Regardez ce qu'il y a de nouveau.

Regardez ce qu'il y a de nouveau.

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  • Euler Hermes Rating, qui compte parmi les principales agences de notation financière en Europe, a octroyé de nouveau la note de A à EOS Holding. La stabilité de son bénéfice et la solidité de sa structure capitalistique ont convaincu les analystes pour la seizième fois d’affilée. Avec cette note, le Groupe confirme sa solide expérience dans la valorisation et le rachat de portefeuilles de créances, et le recouvrement de créances douteuses. L’entreprise consolide ainsi sa position de leader sur le marché allemand et sa place de choix sur le marché européen.

    Cette note est une marque de confiance pour le Groupe. Malgré la crise du coronavirus, Euler Hermes estime que le risque de défaut du Groupe EOS est faible. Même si le chiffre d’affaires et le bénéfice de l’entreprise pourraient accuser une baisse à court et moyen termes, les analystes de l’agence de notation tablent à nouveau sur un solide bénéfice à long terme.

    Des investissements durables à grande échelle

    Au cours de ces dernières années, les activités d’investisseur financier du Groupe EOS n’ont cessé de progresser. Dans certains pays, l’entreprise est leader sur le marché de l’acquisition de créances. Au cours de l’exercice 2019/2020, EOS a investi 651,3 millions d’euros dans les créances garanties et non garanties ainsi que dans les créances immobilières.

    « Nous entendons investir massivement et durablement dans des portefeuilles de créances au cours des prochaines années, » explique Justus Hecking-Veltman, CFO du groupe EOS. « Dans ce contexte, il importe de répartir les risques sur plusieurs pays. Bien entendu, nous ne remportons pas tous les portefeuilles avec nos modèles d’évaluation. Sur certains marchés, le succès n’est pas toujours au rendez-vous depuis un certain temps. Mais nous gardons le cap fixé : c’est ce qui fait et fera de nous une entreprise stable, performante et fiable. »

    À propos du groupe EOS

    Porté par l’innovation technologique, le Groupe EOS est un acteur majeur dans le domaine des investissements financiers et un expert reconnu du recouvrement de créances. L’acquisition de portefeuilles de créances garanties et non garanties constitue le cœur de métier de l’entreprise. Fort d’une expérience de plus de 40 ans, EOS offre des services de gestion de créances pour 20 000 clients, répartis dans 26 pays dans le monde. Le Groupe opère principalement dans les secteurs bancaires, immobiliers, fournisseurs d’énergie ou de téléphonie et le commerce en ligne. EOS, qui compte un effectif de plus 7 500 salariés, est une entité du Groupe Otto.

    Pour plus d’informations sur le Groupe EOS www.eos-solutions.com

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    • Significant increase: revenue and EBT at record levels
    • Purchase of secured receivables a growth segment
    • Investment in smart data solutions and artificial intelligence

    Hamburg, Germany, 16 July 2018 – The Hamburg-based EOS Consolidated has performed exceptionally well in the financial year 2017/18. At EUR 271.5 million, its earnings before tax (EBT) were 39 percent up on the previous year. EOS also increased its revenue substantially to EUR 795 million, an increase of 19.8 percent compared with the previous year. Because EOS has changed its fiscal year end date throughout the entire Group to 28 February, 30 companies in Western and Eastern Europe contributed an additional two months of results to the overall sales performance.

    “Once again, we have held our ground in a very competitive environment,” says Klaus Engberding, CEO of the EOS Group. Price pressure had increased enormously in the receivables purchasing segment in particular, also as a result of cash-rich investors from outside the sector. “For us, the purchase of non-performing debts continues to be an essential segment. In the past year we have demonstrated this successfully yet again.” In this context EOS will be focusing even more strongly in the future on the acquisition of mortgage-backed debt packages.

