Mediation and Third-Party
Simple but important questions and the answers given provide you the insight you need to know about the company you employ to represent you.
Baker Ing International challenges a traditional Debt Collection Agency and distinguishes itself with the calibre of experienced person (s) assigned to work your business case.
Is it important to you that the person representing your company, mediating payment, is qualified and your reputation and brand awareness protected?
Late payments and bad debt can be resolved but what also needs to be considered is the impact of working with a Third Party and how their collaboration directly impacts your business.
Baker Ing International has no direct Insurance or Underwriter ownership ties; our brand is purely based on collections, debtors will have no illusion that your chasing of debt is only a required process prior to a claim settling their invoice.
Our philosophy is often “a Credit issue is turned into a legal issue” and so we approach each case in a thorough and tactical way; the prime objective being to return the debtor to a live and paying client.
Legal action being the last route of resolution. It is only working experience, knowledge and lessons learned that provides insight on how to gain a payment and resolve bad debt.
Escalating a non-paying client to a third-party Debt Collector can sometimes have the opposite desired effect and so we pride ourselves on the unique team behind the business.
Our Global team of Credit Manager’s would understand pivotal actions such as when to engage Legal action and not apply or recommend it as part of a standard process. The initial Third-Party Collection debt collection process is where our team excel and contributes the majority of the by Country Collection Success Rates.
As a Global Receivables Management company, there is not a standard approach we apply to each debtor and equally, every client requirement is different.
Baker Ing International provides a centralised, International AR support helping you collect monies across the Globe. Whether your requirement is ad-hoc debtor support or a close collaboration providing automated assignment of debtors in your Credit Policy, we can provide the business proposal that will meet your requirements with many added benefits.
The key attribute of a successful business relationship is communication and providing a flexible service that genuinely does reflect what a client needs and not asking a client to ‘fit’ within the confines of what the Supplier provides. Our values, processes and operation is the service based on Credit Professionals’ request to how they want a service to be delivered.
If your business has adhoc debtor requirements with an in country or International client footprint, the global span of our International Credit Manager Network will be an asset.
An example* of how we approach your debtor for a non-contentious solution and the critical steps we take prior to any conversation:
Access Credit information through multiple Bureau’s to establish a debtor’s Propensity to Pay and Working Capital position. Filing laws and lack of financials means it is essential we use multiple sources. These reports can be share with you free of charge. Should your contract permit accessing Directors’ personal information it will help us formulate an accurate cash position and increase options for recovery.
Our Credit Managers will run Media/News searches through specialist Software on your debtor company. We check for new investments/large procurements/ contract loss etc or any information that could create reluctance for timely payment. Utilising such information and tapping into information from Credit Insurance Broker networks help provide an OnDemand assessment of financial health.
Preparation is key to engaging verbally with the debtor and knowledge is indeed power. We will never send written correspondence to a debtor without first exhausting verbal attempt; it is the result of the conversation that best determines what is documented to them.
The tone of approach is often determined by our client and known circumstances, we always align with the debtor where possible and our team will know how to best steer conversation
Our Industry experienced Credit Manager’s will be aware of factors that directly affect their business, they will know their client names and other Suppliers. We will quickly learn if your debt is due to a Creditor que for example and how to ensure you become a primary Creditor ongoing to the debtor.
Having identified the genuine and proven reasons for late or non-payment; it is the tactical skill, knowledge of local law and customs of the industry of our Credit Manager’s that now resolves non-payment. We believe costly Legal action should be a very last resort and whilst yes, it is inevitable in cases, our mission is to prove it is the skill of the person assigned to mediating your case that determines if this becomes the next route of action.
“Please analyse our Success by Country results and ask us how often we publish these and how we arrive at the given statistics. We provide a client interactive service so you keep control of mediation; our team is there is obtain the best available resolution but you agree the result.”
“All payments are made to you directly from the debtor to support swift payment and allow you to easily reconcile accounts. Should our clients prefer Baker Ing International to take payments and deduct our fees before paying monies into the local country bank account, this can be done promptly and within agreed time frames.”