“NOKAS has a high turnover, but is in an industry with low margins. Therefore, every day that the collection period can be reduced is important. Every day that the collection time is reduced has large consequences in terms of our net financial results; Intrum Justitia does a good and efficient job for us and delivers the best service in relation to price and service. 
This cooperation plays a central role in our effort to collect on outstanding claims as quickly as possible; Intrum Justitia also has a strong and respected name in the market.
We can also use Intrum for information about legislation and regulations overseas as wells as debt collection overseas. We know that we can get advice, tips and support when we need it. Intrum Justitia has valuable knowledge about local conditions.”
Niels Erik Feilberg, Finance Director at NOKAS AS.
Background
Nokas AS was founded in 1987 and is Scandinavia’s third largest security services company as well as being the second largest in the Norwegian market. Nokas delivers security solutions to more than 60 000 customers and have operations in 25 districts.
For approximately 15 years, NOKAS, previously known as Vakt Service, has worked with Intrum Justitia in connection with payment reminders, collections and claims connected with bankruptcies. NOKAS also uses Intrum Justitia for their own companies in Sweden and Denmark. The corporation has approximately 90,000 customers and issues more than 154,000 invoices a year.
Solution
The focus on credit management has meant that while the financial crisis has raged on for the past two years, NOKAS has been able to reduce collection times. At the same time, the group has very few defaults that can be written off as losses due to the close cooperation with Intrum Justitia and the focus on improving systems and procedures.
Niels Erik Feilberg views Intrum Justitia as NOKAS’ collections department and points out that Intrum Justitia has a large organization, good competence and established systems, which are not possible for NOKAS. NOKAS’ sales goals are to expand in Norway, Sweden and Denmark and more countries in the future but collecting outstanding claims as quickly as possible will continue to be the focus.
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