Intrum Romania launches a financial education program for SMEs

Aurel Dragan 14/05/2019 | 13:41

Intrum Romania launches the Cashflow Detox program, a financial education initiative dedicated to companies that have difficulties in recovering unpaid bills and want a positive cash-flow.

According to the European Payments Report, more than 65 percent of Romanian companies face delays in paying bills, and these delays are often a hindrance to their development. Thus, Intrum helps companies so that they do not get their business to fail. The Cashflow Detox campaign also has a motivation component: Based on online sign-up, at the end of the program, 3 companies will benefit from the amicable debt recovery service free of charge.

Of the desire to develop and offer competitive products and services to partners, over 65 percent of SMEs in Romania agree with payment terms that they do not feel comfortable with. Sometimes, payment terms may even reach 120 days without a prepayment.

Intrum studies show that SMEs focus more on profit, leaving the cash flow. From the start, this is one reason why many companies end up in a financial stalemate and fail. Constant revenue in the firm is the key to a positive cash-flow, and when the company anticipates and controls the flow of payments and payments, the financial deficits are avoided. On the other hand, negative cash flow may worsen rapidly if it does not act through a set of fair and effective measures. That is why the Cashflow Detox campaign is specially designed for those companies that need a plan and help so that their debts are recovered before the financial deficit creates serious difficulties for companies.

“Over the past 12 years, we have helped hundreds of companies recover their outstanding bills and thus avoid unpleasant domestic financial situations. Cash flow is a stringent subject for all business owners, and sometimes because of this, business development is left on a secondary plan,” says Catalin Neagu, Managing Director of Intrum Romania.

In order to qualify for the Cashflow Detox program, companies must meet a number of criteria such as: the number of employees is between 1 and 250 persons, the turnover in 2018 will be between EUR 1 to 1 million and the value of the debts recorded to be between EUR 1 to 20,000. Another criterion for enrolling in the program is for companies to register up to 50 outstanding bills and up to 1000 days delayed by outstanding invoices.

“Through this campaign, we want to contribute to the financial education of companies that face unpleasant, unpaid situations. We notice a high degree of delays in payment, especially for companies offering B2B services such as transport and logistics companies, media, consultancy, but also for companies producing machines, machinery or clothing. There are ethical solutions that pre-encounter a financial crisis within a company, and we are here to make these solutions available to all who want quick cash receipts and a positive cash flow,” says Simona Mincu, Marketing Manager Intrum Romania.

Campaign entries are made online at www.intrum.ro/cashflow-detox/, until June 15, and on 21 June Intrum Romania will announce the winners. Subsequently, the three winning companies of the Cashflow Detox program will receive free of charge amicable debt collection services for their claims until they enroll in the program. The period of amicable recovery of arrears will be 45 days.

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