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The EOS Group is a holding company that operates financial services companies with locations in Europe, [3] the United States [4] and Canada. [5] Its core activity is receivables management including receivables purchasing and debt collection. The group, which has its headquarters in Hamburg, is part of the Otto Group.
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
The cash or accounts receivables are received, that is, when the advances are readily convertible to cash or receivables. When such goods or services are transferred or rendered. For example: Revenues from selling inventory are recognized at the date of sale, often the date of delivery. Revenues from rendering services are recognized when ...
The U.S. Chamber of Commerce reported that 82% of small businesses fail because of cash flow problems. That makes managing cash effectively a very important part of leading a company. However, cash...
Factors often provide their clients four key services: information on the creditworthiness of their prospective customers domestic and international, and, in nonrecourse factoring, acceptance of the credit risk for "approved" accounts; maintain the history of payments by customers (i.e., accounts receivable ledger); daily management reports on ...
Lockbox services are generally divided into wholesale and retail. Retail lockboxes are for companies with high volumes of consumer-oriented payments such as utility payments, loan payments, etc., and these remittances often include a standardized "payment coupon".
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt ...
Many merchants offer subscription services, which require payment from a customer every month. SaaS payment processors relieve the responsibility of the management of recurring payments from the merchant and maintain safe and secure the payment information, passing back to the merchant a payment "token" or unique placeholder for the card data.