    What success means for EOS

    “For me, an excellent operating result means much more than EBT and an increase in revenue: I am talking about the progress we are making with digitalization and cultural change,” says Engberding. “What is paramount for me is how we work together at EOS and develop ideas.” And in this respect EOS has come a long way. This is evident, for example, in the development and use of new technologies, with a particular emphasis on smart data and artificial intelligence. “The systematic use of relevant, pseudonymized data is a crucial tool for evaluating and processing debt packages and therefore ensures our competitiveness,” explains Engberding. By taking this approach EOS is exploiting the opportunity to invest in new asset classes as well as in debt portfolios in countries where EOS is not represented. The use of advanced analytics benefits EOS customers and their customers alike. “By adapting the recovery process individually to each late payer, we can quickly find a satisfactory solution for all parties.”

    Results in the regions

    In Germany, revenue increased by 7.2 percent over the previous year to EUR 327.5 million. This means that Germany remains the most important regional market, with 46 percent of consolidated sales.

    With a growth in sales of 46.4 percent, the Western Europe region has once again achieved an outstanding result. EOS generated total sales of EUR 240.4 million in this region. One reason for this is the satisfying business performance in France, Belgium, Spain and Switzerland.

    At EUR 183.2 million, Eastern Europe earned its highest revenue to date in the history of the EOS Consolidated and was able to outperform the already excellent level of the previous year by 39.4 percent. This growth was fueled in particular by the much higher revenue from the purchase of receivables in Croatia and Hungary.

    In the North America region revenue was lower than the previous year, because in the USA the contract to process government-issued student loans expired at the beginning of the fiscal year.

     

    The EOS Group

    The EOS Group is one of the leading international providers of customized financial services. As a specialist in the evaluation and processing of receivables EOS deploys new technologies to offer its some 20,000 customers in 26 countries financial security through smart services. The company's core business is the purchase of unsecured and secured debt portfolios. Working within an international network of partner companies, the EOS Group has a workforce of around 7,500 and more than 60 subsidiaries, so it can access resources in more than 180 countries. Its key target sectors are banking, utilities, real estate and e-commerce.

    For more information please visit: www.eos-solutions.com.

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  • Hamburg, 10 July 2018 – Outstanding performance confirmed. For the 14th time in succession, EOS Holding has once again been given an ‘A’ rating by credit rating agency Euler Hermes Rating, providing renewed confirmation that the debt collection specialist enjoys a good credit standing. The auditors emphasized the company's market leadership in Germany and its strong market position in Western and Eastern Europe. The rating was also the result of the company's longstanding experience in processing non-performing receivables and in receivables purchasing.

    “In the last financial year we have invested EUR 0.5 billion in receivables,” says Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and CFO. This shows how important this business segment continues to be for the EOS Group. “The acquisition of secured debt portfolios in particular is an attractive growth market for us,” explains Hecking-Veltman. This is also evident from the auditors' report, because this year Euler Hermes Rating specifically praised the company's ongoing expansion of expertise in real estate evaluation, development and realization. “We are now active in this business segment in eleven European countries and plan to expand into others.”

    As a result, the auditors attested that EOS represents a low financial risk due to its very stable cash flow situation and continually high and consistent earnings level.

    The EOS Group 
    The EOS Group is one of the leading international providers of customized financial services. Its main focus is on receivables management, in particular the three segments fiduciary collection, receivables purchasing and business process outsourcing. With its workforce of around 7,000 and more than 55 subsidiaries, EOS offers some 20,000 customers in 26 countries around the world financial security through customized services in the B2C and B2B segments. Working in an international network of partner companies, the EOS Group has resources in more than 180 countries. The company's key target sectors are banking, insurance, utilities, telecommunications, the public sector, real estate and e-commerce.
    For more information please go to: www.eos-solutions.com.

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  • Hamburg, 29.05.2018 - The EOS Group is planning to sell Hamburg-based Health AG and Zahnärztekasse AG, which is located in Switzerland. The companies, both of which have a strong position in the market, offer potential buyers the ideal conditions for establishing a pan-European platform in dental factoring. In addition, the innovative practice management software "Hēa" will enable the development of new markets.

    'Our two companies are operating in future markets – healthcare and technology', says Klaus Engberding, CEO of EOS. 'To tap into additional business segments and new markets in the health sector we are now seeking the most suitable future owner to actively support the companies during their next growth phases.' With a factoring volume of around EUR 1 billion, Health AG and Zahnärztekasse AG, together, generate sales in the mid double-digit million Euro range.

