The new world of receivables management:
forecasts, processes and perspectives

CRIF: high inflation and financial uncertainties

CRIF confirms these findings and emphasises that 78 percent of Germans have financial worries. Almost half of those surveyed stated that the rising cost of living is making it difficult to manage their finances. A third of respondents even expect their financial situation to deteriorate in the coming year. Many Germans have reduced their spending in non-essential areas such as streaming subscriptions and food deliveries. 33 per cent have reduced their spending on groceries, energy and car use, while 24 per cent have changed or even cancelled their holiday plans. 16 per cent of respondents are relying on new loans to get a grip on their financial situation.

atriga Managing Director Christoph Ruoff: “Leading German credit agencies agree: the financial situation of many households is tense and will remain so in the long term. Now is the time to rethink receivables management! Innovative approaches such as atrigaGenAI for receivables management make this possible.”

Dr. Frank Schlein: adjustment and savings

Dr. Frank Schlein, Managing Director of CRIF Germany, comments on the survey results as follows: “The continuing high level of inflation is affecting the financial situation and consumer behavior of Germans. Our survey results show that the population is highly sensitive to financial matters. In the coming months, Germans expect to make further adjustments to their saving and spending behavior. In addition, many also expect financial restrictions and losses in the coming year. These expectations are due to the existence of not just one, but several parallel crises. Many consumers not only want to save, but also feel compelled to make savings.”

Dr Frank Schlein, Managing Director of CRIF Germany: “Many consumers not only want to save money, but also feel compelled to make savings.”

Creditreform Boniversum: low earners particularly affected

Creditreform Boniversum also points to the increasing financial burdens. A representative survey shows that 37 per cent of Germans expect their financial situation to deteriorate over the next twelve months. Many consumers are demanding more support from their banks in order to overcome these challenges. The focus here is on customised help and digital solutions to improve financial planning and provide early warning of financial bottlenecks.

Ernst & Young: pessimism and adaptation in consumer behaviour

A study by EY shows that many consumers are pessimistic about the future. Around 90 per cent have adjusted their spending behaviour due to high inflation, and many are foregoing major purchases such as cars and furniture. Although purchasing power increased slightly in the last quarter of 2023, optimism remains subdued. EY Germany boss Henrik Ahlers comments: “For many people in Germany, crisis mode is becoming the new normal. However, there is some hope: Inflation is currently falling more sharply again. This means that consumers’ purchasing power rose again for the first time last quarter, with wages increasing more strongly than consumer prices.”

Henrik Ahlers; CEO of EY Germany: “For many people in Germany, crisis mode is becoming the new normal.”

How is the industry reacting? What can generative AI do?

The financial situation of many German households will remain tense in the long term, and the facts and figures paint a clear picture. In the following articles in this series, we will take a closer look at how the analyses affect debt collection and receivables management. And we will look at the role of generative AI in debt collection and receivables management and show how atriga is pioneering the new world of receivables management through a profound digital transformation through atrigaGenAI for receivables management.