The oil and Gas industries and other technological advancement have brought many changes in the economy of these areas. The rapid changes in the economic situations of the UAE and Qatar states need the rapid change in the debt collection ways also. The debt collection techniques must be automated in order to get the maximum return of the debt within minimum time span. Advanced analytical approaches, segmentation techniques, work optimization policies and best communication ways can bring much better results in debt collection.
Working on high profit debtors
If a company has many debtors with unrecoverable debt then it is better to start working on the higher profit consumers or debtors. It is always a wise suggestion by most of the debt collection experts that the debtor must be chased as soon as the payment date passes without recovery. The sooner the better is the best strategy in debt collection.
As it happens in most of the other countries that debt collection agency in Dubai or companies work on NO WIN, NO FEE policy, same is the case in the Qatar territory. Once the debtor returns the amount, the debt collector’s fee is claimed and given.
Taking care of client reputation
The repute of the client should be cared by the debt collectors while recovering the bad debt from the debtors. No bad impact should be brought through recovery techniques and this is possible only if the ethical and within law measures are taken for debt recovery. Legal and ethical measures should be enforced by the debt collection agencies in UAE.
The collectors have to work in many ways in many roles. The debt collector has to play the role of negotiator, monetary advisor and a friend as well in some of the cases in order to handle the UAE debt recovery.