    Sale by auction
    Health AG and Zahnärztekasse AG will be offered for sale together. The sale will be managed by means of a structured auction procedure and potential investors will be approached as of June 2018. Interested parties can submit a non-binding offer by the beginning of September. The completion of the transaction is planned for February 2019. In the past, strategic buyers and financial investors have shown great interest in Health AG and Zahnärztekasse AG. EOS has engaged investment bank Lazard (Frankfurt branch) to ensure an efficient sale process.

    Health AG
    Health AG, consisting of EOS Health Honorarmanagement AG and EOS Health IT-Concept GmbH, is a provider of financial and IT services for the health market. With more than 2000 customers it is one of the market leaders in German dental factoring. Moreover, thanks to its recently introduced practice management software Hēa, the company is now a frontrunner in the e-health segment: Hēa digitises, networks and simplifies all processes for the web-based management of dental practices with a focus on billing. Since its establishment in 2005, the company has evolved from a factoring start-up to an independent company providing financial and technology services.

    Zahnärztekasse AG
    Zahnärztekasse AG is a financial services provider in the health sector and with 1000 customers has become the market leader in the Swiss dental factoring segment. Its customised and modular based services, combined with an efficient IT infrastructure, relieves medical practice teams of administrative tasks and secures the liquidity of its clients. Since its foundation in 1963 the company has become established as a reliable partner to Swiss dentists.

    Contact for press and media:
    fischerAppelt, relations GmbH
    Email: eos@fischerappelt.de, Tel.: +49 40 899 699 347

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  • Majority of EU companies associate new European General Data Protection Regulation (GDPR) with even more data security in the receivables management segment / Companies report extra work above all in administrative and HR areas / More than 10 percent of EU companies not familiar with GDPR

    Hamburg, 22 May 2018 – Europe’s companies generally have a positive attitude to the EU General Data Protection Regulation (GDPR), despite the extra work involved. This is because more than two thirds (69 percent) of all European companies that rate the new regulation as relevant to them will benefit from greater data security in receivables management. This applies in particular to Spanish and Danish companies (each 78 percent); in Germany, on the other hand, the figure is 71 percent. These results were the outcome of a special analysis by the EOS Group on the impact of the new regulation in Europe. The survey polled 3,000 companies in 15 European countries. The analysis is part of the EOS Survey ‘European Payment Practices' 2018 conducted by independent market research institute Kantar TNS.

    GDPR: Only just over half of EU companies considers it relevant
    ‘The special analysis shows how important data security and data protection are for European companies,’ explains Kirsten Pedd, Chief Compliance Officer and Chief General Counsel of the EOS Group in Germany. ‘Nevertheless there are still companies that are not familiar with the GDPR at all. There is a risk that the regulation is being taken lightly.’ The EOS analysis shows that 11 percent of the EU companies polled have not known about the GDPR so far. A quarter of the companies surveyed (25 percent) are familiar with the regulation but think it is not very relevant or not relevant at all to their own business. Only just over half (57 percent) of companies polled consider the new regulation to be relevant to them.

    Extra work throughout Europe - espacially in the administrative and HR areas
    The 57 percent of EU companies that recognise that the GDPR is relevant to them also report that there is extra work involved, primarily affecting administration. As well as an increase in documentation obligations, around two thirds (69 percent) of companies say that there is more bureaucracy as a result of implementing the regulation and an increase in information obligations (65 percent). More than half of the companies (55 percent) also report an increase in the need for personnel resources. A total of 26 percent of companies even state that the GDPR could jeopardise their business model.

    Receivables management: companies well prepared
    ‘Although most experts for receivables management are prepared for the extra work that may be involved, they clearly associate the GDPR with more data security and data protection,’ concludes Kirsten Pedd. ‘Thanks to this clear awareness, companies are well prepared for the implementation of the regulation.’

