How to gain a better understanding of the credit management sector
by Michela De Marchi and Christian Faggella*
The figures from the 16th Report produced by Unirec in collaboration with Nomisma speak for themselves: the credit management sector is in good health, with 55.5 million cases handled worth €188 billion – equivalent to 8.3% of GDP – and recoveries of €22 billion, equal to 1% of GDP. Productivity rose by 15%, whilst the volume of cases increased by 40% over the five-year period: evidence that the sector has been able to expand, refine and make its management capacity increasingly efficient.
The data enable us to quantify the credit industry’s contribution to the national economy. The sector has a multiplier effect on numerous production chains: thanks to recovered debts, businesses can preserve liquidity and safeguard jobs, whilst households can regain access to credit, thereby supporting new consumption. A virtuous circle that makes the sector a generator of shared value.
However, the data in the report do not take into account geopolitical and macroeconomic developments: from the crisis in the Middle East to inflation figures, and the consequences that will follow, starting with rising energy prices.
These factors are supported by a robust system. As demonstrated by the pandemic and the conflict in Ukraine, companies in the sector have shown themselves capable of coping with fluctuating volumes, thanks to efficient and flexible production capacity.
In addition to market dynamics, the sector is also facing a series of challenges linked to regulatory and technological developments, with the need to adapt to an increasingly demanding regulatory framework in terms of compliance, data protection and cybersecurity. The rise in cyber risks, the need to manage large volumes of data securely and to adopt advanced technologies, whilst maintaining high standards of transparency, control and debtor protection, represent the challenges of the present and the near future.
