FinTech Belgium - MeetUp on Digitalisation of Accounting - Alessandro Drappa - Recovr - 14-03-19
DIGITITALISATION OF ACCOUNTING
Unpaid invoices is one of the most important problem for SME’s, yet
debt collection is generally done inefficiently
% B2B invoices
Source: Atradius, Payment Practices in Belgium 2018. Own survey
Not paid +90 days later.
17.9% need to pursue additional financing and
16.3% need to take specific measures to correct
cash flow because of overdue invoices in 2018.
Most important problem for 15%
Main reason of 1/3 of the
bankruptcies in Europe
The average cost of debt collection
is 2% of revenues lost in working
capital and 10,000€ of spending per
Several reasons explain why debt collection is that painful for SMEs
• Takes time to do a good follow-up (matching payments, sending reminder at the right time with
the right tone).
• Lack of knowledge about amicable process leads to inefficiency.
• Rarely leverage from external parties (bailiffs, lawyers, call-center) because of their costs and
• Hard to manage multiple stakeholders and gather the information
Costly, time-consuming : inefficient.
recovr is a credit management software that centralizes the
information and automatizes every step of the debt collection process
Data centralization and accessibility
We integrate data from the accounting/invoicing
software and from the bank account. It decreases
the Awareness Delay to zero and drastically
reduces the complexity to manage information
from multiple stakeholders.
Automation of the entire process
The whole debt collection process is automated on
the platform. From the first email or sms reminder to
the case created to the lawyer/ bailiff or credit insurer
in one-click. We increase the efficiency while reducing
hours spent. Our user is paid faster, with less efforts.
Easier & cheaper access to external
• The user can send an invoice to our call-center, on
• We have negotiated lower fees with external parties
(lawyers,bailiffs) and a case is created in one-click and
is managed on our platform.
Our user will take better decisions thanks to:
• External data from company database
provider(Trends Business Information) and our
internal data sharing.
• Dashboard and credit management KPI’s in real-
In a typical case, a company with 1M€ in revenues and 40% of late invoices :
recovr helps this company saving ~30k€ in Y1.