Why DRM is required

A business without a good debt recovery system is like a bucket with big holes in it. No matter how much effort you expend filling it up your bucket is only ever partly filled. Efficient debt recovery procedures ‘plug the holes’ where earned income is slipping away and ensure that the business receives what it has rightfully earned.

Most companies do not have the internal as well as external sources and the skills to allocate their precious time to the task of recovering outstanding debts. While many companies try it within the business the levels of success are usually unsatisfactory due to lack of Debt Recovery experience.

Recovering debts can be time-consuming, expensive and inefficient if you lack the expertise and right tools. Some of the benefits would be:

  • Reduce Costs

Being the team of experienced and dedicated professionals, the cost to implement the DRM would be much lower as compared to internal assessed cost.

  • Reduce arrears

Each debt is unique so the strategy required to get the best result will vary from case to case. A good DRM has a wealth of skill and expertise on recovering the debts in a variety of circumstances and knows how to resolve debt disputes promptly.

  • Maximize productivity and revenue

More money coming through the door means real revenue, not just figures on paper. Some businesses even find they can generate more revenue for the same amount of work because their productivity is finally optimized. A larger proportion of time spent generating sales is being rewarded and maximum profits can be received for the efforts made.

  • Preserve your client relationships

By retaining a third party to correspond with your clients regarding debts you can distance yourself from the “bad role” of debt collector and avoid negative interactions with your clients. This enables businesses to maintain positive business relationships and promote better client retention.

  • Good Credit Score

Credit score is vital for any kind of funding and even for the balance sheet purpose.

Centrik DRM division have the specific and dedicated skills to take the burden away from such companies and couple to

  1. review the debtor’s ability to pay,
  2. Implement dedicated process and a dedicated recovery strategy for successful recovery,
  3. Take legal recourse

So that you concentrate and focus on increasing client-base and generating further revenue and grow your business.

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UP-RERA takes over Unnati Fortune’s deregistered Aryana Project
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Test One of the first projects to be deregistered by UP-RERA and the subsequent proceedings will decide how well RERA will...
Impact of RERA so FAR
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Test RERA, has taken cognizance of the multiple ways by which consumers have been cheated in the past, and provided for...
Critical Analysis of RERA
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Test The act was introduced to curb the mal-practices and the abuses caused to the customer. The act intends to protect...
A new tool in the hands of RERA Authorities
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Test The RERA Act empowers the Regulatory authority to call for information or conduct investigations. These investigations have been mainly in...
Brief Introduction to RERA
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Test Over the course of the last two years, RERA has come up and grown as an effective weapon for consumers...
MahaRERA Opens-up door for Revocation
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Test MahaRERA has wide order No 8/19 dated 28th March 2019 opened up door for revocation of the registration in accordance...
UPRERA adopts satellite mapping to monitor Illegal construction
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Test After MahaRERA, UPRERA also has adopted the services of a satellite to monitor the illegal construction and dubious projects being...
UPRERA gets tough: Rejects Applications of 36 Builders
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Test The Uttar Pradesh Real Estate Regulatory Authority, Greater Noida Bench had rejected the registration applications of as many as 36...
NCR is the King, when it comes to delayed realty projects
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Test RERA Act has already been functional in all cities of NCR for almost 2 years now and still, such big...
Should RERA Authorities grant refund to the every complainant?
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Test The officials of the UPRERA Authority have decided not to encourage refund if the project is not stalled and have...
RERA: Builder has the duty to make association
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Test The Builder is not mandatory but it is the sole responsibility of the builder to enable the formation of the...
MahaRERA issues notices for the recovery of money
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Test Under Section 40 (1) of the RERA Act 2016, the authority can issue recovery warrants against developer who failed to...
Developers refraining from registering with RERA
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Test It's been around 2 years of implementation of the RERA Act, various developers have failed to get their projects to...
MahaRERA rules on applicability of section-12 and 18 of RERA
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Test While dismissing the complaint the authority observed that both the Section i.e. 12 and 18 operate at two separate times...
Bihar RERA freezes bank accounts of builder
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Test Bihar RERA Authority exercising power under Section-36 of the Act which gives power to the Authority to pass interim orders...
HC issues notice to center over discrepancy in RERA
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Test The Hon’ble bench Division Bench of Justice Mahesh Grover and Justice Lalit Batra after hearing the arguments on behalf of...
Noida: UPRERA survey expects delivery of 40,000 flats
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Test The all the steps taken by the UPRERA Authority is now finally giving some lucrative results and the long wait...
New Year to bring changes in RERA
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Test Central government is looking forward to bring a (removal of dificulties) order under section 91 of Real Estate and Regulation...