Subscribe to AfterDawn's weekly newsletter.
Atradius Collections Provides DKV With Automated Debt Collections System
AMSTERDAM, October 21 /PRNewswire/ -- - Permanent Growth of DKV Leads to Professional Risk Management - Overdue Payments Automatically Redirected to Atradius - All Debts in Europe are Insured Against Insolvency Atradius Collections, a business unit of credit insurer Atradius, provides DKV, market leader in Europe of international service cards in transports, with an international and automated debt collections system. DKV has installed an integrated order to cash solution, where all invoices more than 90 days overdue are subcontracted automatically to Atradius Collections. To manage the customer default risk DKV has insured the pan European portfolio with Atradius Credit Insurance. DKV is handling all credit management activities centrally in the office in Düsseldorf (Germany). Despite pressure on margins due too high fuel prices DKV has continued to grow. "Due to the rapid expansion the challenges DKV faces are growing. The international risk exposure of the sector is also increasing so there is a strong need for improved risk controls to enable DKV to grow in a sustainable way," says Dr Grünewald, CFO of DKV. Raymond van der Loos, Director Atradius Collections, commented: "To minimise DKV's workload in subcontracting the many debt collection activities, we installed a Ledger to Ledger solution with DKV where the invoice details are automatically sent over to Atradius Collections. When any collection update is made regarding the invoice, the status information is automatically sent back to DKV's order to cash system. This enables DKV to manage the total exposure in their system while leveraging Atradius Collections' strength in collecting overdue receivables." About Atradius Group The Atradius Group provides trade credit insurance, surety and collections services worldwide, and has a presence in 40 countries. Its products and services aim to reduce its customers' exposure to buyers who fail to pay for the products and services customers purchase. With total revenues of approximately EUR 1.8 billion and a 31% share of the global trade credit insurance market, its products contribute to the growth of companies throughout the world by protecting them from payment risks associated with selling products and services on credit. With 160 offices, it has access to credit information on 52 million companies worldwide and makes more than 22,000 trade credit limit decisions daily. About Atradius Collections Atradius Collections has over 400 staff and 16 offices worldwide, serving 12,000 clients and handling 27 million transactions per year. With revenues of EUR 48.2 million in 2007, 300 collections specialists worldwide provide customers with local expertise through one global process and IT platform. http://www.atradiuscollections.com DKV GmbH + Co.KG The DKV Euro Service has been a major player in the logistics and transport sector over 70 years. DKV offers card payment on the road for service points, toll gates, and arrange VAT refund. DKV is market leader, with an annual turnover in 2007 from EUR 4.1 billion. Based in over 40 countries with 500 employees DKV provided last year around 1.35 million service cards to more then 90,000 customers. The DKV card has been chosen four times in a row as the best tank and service card in Germany. For more information: http://www.dkv-euroservice.com AMSTERDAM, October 21 /PRNewswire/ -- http://www.atradius.com
