Deadlines for payment have been reduced to 29 days in 2019 from 31 days in 2018 for individuals. The survey notes Romanian companies offer more favorable payment deadlines compared with the Eastern Europe average and payment behaviors of Romanian consumers have improved.
When payment delays are registered, a Romanian company needs to wait 18 days on average to receive the payment, above the Eastern Europe average.
“Our main goal is to work with the debtor to find solutions to their payment problems,” said Kovacs, adding the bulk of EOS Romania’s business is represented by business to consumer receivables.
He said over 90% of cases of debt and overdue payments are solved in the early stages of the debt collection process.
“Only a fraction of debts in Romania are resolved legally and just 3% of debtors don’t pay their dues,” said Kovacs.
The survey was conducted in March-April 2019 and polled 3,400 companies in Europe in various sectors including banking and telecom.