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RMS wishes you a Merry Christmas and a prosperous New Year!
Thank you for your trust and support over the past year. All RMS employees are committed to keep providing professional accounts receivable management services to our customers.
Most exporters and traders are eager to do more business, and often, they skipped the Know Your Customer or KYC process (also known as due diligence). The absence of KYC process is estimated to cause the failure of over 20% of collection cases. Besides, company may be unintentionally involved in money laundry or fraudulent cases if the company does not check its trading partners. In this seminar, speakers will discuss how to effectively use the "Collectability Index" to reduce the failure to recover bad debts.
Joint Seminar with Cheng & Cheng Taxation Services Limited : Business Strategy in China – Debt Collection & Taxation
With the frequent trading between Hong Kong and China, local SMEs and foreign investors encounter difficulties such as debt collection and tax issues. iQor RMS HK is going to hold a joint seminar with Cheng & Cheng Taxation Services Limited on October 22, 2020.
In 2020, with the impact from the pandemic outbreak, and the uncertainties of the epidemic trend, countries are encountering an unprecedented crisis as a result of regional lockdowns and restrictive measures. The global economy is suffering a severe recession, with catering, manufacturing and retail industries bearing the brunt of the crisis. The current global pandemic has made it incredibly challenging for businesses to maintain their cash flow. The tide of bankruptcy is on the horizon. Local and overseas companies are concerned about collecting debts from China, as they are unfamiliar with Mainland laws and culture, while the epidemic has caused payment delays. In this blog, we share a recent case in which RMS successfully collected over 1.8 million Euros for two overseas clients from the same Chinese manufacturer, by leveraging our years of collection experience and RMS global network.
Global economy is suffering unprecedented impacts from the escalating international trade tensions and the coronavirus pandemic outbreak, and enterprises of all sizes have been struggling for several months under this "storm". With the pandemic situation gradually easing, countries are finding ways to resume their normal economic activities. In this unprecedented business environment, proper credit analysis and financial management to avoid bad debts and achieve profit gains is a major concern for small and medium-sized enterprises. The Consultant of iQor RMS Mr. Norris Chan is cordially invited by Hong Kong General Chamber of Commerce (HKGCC) to hold a seminar on July 17 to share on this. Seats are limited. Register Now!
iQor RMS had jointly held a webinar with Hong Kong General Chamber of Commerce on “Debt Collection in China: Collection Process, Litigation & Arbitration” on April 16, 2020. With the impact from the current Covid-19, the virtual seminar was successfully launched via Zoom.
Our parent company, iQor has achieved outstanding performance in 2019 and we will share in this blog. As a global integrated BPO, iQor’s diverse workforce has managed to provide customer engagement and technology-enabled BPO solutions.
Thank you for your continued support and confidence in RMS!
Hoping the Year of Rat brings you joy, prosperity and happiness!
Garment industry is fiercely competitive due to unpredictable consumer demand and uncertainties arising from the US China Trade War. In order to maintain a strong relationship with customers, manufacturers would allow for prolonged payment terms. This would affect company’s cash liquidity and operating funds.
The Korean electronics parts manufacturer approached iQor RMS HK in collecting a large unpaid debt from their US buyer. The buyer had placed heaps orders with our client during last year; however, due to global economy downturn, the buyer failed to collect the finished products and denied to fulfill the rest orders as well. All finished products and materials have been abandoned in client’s warehouse for over half year, which costs US$1,000,000 in total.
Photo by Jeffrey Swanson on Unsplash
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