Hamburg, October 19, 2022

  • EOS survey shows that the number of companies that have fully digitalized their dunning processes has increased by a mere four percent
  • Majority of companies only partly digitalized
Due to the pandemic, one in three companies in Europe is experiencing an increase in receivables management workload. At the same time, the proportion of companies that have fully digitalized their dunning processes has only gone up slightly since 2019. Just one out of five European companies has completely digitalized their receivables management. These were some of the findings from the meanwhile 13th representative EOS Survey “European Payment Practices”, which polled 3,200 companies in 16 European countries.

Digitalization improves repayment rate

Whereas in 2019, 16 percent of invoices were paid late or not paid at all by private customers, this figure had gone up to 20 percent by 2022. Although more and more companies were relying on digitized dunning processes during the pandemic to deal with the increased workload, there were still far too few overall. According to the survey, just 21 percent of companies in Europe have a fully digitalized dunning process and 36 percent are only partly digitalized. This is despite the fact that digital processes already help achieve a lower error rate and provide companies with the basis for approaching their customers individually and at the right time, explains Michaela Homann, Head of Customer Communications at EOS in Germany. “In our experience, defaulting consumers want to make payments quickly, using digital means and without a lot of effort,” says Homann. “Linking technology with the perspective of the defaulting consumers improves repayment rates. This means that in the majority of email inquiries we can already identify the issues of concern in a fully automated process, making it easier for our experts to respond to complex queries,” Homann continues.

“There’s still a lot to be done”

In the light of the economic forecasts in the euro zone and worsening payment practices, Justus Hecking-Veltman, Member of the EOS Group’s Board of Directors and CFO, recommends that companies continue to push the digitalization process: “Companies need to stay the course and further digitalize their receivables management to reduce payment defaults.” One obstacle to introducing digital processes might be the initially high financial outlay, says the EOS financial expert. In this context, the outsourcing of specific processes can make sense. “In fiscal 2021/22 alone, EOS invested around EUR 20 million in the upgrading of its core debt collection systems and in innovative technologies. This allowed us to further improve the service we offer to companies and defaulting consumers.”

About the EOS Survey “European Payment Practices” 

In partnership with independent market research institute Kantar, EOS conducted phone interviews with 3,200 companies in 16 European countries between March 4 and April 19, 2022, to ask them about the prevailing payment practices in their respective locations. In the spring of 2022, 200 companies (each with an annual turnover of more than EUR 5 million) in each of the countries Belgium, Bulgaria, the Czech Republic, Croatia, Denmark, France, Germany, Greece, Hungary, Poland, Romania, Slovakia, Slovenia, Spain, Switzerland, and the UK answered questions about their own payment experiences and current issues relating to risk and receivables management. This is the 13th time that EOS has conducted the survey. Find out more on our study website.

About EOS Group

The EOS Group is a leading technology-driven investor in receivables portfolios and an expert in the processing of outstanding receivables. With over 45 years of experience, EOS offers some 20,000 customers in 25 countries around the world smart services for all their receivables management needs. Its key target sectors are banking, real estate, telecommunications, utilities and e-commerce. EOS employs more than 6,000 people and is part of Otto Group.

For more information on EOS Group, please go to:

Contact for press and media
Sarah El Jobeili, Corporate Communications & Marketing EOS Group
Tel: +49 40 2850 1222