    The GDPR applies to all EU companies from 25 May
    The GDPR is a regulation of the European Union that affects private companies and public bodies. The regulation has been in force since 25 May 2016, but all EU countries have to implement it from 25 May 2018. The objective of the regulation is to protect personal data within the EU and ensure free movement of data within the EU single market.


    About the EOS survey ‘European Payment Practices’ 2018
    In the spring of 2018, in partnership with independent market research institute Kantar TNS (formerly TNS Infratest), EOS surveyed 3,400 companies with a minimum of 20 staff and an annual turnover of at least €5 million about prevailing local payment practices, economic developments in their countries, and issues relating to risk and receivables management. The results presented here are part of a special analysis of the survey of 3,000 companies from 15 EU countries: Germany, UK, Spain, France, Belgium, Austria, Romania, Czech Republic, Croatia, Hungary, Bulgaria, Slovakia, Slovenia, Poland and Greece.

    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.

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  • Hamburg. Nine out of ten Germans feel bad if they cannot repay their debts. What is more, they feel much more obliged to pay back debts to relatives and friends than to an online retailer, for example. Just three percent of those polled would settle their bills with online sellers first. The 'EOS Debt Survey' 2017 shows that there are great discrepancies in the way Russians and US Americans feel about debt. In a representative online survey, financial services provider EOS and social research institute forsa compared the attitudes to debt of people in Germany, Russia and the USA.

    Little sense of obligation to repay online shopping debts
    29 per cent of Germans feel the strongest obligation to pay back debt to relatives, 28 per cent to friends or colleagues, and 26 per cent to a bank. Only six per cent feel the same kind of obligation towards a bricks-and-mortar store or service provider, and as little as 3 per cent towards online shops. 39 per cent of Germans would pay debts from internet shopping last. 'Especially in the context of Christmas trading, this is an important insight for retailers that sell their products online. It is therefore recommended that they establish a personal relationship as close as possible with the buyer, to keep the number of payment defaults to a minimum,' says Klaus Engberding, CEO of the EOS Group.

    'Personal debts' are an emotional burden
    At the same time, 91 per cent of Germans feel bad if they cannot settle debts. 'For Germans, finances are a very personal matter, so they generally find debts to be a burden. From our own experience, however, we also know that they generally try very hard to find a solution, if on occasion they don't have enough money to pay back debts,' says Klaus Engberding about the results of the EOS Debt Survey 2017.

    Different countries, different attitudes to debt
    Unlike Germans, only around three-quarters of people in Russia and the USA feel bad if they cannot pay back their debts. In those countries, the sense of obligation towards creditors known personally to the debtor is also lower: For example, 60 per cent of Russians and 48 per cent of US Americans would pay back debts to a bank first. In Russia only 13 per cent of people and in the USA 18 per cent have the strongest sense of obligation to pay back debts to relatives, on the other hand.


    About the ‘EOS Debt Survey’ 2017
    On behalf of the EOS Group, independent market and social research institute forsa conducted a survey of adults in three countries from 17 August till 4 September 2017. In online interviews, 2,017 people in Germany and 1,005 each in the USA and Russia were asked about their personal attitude to debt, their handling of debt and their own financial status. The results are representative of internet users aged between 18 and 69 in the respective country. In the survey, people are referred to as having debts if they are currently paying back one or several instalment loans, leasing agreements or a mortgage. Further results of the survey are available 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.

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  • Hamburg. 55 per cent of Russians are ‘debt avoiders’, ahead of Germans (45 per cent) and US Americans (37 per cent). The ‘EOS Debt Survey’ 2017 shows how people deal with debt differently depending on the country they live in. On behalf of financial services provider EOS, social research institute forsa conducted a representative online survey in Germany, the USA and Russia. It identified five different types of debtor: The ‘careless debtor’, the ‘debt junkie’, the ‘occasional debtor’, the ‘mortgage debtor’ and the ‘debt avoider’.

