efficiently', says Klaus Engberding, CEO of the Hamburg-based EOS Group.

But even a perfectly organised invoicing process may not be enough. Companies will need to call in professional receivables management services if their customers still do not pay. In this context, the companies' failings are not just isolated incidents but systemic problems. In some cases there are no standardised processes whatsoever for recovering non-performing receivables. ‘It is striking that the professionalism is actually continuing to decline', Engberding notes. The number of companies admitting to this in the survey has doubled. In 2017, eight per cent of the companies polled stated that they did not have a standardised receivables management. This is up from four per cent in 2016. ‘The work involved in processing non-performing receivables is often underestimated', says the CEO. ‘It calls for a lot of expertise and ties up personnel'. This is why working with debt collection companies is often more expedient than in-house processes. ‘The specialists handle professional receivables management so that companies can concentrate on their core business'.

Western Europe: German companies the masters of diligence
As the survey shows, Germany has the most professional organisation of receivables management. In the B2B segment, only two per cent of the companies surveyed said that they did not have any standardised processes for recovering outstanding debts. This was true of four per cent of companies in the B2C segment. French and British firms in particular are facing major challenges. In both countries, 13 per cent of companies do not have any defined organisational structures for recovering outstanding debts from consumers. In the B2B segment, there is also work to be done in the UK, where ten per cent of companies do not have any standardised receivables management.

Eastern Europe's ‘underachievers’
A lack of proper procedures for payment collection is most prevalent in Eastern Europe. In the B2C segment, companies in Greece (15 per cent), Hungary and Slovakia (each 14 per cent) in particular are battling this problem. In the B2B segment, companies in Greece, Slovakia and Russia (9 per cent each), are at the bottom of the rankings in this respect.

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online at:
( Verlinkung nachtragen: www.eos-solutions.com/paymentpractices2017/invoicingprocesses)

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce. For more information please visit: www.eos-solutions.com.

EOS Matrix Srbije kontinuirano unapređuje svoj informacioni sistem, kao i sistem upravljanja bezbednošću informacija. Kompanija je zvanično potvrdila svoj kvalitet IT bezbednosti sertifikatom ISO / IEC 27001: 2013. "Ovo je kruna našeg napornog rada u proteklim godinama", objašnjava Milan Stojanović, IT direktor EOS Matrix-a Srbije.

EOS Matrix Srbije kontinuirano unapređuje svoj informacioni sistem, kao i sistem upravljanja bezbednošću informacija. Kompanija je zvanično potvrdila svoj kvalitet IT bezbednosti sertifikatom ISO / IEC 27001: 2013. "Ovo je kruna našeg napornog rada u proteklim godinama", objašnjava Milan Stojanović, IT direktor EOS Matrix-a Srbije. 

U današnje vreme većina kompanija obrađuje informacije tako što implementira nove tehnologije. Da li je to finansijski sektor, marketing kompanija ili državna institucija neminovno je generisanje i prikupljanje određenog broja informacija od važnosti. Uvođenje pomenutih tehnologija i lakša razmena informacija uslovljavaju nastanak sistema upravljanja bezbednošću informacija (ISMS). ISMS postaje krucijalan momenat uspešnosti jedne kompanije u eri eksponencijalnog rasta broja sigurnosnih napada, gde oštećena strana snosi, kako statusne, tako i finansijske konsekvence. Informacije vezane za dnevne aktivnosti su nešto što se podrazumeva kao važno ali predstoji nam i uvođenje GDPR-a tj. regulative koja će se baviti zaštitom privatnih podataka. Uz ove nove obaveze ISMS još više dobija na značaju jer će morati da pokriva mnogo širi spektar informacija i izvora informacija.

ISMS platformu nose tri sigurnosna stuba: 

• Poverljivost – informacija mora biti na raspolaganju samo licima koji imaju eksplicitno pravo da tim informacijama raspolažu i ne sme biti otkrivena neovlašćenim licima,
• Integritet – informacija ne sme biti promenjena od strane trećih lica, kako na mestu gde se nalazi tako i u transferu do lica od poverenja,
• Dostupnost – informacija mora biti dostupna u istom momentu kada lice od poverenja želi da joj pristupi.

