New Orleans, La. – Coface Collections North America, Inc. (CCNA) reported impressive 2010 revenue gains for its C.A.R.E. program. C.A.R.E., Coface Accounts Receivable Express, posted a 400 percent revenue increase over 2009 results.
C.A.R.E is an online tool developed by CCNA that enables clients to obtain debt recovery assistance early in the delinquency stage. It is a cost-effective solution for clients, with fees averaging less than five percent of the amount collected.
“The company launched C.A.R.E. three years ago in response to growing client demands in a challenging economic environment,” said Mark Lackey, Director of Strategic Sales at CCNA. “The program was and continues to be a success because of its ability to generate quick results while fitting seamlessly into a client’s in-house receivables management process.”
Industry analysts identify age, or the amount of time past due, as the single largest factor for determining the collectability of an account. Simply put, the longer an overdue account is delinquent the more difficult it is to recover. The C.A.R.E. program allows clients to benefit from the influence of a third party to collect accounts before they reach the 120 day past due mark.
The Internet based program gives clients total control over their accounts. They can quickly and easily submit or remove accounts at varying program levels and check account statuses at a glance.
“C.A.R.E. works closely with debtors to facilitate payment in a manner that preserves them as customers,” said Lackey. “This provides our clients with peace of mind in knowing they can maintain customer relationships and collect outstanding debts. C.A.R.E. is a partnership with our customers that delivers tremendous value and success.”
About Coface Collections North America
Coface Collections North America, Inc. (CCNA) is a subsidiary of Coface North America, and provides commercial debt recovery services in the United States and abroad. As a comprehensive, full service receivable management agency, it offers receivable management outsourcing, commercial collections, audit collection, debt collection, export collection, and business receivable management training. The company was founded in 1994 and is headquartered in Metairie, Louisiana. Visit us at www.coface-usa.com.
Coface’s mission is to facilitate global business-to-business trade by offering its 135,000 customers solutions to fully or partly outsource trade relationship management and to finance and protect their receivables: credit insurance, factoring, business information and receivables management. Due to the worldwide local service delivered by 6,600 staff in 65 countries, over 45% of the world’s 500 largest corporate groups are already customers of Coface. Coface is a subsidiary of Natixis whose share capital (Tier 1) was 16.8 billion Euros at the end of December 2010. Visit us at www.coface.com.