    The figures: Debtor types compared by country
    Although ‘debt avoiders’ are in the relative majority in all three countries, there are distinct differences in the second-placed categories:

    Typical for Germany is the ‘mortgage debtor, who does not like to take on debt on principle but often does not regard a loan to buy property as real debt. The ‘mortgage debtor’ comes in second place in Germany at 36 per cent – a remarkable level compared with the other countries, especially as this figure has risen by as much as 10 percent points in Germany since 2015. ‘The stable economic conditions in Germany and low interest rates are allowing many Germans to realise their dream of owning a home. However, compared with US Americans, for example, we are more cautious here in Germany and reluctant to take on further debt’, explains Klaus Engberding, CEO of the EOS Group.

    ‘Careless debtors’, who service several loans at once, actually come in second place in the USA at 29 per cent, only just behind the top position – but this figure has gone up by nine per cent points since 2015. Professor Manfred Güllner, founder and Managing Director of forsa, explains the background:
    ‘Americans have a strong reliance on credit. But at the same time, due to the lack of state insurance cover in the health system and a partially fee-based education system in the USA, there is also a great necessity to take on debt’.

    In Russia, on the other hand, the second most frequent type is the ‘occasional debtor’, at 27 per cent. Accordingly, every fourth Russian finds debt to be an emotional burden, but is still prepared to take out instalment loans in emergency situations. Because of the low rate of home ownership, mortgage loans only play a subordinate role in Russia. ‘In the ‘Putin era’, the economic situation in everyday life is relatively stable, albeit at a low level for many people. Our figures therefore show little change in the last two years’, says Professor Güllner. Klaus Engberding sheds light on the significance of the results for EOS: ‘The survey makes social and cultural differences transparent. For us as a financial services provider this offers the ideal basis for a better understanding of debtors worldwide and helps us find solutions that are in the interest of all participants’.


    About the ‘EOS Debt Survey’ 2017
    On behalf of the EOS Group, independent market and social research institute forsa conducted a survey of adults in three countries from 17 August till 4 September 2017. In online interviews, 2,017 people in Germany and 1,005 each in the USA and Russia were asked about their personal attitude to debt, their handling of debt and their own financial status. The results are representative of internet users aged between 18 and 69 in the respective country. In the survey, people are referred to as having debts if they are currently paying back one or several instalment loans, leasing agreements or a mortgage. Further results of the survey are available 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.

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  • Hamburg. 78 per cent of Germans have had debts before. And seven per cent of Germans know the feeling of not being able to repay debts. The ''EOS Debt Survey" 2017 shows that Germans are becoming more reticent about taking on debt. Almost nine out of ten Germans (88 per cent) for example, say that they want to keep their debts to a minimum – that is as much as nine per cent more than in 2015. In the USA and Russia this was stated by 67 and 76 per cent of respondents respectively. "What is astonishing is that particularly in Germany, where the economic situation is very good at the moment, there is a mood of reluctance to get into debt. Periods of stable income and the current interest rate situation worldwide actually present the best conditions for making major investments and paying instalments on time,'' says Klaus Engberding, CEO of the EOS Group, by way of analysis. These facts represent the basic results of the second "EOS Debt Survey" 2017, a representative online poll that was conducted on behalf of financial services provider EOS by social research institute forsa.


    The emotional "debt account"
    Not being able to pay back debts makes people feel bad. This was the experience of nine out of ten Germans (91 per cent), but only three out of four Americans and Russians (76 per cent). This result has gone up by as much as seven per cent in Germany since the first EOS Debt Survey in 2015. Only four per cent of Germans – that is a decrease compared to two years ago – are in favour of taking on debt if they have no money. Nevertheless, only three per cent of Germans would get into debt in order to pay for vacations. For 17 per cent of Russians and Americans, however, this would not be a problem.


