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FinTech Belgium - MeetUp on Digitalisation of Accounting - Alessandro Drappa - Recovr - 14-03-19


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FinTech Belgium - MeetUp on Digitalisation of Accounting - Alessandro Drappa - Recovr - 14-03-19

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FinTech Belgium - MeetUp on Digitalisation of Accounting - Alessandro Drappa - Recovr - 14-03-19

  2. 2. 2 Unpaid invoices is one of the most important problem for SME’s, yet debt collection is generally done inefficiently 1% 46% 9% % B2B invoices Source: Atradius, Payment Practices in Belgium 2018. Own survey Paid late. Not paid +90 days later. Uncollectable. 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% of SMEs  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 year.
  3. 3. 3 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 time-consuming procedures. • Hard to manage multiple stakeholders and gather the information Costly, time-consuming : inefficient.
  4. 4. 4 recovr is a credit management software that centralizes the information and automatizes every step of the debt collection process 1 2 3 4 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 resources • The user can send an invoice to our call-center, on demand. • We have negotiated lower fees with external parties (lawyers,bailiffs) and a case is created in one-click and is managed on our platform. Customer intelligence 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- time. In a typical case, a company with 1M€ in revenues and 40% of late invoices : recovr helps this company saving ~30k€ in Y1.
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  7. 7. @recovrmgd @getrecovr @recovrmgd Let’s get in touch : Thank you !