Every second Hungarian company is using a partner for receivables management.
Budapest – 19th February. – 8% of total business revenue comes from managing receivables, according to the European Payment Practices research of EOS Group. One of the leading receivables management companies in Europe asked 3400 company stakeholders in 17 European countries.
48% of Hungarian company representatives stated that their company is fully or partly outsourcing receivables management to professional companies or law firms. This rate does not show significant differences compared to last year, but it is higher than the European average (37%).
The revenue coming from receivables management is mostly used for expenses, which are supporting the performance of the Hungarian economy. 54% of companies use this money to pay their own invoices, 50% use it for protecting and creating jobs. A significant amount of companies (46%) is increasing their scope of activities, while 38% spend the amount for R&D activities. 24% stated that their companies are investing this revenue on the stock markets.
According to Tamás Kraszna, head of the unsecured collection department at EOS Hungary emphasized that proper and professional management of receivables might have numerous positive effects on the performance of the Hungarian economy. “The research clearly shows that this kind of revenue is mostly being used for activities that support the national economy, like creating new jobs and a new scope of activities or R&D. For EOS, it is a key priority to handle late payments in a way which does not have a negative effect on the relations between the company and its clients” – said Tamás Kraszna.
About the “European Payment Practices” study 2018 of EOS
In the spring of 2018, by the charge of EOS Group, the independent market researcher, TNS Kantar, asked about 3,400 financial experts in 17 European countries about the payment habits in their country. 200 decision-makers within the receivables management sector in Austria, Belgium, Bulgaria, Greece, the United Kingdom, France, Poland, Romania, Russia, Slovakia, Spain, Croatia, Czech Republic, Switzerland, Germany, Slovenia and Hungary responded the questions about the payments, economic trends and receivables management in the past 8 years.
About EOS Group
The EOS Group is one of the leading international providers of customized financial services. Its main focus is on receivables management, in particular the three segments fiduciary collection, receivables purchasing and business process outsourcing. With its workforce of around 7,000 and more than 55 subsidiaries, EOS offers some 20,000 customers in 26 countries around the world financial security through customized services in the B2C and B2B segments. Working in an international network of partner companies, the EOS Group has resources in more than 180 countries. The company's key target sectors are banking, insurance, utilities, telecommunications, the public sector, real estate and e-commerce.
For more information please go to: www.eos-solutions.com.
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