Newsroom

What about the health of your business partners?

By Etienne van der Vaeren, TCM Belgium | Dec 01, 2020

Wishing good health to family, friends and acquaintances has taken on a deeper meaning since March. Business partners too need our best wishes.

How healthy are they? How can we support them?

The Belgian federation of the chemical and life sciences industries, essenscia, published an article in Dutch and French, which we summarize below. TCM Belgium, a partner of essenscia benefits since 2017, offers essenscia members a personalized solution to recover their unpaid bills in Belgium and in more than 100 countries in an ethical and socially responsible manner.

Sales

Whilst some companies have experienced growth in their activities since March, hundreds of thousands of businesses have seen their sales collapse in and around Belgium. As a result, many of them no longer have enough income to cover their fixed costs. The decrease in sales primarily affects businesses that are directly impacted by measures to combat Covid-19. Secondly, it risks affecting the companies which supplied the former.

Unpaid bills

For all businesses, selling is more adventurous today than in the past. On the one hand, the resources of their clients go through abrupt upheavals. On the other hand, they lack tools to monitor the recent cash flow of their customers. The financial publications of 99% of companies are limited to annual reports. Establishing lines of credit is therefore more approximate. This complicates the choice between two costly mistakes: (1) not selling to a customer who would have paid and (2) selling to a customer who ultimately will not pay.

Possible solutions?
The first task of the entrepreneur is to safeguard his own business. He must try to “master the credible to deal with the unpredictable.” What can be done to try to control a storm?
Maintain or change the course (analyse the current situation, decide where to focus your sales and production efforts, etc.);
Reduce the sails (identify possible savings that do not lead to sinking or stagnation);
Bail out water (maintain cash flow, including receivables collection).

For the last point, the collection of receivables, the golden rules are simple:
The sooner, the better;
The more amicable, the better;
The more professional the better.
In this context, the use of a debt collection company is efficient, fast and relatively inexpensive.

Do you want an in-depth analysis of your situation? TCM Belgium offers a results-oriented service, dedicated personally to the creditor and the debtor and a real-time and tailor-made interactive follow-up of their situation. Do not hesitate to contact our experts!

Contact: Sven Dereze – s.dereze@tcm.be – +32 74 52 03 – +32 498 29 29 14 – www.tcm.be


TCM Group Global Debt Collection
Etienne van der Vaeren
TCM Belgium

Recent NEWS

How cultural factor can influence business abroad
By Jefferson Frauches Viana, Way Back/TCM Brazil | Sep 30, 2021
Debt Recovery Update: A Year Like None Other – Ireland
By Jason Harte, Masson Hayes and Curran | Sep 03, 2021
How your unpaid receivables travel across countries
By Shaun Duncan, CEO TCM Group International | Jan 20, 2021
What about the health of your business partners?
By Etienne van der Vaeren, TCM Belgium | Dec 01, 2020
Debt Recovery Update A Curve Flattened?
By Jason Harte - Partner, Head of Debt Recovery, Mason Hayes & Curran/TCM Ireland | Oct 05, 2020
Impact of COVID-19 on the French economy
By Julien Proust - Chief Business Development Officer, Order To Cash/TCM France | Sep 29, 2020
UNPAID INVOICES DURING A PANDEMIC
By By Etienne van der Vaeren , CEO, TCM Belgium | Sep 21, 2020
INSOLVENCY IN POLAND – PRACTICAL TUTORIAL
By Hubert Czapiński - CEO, Debtus/TCM Poland | Sep 15, 2020
EXEQUATOR (EXEQUATUR)
By Andreea Taralunga Law Office/TCM Romania | Sep 04, 2020
How debt collection works in the UK
By Pierre Haincourt, Credit Limits International/TCM UK | Aug 24, 2020
More News