Table of Content
Objective and Scope
The purpose of this document is to define how to manage amounts overdue for more than 180 days.
The scope of this procedure is all customers worldwide, since this task is performed by all Service Centers' Collections teams.
1. Description
Frequency & Specificities
The identification and extraction of items older than 180 days must be done every month until around the 20th day (depending on the calendar).
The extraction is performed through BW Analysis Query "Credit Management Aged Balance", with no filters applied (all customers worldwide) and containing the following data:
- Region
- Company code
- Local customer nº
- PRS customer and name
- Credit Manager responsible
- Amount overdue > 180 days
- A "Status" tab with 3 options:
- To chase
- To start legal procedure
- To transfer to external recovery agency
- A "comments" tab (including the comments from last month's file if applicable)
Once the extraction is completed the file must be uploaded to the following folder AR : Reports for Internal controls and ARA (and inserted inside the folder "WW Old overdues >180D monthly control") and then shared with both Credit Management and Collections Team Leaders.
2. Next actions
Each Credit Management and Collections Team Leaders will afterwards share this file with the corresponding teams so that the following next actions can be taken:
- Credit Managers will analyse each amount and define the best possible action or solution (by selecting one of the three options available on the "Status" tab)
- Collectors will perform another contact to the customer(s) whenever the option "to chase" is selected