D&B Australasia Signs Collection Agreement with Australian Tax Office

By Patrick Lunsford, CollectionIndustry.com

D&B Australasia announced yesterday that the company had reached an agreement with the Australian Tax Office (ATO) to collect debt on their behalf. The agreement took effect on April 7. D&B will be collecting business, or commercial, debt for the Tax Office.

According to D&B Australasia’s PR firm, this is the first time the ATO has outsourced its debt collection.

D&B Australasia’s CEO, Christine Christian, said in a press release that her company’s approach will be to work with the companies it is collecting from to find a “workable solution for debt recovery.” Ms. Christian added, “D&B regards severe financial outcomes, such as bankruptcy or insolvency, as a ‘lose/lose’ situation and therefore, a last recourse.”

The Australian Tax Office is roughly the Australian equivalent of the U.S. IRS.

D&B Australasia is a full-service collection and accounts receivables management firm based in Australia. The firm was created in 2001 when the local management team, along with private equity firm AMP Henderson, acquired a majority interest in the receivables management units of D&B in Australia and New Zealand. Currently, AMP Henderson owns 77.5% of the firm, local management 20% and the remaining 2.5% is controlled by the D&B Corporation. The company employees around 500 people in Australia and New Zealand.