New Delhi [India], March 3 (ANI/SRV): With the latest reports showing a downward trend in the debt collection and recovery rate for the banks and financial institutions, lenders are continuing to face major financial losses. Along with the institutional money lenders and banks, the firms engaging in credit-based B2B transactions are also widely falling prey to the rising issue of debt recovery.
Kenstone Capital Pvt Ltd., one of the leading and most reliable financial consultants specialized in debt collection and recovery of the nation, has gradually emerged as the new one-stop solution for the debt collection issues faced by the B2B businesses and institutional financiers.
A report by Atradius reveals that around 60 per cent of the B2B purchases are made through credit, and the numbers have significantly increased over time. Another report by Nexa Collections serves as a solid insight that the odds of successfully recovering debt on the due date is 98 per cent, which gradually falls with the course of time. The successful recovery rate of B2B debts further declines to 58 per cent in 6 months, 27 per cent in a year, and finally to 14 per cent in two years.
The process of B2B debt collection is an entirely different process, in contrast to the B2C debt collection. Since the B2B debt collection activities will be having a direct impact on the cash flow and working capital of the business, the same needs to be approached with more care and caution. The businesses vouch for first-party collection where no third-party debt collecting agencies will play a part. Once the business cannot recover the due amount within the specified span of time, it is advised to approach a third-party specialist to take over the B2B debt collection process.
In this way, the businesses can completely focus their time, effort, and resources on their core activities, while the third-party agents will handle the entire B2B debt collection process for the firm. From the recovery of bad debts to engaging in the legal collection process, the third-party agents will take part in issuing a demand for payment letters, conducting the investigative work, and if needed, filing the lawsuit against the debtor on behalf of the company.
The role played by Kenstone Capital in mitigating and minimizing the risks and successfully maximizing the returns is nothing short of pivotal. Within a really short span of time, the firm has assisted hundreds of companies in collecting and recovering their B2B debts which they even considered as losses. Kenstone Capital has a highly efficient and tactical system in place to assist the clients with the technical and other financial aspects regarding the transaction. The rising number of B2B credit sales based on invoices always prevails as an unavoidable risk factor in the business. Kenstone Capital mitigates the risk by taking the responsibility of cashing the invoice upon the end of the credit term on behalf of the business as the first stage.
From the words of Nikhil Shetty, Director of Client Relations at Kenstone Capital Pvt Ltd says, “Besides assisting our clients in the collection of debts and other associated services, we aim to ensure maximum quality and professionalism to be exhibited in our operations. Apart from simply being a part of the debt collection industry, we eye to become the face of the industry by giving it a much-needed remodelling”.
All the risks associated with the collection of invoices, even if they are turned into bad debts, will be held by Kenstone Capital in the whole process. The team of collection agents will be handling the responsibility of retrieving the amount due and recovering the bad debts as the second stage of the process. If the due amount is not recovered even after the second stage, Kenstone Capital has a dedicated team of lawyers to move towards the legal collection procedures. The firm will be handling the whole legal procedure and even file a suit against the debtor in case the funds remain unpaid even at the end of the third stage.
Kenstone Capital, therefore completely relieves the businesses from the unnecessary headaches revolving around the collection of B2B debts and the more hectic procedures that follow. They offer businesses top-to-bottom assistance in these areas and guarantee the return of the maximum plausible amount even in the scenarios of extreme uncertainty. Moreover, the services of Kenstone Capital can be characterized by transparent pricing policies, which are followed by one of the lowest minimum collection balance requirement policies set by the firm. In addition to the B2B debt collection and recovery services, Kenstone Capital also provides its clients with credit repairing services too. The pandemic has severely damaged the credit cum CIBIL score of a number of firms which can be rightfully fixed and restored with expert assistance from Kenstone.
From the words of K Karunakar Shetty, Founder of Kenstone Capital Pvt Ltd., “The pandemic has been a core reason behind many B2B firms and other financial institutions facing unfair losses and making failures in repayment of dues. Our resolute team of experts from Kenstone Capital is equipped with all the expertise and technical resources to make sure that your company gets the best possible returns from the due debts. Our services will save a significant amount of time, expertise, and resources for you, which can be redirected towards a more rewarding purpose”.
Kenstone Capital, established in 2018, has achieved significant growth in a very short span of time. With the level of expertise they are providing, that too at a highly affordable market rate, the company is expected to grow further and deeper into the domestic and international markets. Kenstone Capital has a presence in 28 cities across India and is an expert at B2B debt collection.
To know more, visit: www.kenstonecapital.in
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