Sa izradom IT dokumentacije, EOS Matrix je započeo još 2009. godine. Dokumentacija je prvo izrađena za internu upotrebu i IT osoblje, ali je vremenom rasla te obuhvatila i IT politiku, procedure, specifikacije i evidencije, koji su bili plodno okruženje za željenu sertifikaciju. Menadžment je pravovremeno prepoznao potrebu za određivanjem nivoa rizika i definisanjem ciljeva, dok su stručnjaci na polju informacionih telhnologija pripremili metodologiju. Ranije definisane politike i procedure su revidirane i kao spontani nastavak uspešnog bavljenja zaštitom podataka kreiran je ISMS. 

Pored tehničkih mera, detaljne dokumentacije i redovnih provera, kompanija EOS Matris Srbija ozbiljno shvata i potrebu edukacije zaposlenih, što se ogleda u tome da je jedan od definisanih ciljeva ISMS-a upravo održavanje radionica na temu sigurnosti informacija.

Hamburg. For the financial year 2016/17, Hamburg-based EOS Consolidated is reporting an exceptionally good result: At 195.4 million euros, its EBT (earnings before tax) is well above the previous year's total. The debt collection specialist has also significantly increased its sales to 663.8 million euros.

This success is all the more remarkable given that the competitive pressures are growing: 'Due to expansionary monetary policy, numerous competitors with a lot of capital are swamping the market. Nevertheless we have held our ground very well, particularly in the receivables purchasing segment', says Klaus Engberding, Chairman of the EOS Group’s Board of Directors. EOS Consolidated has substantially increased its investment in this sector. ‘Our expertise in analysing, acquiring and processing non-performing debt portfolios is acknowledged and valued in the industry’, he continues.

However, EOS was not going to be resting on its laurels. 'Our focus is on the future. For example, we want to further increase our efficiency and therefore are putting even more emphasis than before on data-driven management of debt collection processes.' At 90 million euros, EOS Consolidated is making its largest investment ever in IT systems.

'We are not just investing in bits and bytes but also in people. To make the best possible use of the opportunities afforded by digitalisation, we need the right mindset’, says Mr Engberding. This is why the Group has initiated a comprehensive change process: 'With our Cultural Journey@EOS we are defining how we are going to be working together in the future and to what end. It is a process that will involve our entire workforce of around 7,000 people worldwide'.

Overview of key performance indicators:

2016/17
Sales revenue (MEUR): 663.8
EBITDA (MEUR): 222.6
EBT (MEUR): 195.4

2015/16
Sales revenue (MEUR): 596.1
EBITDA (MEUR): 173.8
EBT (MEUR): 181.4

With a 46 per cent share of revenue, Germany remains the company's most important regional market. Compared with the previous year, it grew by 11.1 per cent to 305.5 million euros. Developments in Western Europe were very gratifying, with sales revenue up 33.5 per cent to 164.2 million euros. One reason for this is the strong increase in investments in receivables purchases, for example in France and Belgium.

In Eastern Europe, sales revenue rose by 21.5 per cent to 131.4 million euros. This is the highest level in the region in the history of the EOS Group to date. The much higher revenue from receivables purchases in Croatia and Hungary made a significant contribution to this pleasing result. In North America, sales revenue fell to 59.5 million euros. This is attributable above all to the downturn in receivables management for government-issued student loans.

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce. For more information please visit: www.eos-solutions.com.

Hamburg. For the thirteenth time in succession, the auditors from Euler Hermes Rating have awarded EOS Holding an 'A' rating, acknowledging that the debt collection specialist enjoys a good credit standing and long-term viability. The key factors leading to this assessment were the company's excellent earning power over a number of years as well as its good debt repayment capacity and equity base.

Among the reasons for the rating the auditors cited in particular the long-standing experience of EOS in evaluating, acquiring and recovering non-performing receivables. 'Although we are currently experiencing a fiercely fought market we are consistently demonstrating that the acquisition of debt portfolios is our core area of expertise,' says Justus Hecking-Veltman, CEO and CFO of the EOS Group.

