Enterprises, today, recognize that effective and efficient Debt / Receivables Management is critical to maintain a healthy P&L and improve the cash flow, especially in a volatile financial market. Most organizations, today, seek to decrease delinquencies, reduce charge-offs and improve the Days Sales Outstanding (DSO).
Outsourcing the debt recovery work to LEXCELLENT can help our clients to get access to quality work. In Singapore, the cost of employing legal professionals is high. Apart from the high salaries, other benefits also add to the costs considerably.
There are other mandatory outgoings, such as taxes and office overheads, which make the functioning of a debt collection agency an immensely costly affair. By outsourcing their other legal cases and the entire load of back office activities to LEXCELLENT, debt collection agencies can have the time and the resources to channelize their focus on their primary task of debt collection.
The best technique that debt collection agencies can employ is strike a balance between using their in-house talent and external faculties, which allow them to customize their capabilities depending on the existing workload and demands of their clients.
It helps firms take up projects, regardless of the talent available with them to do such tasks. Small- and medium-sized debt recovery firms can find a level playing field by utilizing the services of legal process outsourcing through LEXCELLENT. It can help them stand up to competition from bigger and more reputable firms.
LEXCELLENT can effectively help you out in: