D.S. Factoring, the receivables administration specialist, has announced increased revenues totalling CZK1.4 bn (Ђ47m) in 2004, a year-on-year increase of 60 per cent. The company processed almost 35,000 transactions in this period.
“Factoring in the Czech Republic has a strong growth potential because of reducing obstacles in business” said Pavel Strasak, general manager of D.S. Factoring.
According to Mr. Strasak, suppliers can overcome long maturity periods through factoring resources. Moreover, they can check the financial standing of their claims on the Internet. Last year the company provided services mainly to the retail segment, the biggest share being groceries, electrical equipment and textiles.
“Average overdue payment by purchasers was two days last year and overdue claims did not exceed 10 per cent of the total amount of ceded receivables,” added Mr. Strasak, this is one of D.S. Factoring‘s competitive advantages.