The auditors also commented on the competitive situation: ‘Due to the higher prices for unsecured receivables, we expect that there will be an ever increasing proportion of investments in mortgage-backed receivables.’ EOS has expanded this business area in recent years and is now also offering this service in several countries in Eastern and Western Europe. 'In this context we benefit from the expertise that we have been building up in Germany for a long time,' says Hecking-Veltman.

To stay competitive and maintain its technological leadership, the EOS Group is also making major investments in its IT systems. 'We are placing even more emphasis on data-driven management of collection processes.'

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce. For more information please visit: www.eos-solutions.com.

Hamburg. Even just one unpaid invoice leaves its mark on a company, let alone hundreds of thousands: For the companies involved these losses can in some cases run into the millions. Just under half of the companies surveyed reported profit setbacks (46 per cent). Other consequences they have to deal with include cash flow problems (39 per cent) and higher interest costs (34 per cent). As a result, the companies lack the money to grow. Across Europe, every fourth company (25 per cent) is therefore curbing its investments. Some companies (17 per cent) are even fighting to survive due to outstanding payments. These are the results of the representative EOS survey ‘European Payment Practices’ 2017 that is being published for the 10th time this year. A total of 3,200 companies took part in the survey conducted by Kantar TNS (formerly TNS Infratest) in the spring.

Eastern Europe: Strong brake on investment
In Eastern European countries in particular, payment delays and defaults are putting a brake on investments. In Greece, 39 per cent of firms are currently cutting back on investments, while in Hungary and Croatia, almost every third company is curbing investment. But in the Czech Republic and Poland, only 18 per cent of business owners feel compelled to do so.

Few investment cutbacks in Germany
Despite payment defaults and delays, German companies continue to bank on growth. Only seven per cent of the companies surveyed are investing less. The situation is different in the UK and Spain, where every third company is scaling back its investment volume (34 and 33 per cent respectively). Belgium has the highest percentage of companies reducing investments (28 per cent).

Klaus Engberding ‘Debt collection counteracts the investment freeze’
'The level of investment is an important indicator for the growth of a company – and therefore also for the entire economy’, explains Klaus Engberding, CEO of the Hamburg-based EOS Group. 'Numerous factors are considered in the investment decision – but above all you need the financial resources. So missing payments from customers are very painful, especially for SMEs that do not have the backing of financially strong shareholders. But there is a lot that even SMEs can do, particularly against payment defaults and delays.’ For Klaus Engberding, working with debt collection companies is an important method of countering a freeze on investment. Last year, debt collection service providers across Europe secured 8 per cent of company revenue.

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Poland, Russia and Greece answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online at: www.eos-solutions.com/debt-survey-2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. Because of payment delays on the part of its customers, a company with an annual turnover of EUR 10 million has to wait for a long time on a sum of around EUR 1.9 million, while EUR 300,000 are completely unrecoverable (19 percent of all invoices in Europe are paid late and three percent are not paid at all). Ultimately, the consequences affect not only the defaulting payers themselves, but all consumers: Every fifth European company (20 percent) reacts to these kinds of payment delays and defaults by cutting jobs and freezing recruitment. Roughly just as many (21 percent) increase their prices – and so the boomerang effect begins. This is one of the findings of the representative EOS Survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time. In spring this year, independent market research institute Kantar TNS polled 3,200 corporate decision-makers from 16 European countries.

Price increases most frequent in Eastern Europe
In Eastern Europe in particular, companies react to payment delays or defaults by raising prices. This is most common in Hungary (32 percent), followed by Croatia (30 percent). In Western Europe, British firms are the most likely to increase their prices (26 percent). Only Switzerland comes close (24 percent). In Germany, on the other hand, the response is muted: only four percent of companies react to payment delays and defaults by raising prices.

Hiring policy: Germany reacts calmly – Greece takes drastic measures
In respect of a recruitment freeze or job cuts, Greece exhibits the strongest reaction in Europe to payment delays and defaults: in 31 percent of companies polled in Greece, payment defaults impacted on hiring policies. The UK is only slightly behind (29 percent). Romania and Spain are in third place (at 27 percent each). By way of comparison: In Germany, only 6 percent of companies take steps to reduce personnel.

