VP participated in the seminar on Receivables Collection held in Vranje
On October 22, 2021, a seminar in Vranje was held on the topic of Receivables Collection, Factoring and Access to Bank Financing, in which Vukovic and Partners Law Firm took part. Panelists who spoke on these topics were Natasa Mihajlovic, public bailiff, Marin Gligo, director of ODM Collections, Dejan Vukovic, founder and managing partner of the law firm Vukovic and partners, as well as Sandra Rodic, director of the team for access to financial resources within the USAID economic project, each an expert in their field.
At the seminar, Marin Gligo introduced the work of ODM Collections, which specializes in professional receivables management and collection, as well as the concept of “one stop shop” which provides clients a complete debt collection service in one place. He pointed out the advantages of the receivable repurchase some of which are: current cash available, saving of time and resources, and tax benefits.
On the other hand, Dejan Vukovic spoke in more detail about servicing receivables and its advantages. He pointed out the specifics of collection during the COVID-19 pandemic, as well as negative effects on the ability of companies to settle their due obligations. He also stated that the collection of receivables was additionally made more difficult by the termination of work, i.e. reduced work capacity of state and non-state bodies, primarily key bodies that participate in the collection procedure – courts and public executors.
Sandra Rodić presented factoring as an instrument for aiding company’s liquidity and the main advantages of its use.
The seminar also discussed post-COVID tendencies and challenges in terms of credit risk management, the guidelines with which the European Central Bank presented itself to banks, as well as the regulatory framework for the collection of receivables.
It was a pleasure to participate and contribute to better regulation and understanding of the receivables management process, as well as to point out the current challenges and opportunities regarding the collection of receivables during the COVID-19 pandemic with ways to overcome such challenges.