“Although the consortiums are non-profit entities, in order to meet the payment obligations (for example, the manager’s salary, elevator maintenance, fumigation) whoever manages must collect the expenses as soon as possible,” he says. Nicolás Baccigalupo, CEO of Octopus Proptech.
“Each consortium in itself is a world, and managing it as if it were a company can generate an improvement in the lives of residents. The Administration can analyze the business model of its consortium portfolio as if it were a monthly subscription, at best like Netflix, Spotify, a gym or a university,” says Baccigalupo, adding: “Not collecting the total of the expenses is stagnating; not grow. It directly impacts the maintenance and possibilities for improvement of each consortium or neighborhood. On the other hand, if everyone complies, the benefit will be shared.”
He also points out that it is necessary to “diagram a strategy that has clear objectives, not to accumulate new debt from clients and to reduce the debt already accumulated (delinquency).
The manager recommends that for this, it is necessary to take into account some recommendations:
* Change of Collection Model: From Reactive to Proactive
The main recommendation is to move from having a reactive collection model to a proactive collection model. That is, do not wait for the debt to be generated to collect, if not anticipate. How? Implement an automatic debit system, for example.
Thus, the equation changes. The reactive becomes the user, and the proactive, the one that collects.
In a reactive model, there is a reliance on the debtor’s willingness to collect. And at most, one claims based on what has not been received, one reacts to the absence of payments.
Instead, by being proactive in debt management, one can anticipate repayment behavior. It is to think in advance how to automate the collection process.
* Payment models: adapt to the universe of users/customers
A first analysis carried out by Octopus Proptech It stands out that the majority of people do not pay expenses as they usually pay for other consumer goods.
The most common form of payment continues to be bank transfer, while other items the form of payment is made by credit or debit cards, QR or money transfer. Currently, in consortiums and neighborhoods at least 90% pay through digital means.
It is key to understand which target user you have and what their behavior is like to define which collection model to adapt, with which tools and, very importantly, which means of payment to prioritize.
As an ideal model, we could put an automatic debit model, or direct debit into account. However, it is possible that in the area of consortiums, there is a portion of users that does not accept a debit format because they want to review the expenses before paying. So, I have to look for alternatives and offer various payment options.
It is necessary to include payment options that accommodate what the user is used to in his daily life. For example, adding a payment button or a QR code that is universally accepted today.
The strategy is clear, although it also becomes essential to collect from defaulters with accumulated debt. When payments start to be delayed, it is necessary to look for new alternatives to change the situation.
“We must contemplate a format of payment plans, or installment payments. And, additionally, activate a plan so that that particular user does not accumulate debt again. It is important to note that being willing to offer all these tools and solutions implies including new costs. Including payment models implies interests that it is necessary to be willing to assume”, he concluded Nicholas Baccigalupo.
Source: Ambito