‘Many people are not even aware of the consequences of late or unrecoverable payments. We would like to educate people about this and about the importance of debt collection’, says Klaus Engberding, CEO of the Hamburg-based EOS Group. ‘Debt collecting often has a cliché-ridden, negative image among the public. The role it plays in the economy is generally not visible, although this is something that the consumer benefits substantially from. Because the liquidity restored to a company as a result of debt recovery helps it to avoid increasing prices or cutting back jobs.’

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with the independent market research institute Kantar TNS, EOS polled 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Poland, Slovakia, Czech Republic, Croatia, Hungary, Bulgaria, Russia, Greece and Romania answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management. Further results from the survey can be found online at: www.eos-solutions.com/debt-survey-2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. In Europe, 19 percent of customers pay their invoices late – and three percent do not pay them at all. The resulting loss of revenue can have serious consequences: no less than 17 percent of companies worry about going bankrupt. This means that debt collection services are all the more important to them: A total of 41 percent of the European companies polled work regularly with debt collection providers. Last year these debt collection professionals recovered eight percent of outstanding company revenue. This is the result of the representative EOS Survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time.

East-West comparison: Who secures more revenue?
In Eastern Europe it is mainly Romanian companies that benefit from working with debt collection providers. Every year, collaboration with receivables management specialists returns a total of 13 percent of revenue to the companies. In both Croatia (12 percent) and the Czech Republic (11 percent) debt collection providers have recovered more than ten percent of company revenue. In Western Europe, German companies in particular enjoy the benefits of working with debt collection providers, with an eight percent share of revenue being returned to companies as a result of receivables management services.

Effective use of receivables management
Most companies use the payments recovered through receivables management to settle outstanding invoices (58 percent), while 44 percent of the companies invest the money in creating new jobs and safeguarding existing jobs. This means that debt collection providers contribute to the stability of the job market. In addition, the resources recovered go into expanding business segments (37 percent), R&D (28 percent) and investing in the financial markets (25 percent).

Valuable business service
‘Outstanding payments are a risk to companies. Firms should work with debt collection specialists in good time, as it enables them to focus on their core business, while their liquidity is safeguarded by professional receivables management’, explains Klaus Engberding, CEO of the EOS Group.

About the EOS survey: ‘European Payment Practices’
In the spring of 2017, in partnership with the independent market research institute Kantar TNS, EOS polled 3,200 companies in 16 European nations about the prevailing payment practices in their respective countries. 200 companies in each of the countries Germany, UK, Spain, France, Belgium, Austria, Switzerland, Poland, Slovakia, Czech Republic, Croatia, Hungary, Bulgaria, Russia, Greece and Romania answered questions about their own payment experiences, economic developments in their countries and issues relating to risk and receivables management.

We are happy to send you details of the survey results on request. Simply email presse@eos-solutions.com. Information on the survey is also available online: www.eos-solutions.com/debt-survey-2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Hamburg. Payment practices in Europe are currently at a level of 78% of invoices paid on time. After the overall positive developments over the past ten years, this confirms that payment practices have stagnated. The percentage of invoices paid late (19%) and invoices in default (3%) has not been improving or just slightly improving in the last three years. This is the result of the 'European Payment Practices' 2017 survey conducted by the independent market research institute Kantar TNS on behalf of the EOS Group. Data was collected from 3,200 companies in 16 countries during the survey carried out this spring for the tenth time in a row. 'A payment default rate of 3% can be very worrying for companies. This may include sums in the billions that companies do not have available to cover their own costs or to invest in their future', says Klaus Engberding, CEO of the EOS Group. In Eastern Europe the average percentage of unpaid invoices was even as high as 4%. Payment practices in Greece, Russia, Romania, Bulgaria and Slovakia (74% of payments made on time) were the worst. Companies in Germany (89%) and Switzerland (82%) show the largest number of payments made on time.

