New businesses
New businesses

01
December 2015

EURO FIDES, a leading collections company now in Villeneuve d’Ascq

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The Belgian collections company has been assisting companies since 1981 and now has offices in northern France. After several years of working with its French partners from Belgium, the dynamic nature of the Lille metro area and the diversity of its industries encouraged the company to open an office here. Euro Fides provides its customers with financial solutions. The company’s French headquarters have been located in Villeneuve d’Ascq since this past October. Euro Fides is planning to further expand its presence in the Lille metro area in 2016.

 

Euro Fides Solutions en Recouvrement is investing in France and helping to stamp out overdue payments

No more customers who blame their payment situation on other vendors, no more renters who take advantage and keep putting off payment, no more cash flow issues due to bad debt.
Euro Fides is investing in France and will manage the accounting elephant in the room, OVERDUE DEBT, with diplomacy and firmness.
Working hand-in-hand with its legal department, the Euro Fides legal team uses tact and psychology to ensure successful outcomes. Need a way to remind your clients that your invoices should be paid in a timely manner? Euro Fides suggests affixing a small fluorescent flag to your mailed notifications. This will act as a subliminal, first line reminder and encourage your customers to move your payment up in the chain to avoid becoming embroiled in a collection process.
 

€9.4 million recovered since January 2015 in both individual and business collections

With 146,664 cases received and more than €9.4 million recovered since January 1, 2015, the company is trusted by many different clients and is positioning itself as a valuable ally. Individuals and professionals, doctors and other medical professionals, mail order companies, insurers or insurers or property owners, hospitals, national or international transactions. Each client receives the same high level of attention and care from the Euro Fides team.
In addition, there is no obligation to subscribe or sign a contract, payment for services depends on successful collection.

 

Sound good?

 

In the news: Minister Macron changes approach and strengthens regulations

Last November 23, Emmanuel Macron, Minister of the Economy, Industry and Digital Affairs, presented the latest measures proposed by his ministry to battle “bad payers.” Two significant changes have been made:

  • Going forward, companies must report payment terms for both customers and vendors and reports must be signed by auditors.
  • Financial sanctions are no longer be capped at €375, 0000 and can now reach up to €2 million.
  • These changes are to encourage adherence to payment deadlines.

 

Didier Zovi, President of Euro Fides Solutions en Recouvrement says,

This is the correct approach and the government also has a stake here. These steps should noticeably and globally improve the situation of outstanding, overdue payments—a scourge in France and all of Europe.

 

In addition to fines that can reach exorbitant levels, non-paying companies’ reputations will also be at risk since their names may be listed on the Ministry of the Economy’s website, like bad students showing up on the classroom blackboard.
The same rules apply to everyone.
The ministry recognizes that the government itself may show up on the list of non-payers, but the rules must also apply to the government as well. And with good reason–by 2017, public entities must settle with their suppliers within 20 days, as opposed to the current 30 days.
 

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