K & D Management Services Private Limited was established in the year 2006 as a debt recovery company. At present the company has a staff strength of 50 employees, who are specially trained with regards to handling debt recoveries. The Sunday Times spoke to Mr. Gamini Silva, Managing Director of K & D Management Services with regards to the services that they provide.
Mr. Gamini Silva, Managing Director of K & D Management Services |
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"We have an island wide debt recovery network in addition to a branch located in Nugegoda. We have also made plans to open a second branch in Kandy next month. Our company works very closely with five leading banks which include both local as well as international banks, for which we undertake the debt collections with regards to credit cards and loans. We have also undertaken the debt recoveries for two leading telecommunication companies as well as one of the most reputed finance companies in Sri Lanka", says Mr. Silva.
Currently K & D Management Services has undertaken the debt recoveries of 8 leading companies. Next month the company hopes to provide its services to yet another telecommunication company. K & D Management Services also has a subsidiary company called K & D Holdings Private Limited, which is an outsourced company which deals in handling sales. K & D Holdings has at present signed an agreement with Airtel in order to promote their post paid packages for individual customers.
The company's debt collections are done once a client sends a portfolio once a month, which are distributed to the collectors stationed island wide who report to the company's head office on a regular basis.
"Our debt collectors use the latest technologies with regards to debt collection, where every transaction is updated through a computerized network. We never practice any unethical methods with regards to debt recoveries, but apply marketing techniques with regards to educating people and thereby encourage them to make the required payments", further stated Mr. Silva.
K & D Management Services acts as a coordinator between the debtor and the collection company. On an average of every100 recovery cases a 50% to 60% success rate can be achieved whilst willful defaulters constitute to 10% of total debts. In the case of willful defaulters the company transfers their details to the respective banks or finance companies for them to take the necessary legal actions.
It had been Mr. Silva's lifelong dream to become an entrepreneur who would one day have his own successful business enterprise. K & D Management Services has been the result of his endeavour to make this dream a reality. The business in such a short period of time is steadily progressing whilst also providing employment opportunities to many.
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