Outlook for the future deteriorates
Payment practices in Europe have been continually improving over the last ten years, albeit only slightly. Looking to the future, 77% of the companies do not expect any further upswing, which means payment practices will remain the same or get worse. Eastern European companies, in particular, significantly lowered their positive expectations compared to the previous year. The mood in Russia is the most pessimistic. 30% of the companies surveyed expect that payment practices will deteriorate. 'Thanks to the increasing oil prices Russia is moving out of its recession, however structural reforms within the country are still needed to stabilise the economy', states Klaus Engberding. 'However, as of now such reforms are not in sight. The reluctance of businesspeople is understandable'. Negative expectations have also increased by 7% in the United Kingdom compared to the previous year. 'This is not a surprise given the pending Brexit process', the CEO comments. The situation in Spain is more surprising. 'Despite strong growth every fourth person asked assumes that payment practices will still deteriorate. Businesspeople do not see enough stability in the economic upswing', believes Engberding.

Ten years of 'European Payment Practices'
EOS has been conducting the 'European Payment Practices' survey since 2007. The Hamburg company analyses the European economic zone together with independent market research institutes. The focus is on customer payment practices in companies with average revenues of 28 million euro and 180 employees. After starting with four countries EOS continued to expand the survey. 16 countries participated this year. 'The collection of data is very time-consuming. We conduct 200 interviews with decision-makers in accounts receivable management in each country', explains Mark Lammers, Associate Director Kantar TNS. 'We have been collecting high-quality data with this method for ten years now. The market assessments that can be derived from this data have a high significance', Lammers continues.  

Further results from the European Payment Practices survey can be found online at: www.eos-solutions.com/paymentpractices2017

The EOS Group
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With around 7,000 employees and more than 55 subsidiaries, EOS offers some 20,000 clients in 26 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.
For more information please visit: www.eos-solutions.com.

Peta po redu konferencija „Workout & Restructuring“ održana je u Beču 31. maja i 1.juna i okupila je vodeće stručnjake za restrukturiranje i investiranje iz celog regiona, uključujući Centralnoistočnu Evropu, Jugoistočnu Evropu, Austriju i Nemačku. Jelena Jović Milentijević, generalni direktor EOS Matrix Srbije, govorila je o prodaji obezbeđenih NPL portfolija, kao i šta je to što kompanije treba da znaju da bi minimizirale rizik ukoliko žele da ulažu u date portfolije. Ona je dala kratki rezime procesa gledano iz perspektive investitora. 

Peta po redu konferencija „Workout & Restructuring“ održana je u Beču 31. maja i 1.juna i okupila je vodeće stručnjake za restrukturiranje i investiranje iz celog regiona, uključujući Centralnoistočnu Evropu, Jugoistočnu Evropu, Austriju i Nemačku.

Jelena Jović Milentijević, generalni direktor EOS Matrix Srbije, govorila je o prodaji obezbeđenih NPL portfolija, kao i šta je to što kompanije treba da znaju da bi minimizirale rizik ukoliko žele da ulažu u date portfolije. Ona je dala kratki rezime procesa gledano iz perspektive investitora. 

Poslušajte Jelenine savete:

https://www.youtube.com/watch?v=latNMqH3H3w

Povodom objavljivanja rezultata istraživanja “Evropske navike plaćanja” u organizaciji Ekonomskog instituta i kompanije EOS Matrix održan je okrugli sto. Rezultati istraživanja su generalno pokazali nedisciplinu u izmirivanju dugova, a ispitanici ukazuju nazabrinutost da se u naredne dve godine ne može očekivati promena ovakvog trenda.

Povodom objavljivanja rezultata istraživanja “Evropske navike plaćanja” u organizaciji Ekonomskog instituta i kompanije EOS Matrix održan je okrugli sto. Rezultati istraživanja su generalno pokazali nedisciplinu u izmirivanju dugova, a ispitanici ukazuju nazabrinutost da se u naredne dve godine ne  može očekivati promena ovakvog trenda.

Postoji velika razlika u navikama plaćanja između privatnih i poslovnih korisnika: privatni korisnici drže evropski prosek u izmirivanju svoijh obaveza na vreme (79 odsto), a najbolju praksu u Evropi pokazuju pri kratkim rokovima plaćanja, dok se poslovni korisnici, iako imaju skoro najduže rokove plaćanja u Evropi (46 dana), ipak nalaze na dnu tabele po procentu izmirivanja svojih računa na vreme (67 odsto). Posebno loša navika plaćanja je primetna u sektoru trgovine.

