Boardwalk has recently launched a collaboration with Convecta, a professional partnership of lawyers providing all-round assistance in B2B credit management and collection, consisting of a collaboration between Dentons and SPGlegal. We met with Santi Puglisi, founder of SPGlegal Studio Legale and Managing Director of Convecta StA, to find out more about the activities carried out.
One of the first distinctive features of Convecta is its hybrid structure (made up of lawyers and credit managers), which makes it very flexible in the field of out-of-court credit collection, with activities such as telephone reminders and the sending of warning letters, with a legal sensitivity and competence that is much more oriented towards supporting the company than towards the judicial approach.
The different professionals employed in the field make it possible to manage even the most challenging positions (e.g. technical disputes over the provision of the service or complex legal issues).
Convecta fits precisely into this scenario, being able to offer a quality service tailored to the needs and individual weaknesses of a specific situation. In addition, legal action becomes very rare, as only between 5% and 10% of the cases in the entrusted portfolio result in the traditional injunction.
For Boardwalk’s clients, this type of service can be extremely useful: when a company has a balance sheet with a turnover made up of particularly fragmented credits (because, for example, it provides services to many suppliers and therefore creates significant outstanding debts), Convecta can make the difference. The product sector in this case is practically irrelevant, although Santi Puglisi specifically notes the medical sector as the most successful, at least currently.
Offering this service to the client also brings another advantage: it has very little impact from a fee point of view, since the fees are determined with a retainer fee that is basically symbolic, but it is only upon success that a success fee is applied, agreed on a case-by-case basis with the client, depending on a variety of factors.
We know from our own experience here at Boardwalk that entrepreneurs sometimes struggle to deal with credit in a timely and effective manner: sometimes not necessarily due to simple inaction, but also due to business-related decisions (such as maintaining ‘good relationships’ with their suppliers). The use of customised reminder letters and a targeted phone collection strategy agreed with the client allows Convecta to effectively manage the collection even of so-called active clients.
Another aspect to be considered is that having a lawyer intervene, in the field of credit collection, immediately imposing a judicial approach to carry out this activity, can be perceived as a very heavy action by an entrepreneur, who also expects very high costs. As we said earlier, Convecta does not adopt this approach, as Santi Puglisi has pointed out on several occasions, emphasising the benefits of extrajudicial credit collection.
For all these reasons, we are thrilled to provide this new service to our clients, who will benefit from an additional feature that Boardwalk and its new partner Convecta will be able to take care of in an integral manner, alongside the other business consultancy services we offer.