Debt Collection Management

A reliable debt collection is essential for every business. From the first dunning letter to the judicial dunning procedure, we will initiate everything to collect the claims against your customers worldwide.

Automatic Receivables Management and Collection

A modern approach to debt collection services and a reliable claims recovery complement e payment and risk management of Novalnet. Our receivables management service employs a personalized approach and thus obtains a high recovery rate. Except for legal dunning proceedings, the service is absolutely free of charge in DACH region (Austria, Germany and Switzerland). This service minimizes losses due to payment defaults. Outside the DACH area, a minimum commission is charged against successful collection.

Payment Reminders to End Customers

If a payment is defaulted, our system automatically sends a payment reminder by e-mail, SMS or by post. Payment reminders can be customized according to individual requirements, for example, possibility to display company logo, name, contact information etc on the invoice. Sending payment reminders has the advantage that the end customers are only charged initially for the costs of the main claim with the chargeback or return debit costs. If end-customer pays the outstanding amount within the specified period, the subscription is reactivated and, if it is a limited subscription, it is extended for the defined time period.

Recovery of Claims

If dunning procedures are not successful, the claim can be automatically transferred to a collection agency and you will receive an overview of the current status at any time.

How it Works?

The receivables management system is automatically triggered, e.g. when chargebacks or return debits are initiated. Novalnet thus relieves you from mundane time-consuming work and lets you focus on your core business.

Automatic Termination

As soon as your customer settles the outstanding debt, our system automatically ends the dunning process.

Customisation of Payment Reminders

Payment reminders via mail and e-mail can be adapted to your corporate identity. Using your company logo and many other placeholders, we can customize the design exactly to your needs.

Transparency of the individual reminder steps

Individual dunning steps can be amended at any time in our online admin portal.

Connection to external collection service providers

If the dunning process is unsuccessful, the open claim can be automatically transferred to one of our collection partners. And you are able to view the current status of all the receivables at any time.

High Success Rate

Our accounts receivable management relies on tried and tested personalized procedures resulting in higher collection rate.

Automatic payment reminder by mail

There are various reasons why buyers do not pay their open invoices or sepa direct debits getting failed (e.g. due to insufficient funds), and few of them are due to buyers failing to keep track of due dates, or temporary financial difficulties or no genuine intention to pay. Therefore; it is important for merchants to send timely reminders with tact and sensitivity.

Why is it worthwhile to send Payment Reminders by mail?

For merchants, managing open claims adds a lot of administrative work and time. Therefore Novalnet’s automatic payment reminders by e-mail, will minimize the work load and expedites the collection process.

If buyer does not pay on time or the direct debits bounces back, we automatically send a payment reminder by e-mail. However, e-mails can get lost, they end up in the spam folder or are accidentally deleted. In many cases, however, buyers simply do not trust payment reminders by e-mail because they suspect fraud due to the large number of phishing e-mails. Our postal payment reminders prevent all these cases, both nationally and internationally. We automatically generate, print and send the corresponding payment reminders on behalf of merchants.

The postal payment reminder can be adapted to your corporate identity using a very large number of placeholders including company logo or other company details. You can also use the proven standard template of Novalnet.

No reaction to the Payment Reminder?

Should the outstanding amounts are not being paid despite the payment reminders, all necessary follow up steps up are initiated which may lead upto the judicial dunning procedure. By offering this comprehensive service, we are taking a lot of work off your shoulders as a merchant, which in turn effectively reducing overheads.

Foreign debt collection

Many customers of Novalnet sell their goods and services worldwide. However, it is even more difficult and costly to collect outstanding payments from foreign debtors than within Germany. On the one hand, language barriers have to be overcome. On the other hand, there are country-specific legal regulations and practices regarding the dunning and collection procedure. In addition, cultural differences can make communication more difficult. Without debt collection services, many merchants often only have the option of accepting bad debt losses. This can cause high losses and can threaten their existence in the long run.

Novalnet also supports its customers in case of late payment from foreign debtors. For this purpose, we have partnered with global collection partners who are familiar with the legal regulations and conditions in the respective countries and speak the local language. You as a merchant can therefore limit yourself to one contact person if there are problems with unpaid invoices. In this way, you save time and money and benefit from higher chances of success in the collection process. Therefore, the risk of doing business globally is limited which in turn should encourage merchants to open up new sales markets without worrying about bad debts.