Kada klijenti propuste rok plaćanja, kompanije moraju u proseku da čekaju još 50 dana  na naplatu, što je daleko najduže u Evropi (21 dan). 

Kao najčešće posledice loših navika plaćanja ispitanici navode investicioni zastoj (22 odsto) i teškoće u likvidnosti (19 odsto).  Za razliku od evropskih kompanija koje pokazuju pozitivan trend u angažovanju spoljnih pružaoca usluga (44 odsto) i zadovoljstvo saradnjom sa istim, srpske kompanije u samo 17 odsto slučajeva angažuju eksterne partnere, što je daljeko najmanji procenat u Evropi. 

Direktor EOS Matriks Jelena Jović Milentijević istakla je da se nedovoljno poznavanje uopšte oblasti upravljanja potraživanjima od strane kompanija i njene važnosti za likvidnost kompanije provlači kao glavni uzročnik svih neplaćanja kroz celo istraživanje. Ona smatra da je krucijalno za svaku kompaniju da prati svoju finansijsku stabilnost, kao i stabilnost svojih kupaca, te da je spremna brzo da reaguje ukoliko je ta stabilnost narušena.

„Naša opšta preporuka za sve kompanije u Srbiji je da posebnu pažnju stave na unapređenje procesa upravljanja potraživanjima, da praćenje likvidnosti kupaca mora da se odvija i pre samog izdavanja fakture, da likvidnost kupaca mora da se prati i pasivnim praćenjem dok je faktura u valuti. Preporučujemo da se to radi na dnevnom nivou”, rekla je Jović Milentijević.

Naglašava da, na dan isteka valute, takođe je preporuka da, ukoliko nije došlo do plaćanja, kupac se mora kontaktirati da se utvrde razlozi neplaćanja, a kako je navela postoje dva osnovna razloga nemar samog kupca. Ona podvlači da je mnogo značajniji problem nelikvidnost kupca.

Događaj je otvorio direktor Ekonomskog instituta, Dragan Šagovnović. Praveći uvod u analizu rezultata istraživanja dr. Ivan Nikolić, direktor istraživačko-razvojnog centra Ekonomskog instituta, se prvo osvrnuo na problem nelikvidnosti, koji je po njemu u Srbiji akutan, odnosno strukturni problem. O pitanjima uticaja navika plaćanja na privredne kretanja i novčane tokove, klimi pod kojom posluju kompanije na teritoriji Srbije, uticaju ovakve prakse plaćanja na strane investicije i konkuretnosti srpskih preduzeća u spoljno-trgovinskoj razmeni sa inostranstvom govorili su i: Miroslav Miletić, potpredsednik Privredne komore Srbije; Jasna Smiljanić, direktor funkcije račuvodstva u kompaniji MTS i Miloš Panjković, direktor kompanije Perutnina Ptuj.

Prodaja potraživanja: dokumentacija i izazovi iz perspektive kupca.

Na poziv Udruženja banaka, Jelena Jović Milentijević, direktor kompanije EOS Matrix, učestvovala je na ovogodišnjem savetovanju pravnika pod nazivom „NPL i procena vrednosti u novom tržišnom i privrednom okruženju“, koja se održala od 16. do 17. marta na Paliću. Konferencija je okupila advokate i pravnike, a govorilo se o razlozima prodaje visoko rizičnih plasmana, procesu prodaje, izazovima prilikom prodaje NPL portfolija, iskustvima, ali i rešavanju pravnog okvira za banke. 

G-đa Jović Milentijević je održala prezentaciju „Prodaja potraživanja: dokumentacija i izazovi iz perspektive kupca“, gde se posebno osvrnula na sam proces prodaje potraživanja iz ugla kupca. Ona je napomenula da ključ uspešne realizacije prodaje potraživanja leži u detaljnoj i adekvatnoj pripremi za sam proces prodaje, kao i dobro organizovanoj i prezentovanoj dokumentaciji u vezi sa dugom. Za zakonske izazove i regulatorne prepreke i ograničenja, Jović Milentijević je tokom svog izlaganja 

Hamburg. ‘You know what you have to do’ – this message passed on by a husky voice on the telephone to a person in a dark parking garage launches one of the three viral spots placed online by the EOS Group. Today, the specialist for receivables management starts its viral campaign ‘The debt collectors’ way’ on Facebook and YouTube. The films address well-known preconceptions of the debt collection industry in an entertaining way and these are then refuted on the associated campaign website (www.the-debt-collectors-way.com). EOS deliberately plays with some well-known stereotypes with the aim of making the taboo topic of debt collection an objective subject of conversation.