    Self-image versus the way others see us: "I'm conscientious, others are reckless!"
    What attitude do Germans have to their own debts – and those of others? Three out of four respondents (73 per cent) assume that nowadays a lot of people have debts. A look at the facts, however, shows that around half of Germans (51 per cent) are currently paying back debts. Anyone who has at some point had difficulties repaying debts usually gave the main reason for this as losing their job (29 per cent) or over-extending themselves financially (24 per cent, in Russia 44 per cent and in the USA 24 per cent). When asked about the general situation in society, however, nine out of ten Germans (89 per cent) believe that the reason for payment difficulties is overextending oneself financially (in Russia 54 per cent and in the USA 48 per cent). Around two thirds of Germans (63 per cent) describe themselves as only taking on debt in absolute emergencies (in Russia 75 per cent and in the USA 40 per cent). "Germans only rarely have problems paying back debt but they assume that their fellow citizens are reckless and take on debt a lot,'' comments Professor Manfred Güllner from forsa. "But one would actually do better to trust one's fellow citizens to generally do the right thing in respect of financial matters."


    Germans dream of owning their own homes – but then buy a car
    In their own estimation, Germans are most likely to take on debt to buy residential property (82 per cent). The purchase of a car or motorcycle comes in third place at 56 per cent. But in reality, 60 per cent of Germans are currently paying off loans, or have done so in the past, for a car or motorcycle – while only about every second has done so for the purchase of real estate (45 per cent). If you leave out mortgages, every third German (33 per cent) is currently paying back debts. Of these, 55 per cent are servicing just one loan, 30 per cent two loans and 14 per cent three or more loans. "The survey confirms our experience that most people generally behave responsibly as far as financial matters are concerned. We basically assume that the vast majority of consumers would like to pay their bills on time, but are sometimes simply unable to do so due to short-term or long-term problems,'' concludes Klaus Engberding, CEO of the EOS Group.


    About the “EOS Debt Survey” 2017
    On behalf of the EOS Group, independent market and social research institute forsa conducted a survey of adults in three countries from 17 August till 4 September 2017. In online interviews, 2,017 people in Germany and 1,005 each in the USA and Russia were asked about their personal attitude to debt, their handling of debt and their own financial status. The results are representative of internet users aged between 18 and 69 in the respective country. In the survey, people are referred to as having debts if they are currently paying back one or several instalment loans, leasing agreements or a mortgage. Further results of the survey are available 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.

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  • Hamburg. German companies are falling behind when it comes to digitalising their dunning processes. So far, only three per cent of companies in Germany have completely electronically upgraded their dunning and billing systems. At present, one third of companies doubt that digitalisation has a beneficial effect on payment collection. A misconception, as demonstrated by a look at the rest of Europe, where 18 per cent of companies have already completely digitalised their dunning processes – and are reaping the benefits of a better repayment rate, according to 49 per cent of respondents. These were some of the findings of the representative EOS Survey ‘European Payment Practices’ 2017, which was conducted this year for the tenth time (by Kantar TNS, formerly TNS Infratest).

    The status quo of Europe's modern receivables management
    Digital dunning means that companies set up and manage dunning processes to be customer-specific and highly automated, for example using big data analyses. Although for the most part companies continue to use software to support the dunning process, staff are often still intervening in the process themselves. In future, the role of employees will change as a result of digitalised processes. Their daily work routine will consist of control tasks and the processing of specific complex cases, instead of a series of individual activities along the entire process chain.
    In Western Europe in particular, companies have already responded to the benefits of digitalisation and have adapted their dunning processes accordingly. Every fifth company here is already exploiting the benefits of a digital dunning system. The trailblazers are Spain (58 per cent), Switzerland (53 per cent) and Hungary (53 per cent).

    German companies sceptical about digitalisation
    European companies are recognising the signs of the times and are increasingly introducing digital processes into their dunning systems. Their expectations of the benefits range from saving time (43 per cent), improved planning of resources (34 per cent), better customer-specific receivables processing (36 per cent) and more automated processes (36 per cent). With the exception of Germany, where only 33 per cent of companies believe digital processes improve outcomes. Across Europe, on the other hand, every second company is confident that a modernised dunning process further reduces payment delays.

    Klaus Engberding, CEO of the EOS Group, conjectures: ‘One of the reasons for the scepticism may be that German companies have the lowest rate of payment defaults and so do not see the need to change their collection processes’. But Engberding cautions against continuing to neglect the digitalisation of the dunning system. ‘Companies have to open their eyes to the necessity of digitalisation so they do not fall behind and give money away’.


    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.


    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.

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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.

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