Debt collection is an important economic service but its public perception is often very detached from reality. ‘We have produced three video spots to showcase reputable debt collection’, says Klaus Engberding, Chairman of the EOS Group’s Board of Directors. ‘Thus, we take responsibility for the professionalism of our industry.’ The unusual approach that EOS takes, is an essential element of the concept: ‘Instead of bone-dry arguments we work with charming short stories’, explains Lara Flemming, Head of Corporate Communications & Marketing of the EOS Group. ‘We very deliberately take aim right at the heart of the stereotypes and preconceptions, address and then resolve them in our films in a light-hearted, twinkle-in-the eye way.’ Making ‘what debt collection truly is’ really clear is just one of the campaign objectives. Ms Flemming: ‘The campaign should be seen as an offer of dialogue. We want to be transparent about our work, to be open and ‘talk with each other, not talk over each other’. 

The videos were produced under the direction of the Hamburg-based creative agency, La Red. The three videos in the ‘Debt collectors’ way’ campaign can be viewed on the campaign website: www.the-debt-collectors-way.com

The EOS Group 
The EOS Group is one of the leading international providers of customised financial services. Its main focus is on receivables management covering three key business segments: fiduciary collection, debt purchase and business process outsourcing. With just under 8,000 employees and more than 60 subsidiaries, EOS offers some 20,000 clients in 28 countries around the world financial security with tailored services in the B2C and B2B segments. Being connected to an international network of partner companies, the EOS Group has access to resources in more than 180 countries. Its key target sectors are banking, utilities and telecommunications, along with the public sector, real estate, mail order and e-commerce.

For more information please go to: www.eos-solutions.com.You can download high-resolution press photos and further press information here: https://eos-solutions.com/the-debt-collectors-way

Contact for press queries:
HOSCHKE & CONSORTEN
Public Relations GmbH
Christof Kaplanek
Tel.: +49 40 36 90 50-38
Email: c.kaplanek@hoschke.de

Phil Stephan
Tel.: +49 40 36 90 50-53
Email: p.stephan@hoschke.de

Šta je to monitoring faktura? Kada nastaje proces naplate potraživanja i koje su njegove osnovne faze? Šta je to “soft”, a šta “hard collection”?

U okviru CSR programa koje ove godine ima za cilj edukaciju preduzetnika u oblasti upravljanja potraživanjima, EOS Matrix Srbije je ušao u strateško partnerstvo sa Privrednom komorom Srbije sa željom da njenim članovima održi niz besplatnih radionica. Evropska mreža preduzetništva, Privredna komora Srbije, Regionalna privredna komora Novi Sad i kompanija EOS Matrix su organizovali prvu, od niza zajedničkih radionica koje su planirane za ovu godinu. Radionica je održana u Regionalnoj privrednoj komori Novi Sad, a događaju su prisustvali predstavnici novosadskog dela grupe “Excellence SME” Privredne komore Srbije.

Šta je to monitoring faktura? Kada nastaje proces naplate potraživanja i koje su njegove osnovne faze? Šta je to “soft”, a šta “hard collection”? Kako teče postupak naplate potraživanja sudskim putem i koje su to situacije kada ne preostaje ništa drugo osim prodaje potraživanja? O ovim i sličnim pitanjima govorile su Jelena Jović, Operativni direktor EOS Matrixa i Jovana Popović, Direktor pravne službe, na radionici pod nazivom “Naplata potraživanja u B2B sektoru”. 

Učesnike sledeće radionice će ugostiti Privredna komora Srbije, u njenim prostorijama u Beogradu, a za 2017. godinu planirano je još 12 radionica koje će biti održane u najvećim gradovima Srbije.