Collection Account Management

Collection Agency Account Management

The method we use to collect overdue accounts is proven for businesses of every type and size, both in the your domestic market and overseas. It’s based on over 60 years of specialist debt recovery experience, and on our recognition of your objective, not only to secure full payment as quickly as possible, but also to maintain a good relationship with your customer.

We utilize a wide variety of resources and databases to allow us to become more educated about the individual debtors and give us more ways of contacting principals. This thoroughness shows debtors our tenacity and reinforces the message that we won’t quit until we’ve collected your money.

RMI’s seasoned financial analysts and expert negotiators enable us to successfully recover delinquency claims ranging from several hundred thousand dollars to several million dollars. Our track record on these assignments is exceptional, with our rates always very cost-effective.

Our Collection Agency Approach

RMI is a “people-driven” organization, upholding the highest level of business ethics and values. We understand the impact of competition, and the need to assist in the retention of customers, while resolving issues. Our approach in every application is based on a business conversation that is professional, resolving and conclusive.

We treat outstanding balances as if they were our own, although we never lose sight that it is your money we are collecting. We use a variety of tactics and strategies to pursue debts, based on your request and our assessment of what is most likely to succeed. We are extremely aggressive in pursuit of the obligations, yet we recognize an aggressive communication style is not always most effective in collecting and preserving client-customer relationships. We understand that frequently we are competing with other collection agencies and creditors for the limited funds a debtor has so we pursue claims quickly, vigorously and continuously.

CLIENT-DEBTOR RELATIONSHIP

There are many claims RMI has received from our clients with specific instructions regarding our pursuit. Based on your request, we can take an approach that is more conservative or more aggressive, depending on your preference. Absent any instructions to the contrary, RMI makes every effort to leave the door open for you to maintain an ongoing business relationship with your customers.

We never forget, however, that our primary goal is to recover the outstanding debt that they owe. Whether it is first party collections, mediation of million dollar receivables, or aggressively pursuing disputed claims, we tailor our approach to best suit your needs.

Managing Collections

Our primary efforts are focused on repeated direct telephone contacts with a Senior Manager of the debtor company. This is supplemented with letter, fax and email communication, and whenever necessary or possible, direct contact in the debtor’s jurisdiction. We use a number of investigative techniques and resources to learn as much as possible about the debtor, and use this information to increase the pressure on the debtor to pay your account.

Most troubled companies do not have resources to pay everyone, so typically they pay vendors who are applying the most pressure. The cash flow of struggling companies typically deteriorates rapidly. For this reason, the creditors who apply the appropriate pressure in the most-timely manner are the ones who will get paid. Those who ignore the warning signs and hold accounts in-house too long are usually the ones who experience a bad debt write-off.

Clients can place claims on line, via fax, and by mail.

Guaranteed Performance on Commercial Debt Recovery

RMI is proud to offer a contingent rate schedule for our collection service. This contingent rate schedule means your company will receive the maximum effort at minimal expense. We remain motivated at all times to recover every dollar possible since we do not charge fees unless we are successful in our collection efforts.

We are so confident in the caliber of our work, we contractually guarantee to beat your previous agency’s performance by two full points. Should we fail to deliver the promised results, we pay you a lump-sum rebate check for the difference. Not to worry though…we typically exceed the previous agency’s figures by 5-8 points, so we do not cut many rebate checks!

Our Team of Certified Recovery Specialists

Our professionals have decades of high-level experience as entrepreneurs, financial analysts, corporate managers, deal-makers and litigators. We combine this experience to develop and execute the best negotiation and collections strategies. In the end, it comes down to the people, and you cannot find a more experienced, talented and dedicated team than ours.

Each certified recovery specialist assigned to handle your claims has been trained and certified in commercial debt recovery. He or she is well-versed in mediation tactics, dispute resolution skills, verification techniques, and utilization of the laws within the debtor’s state to leverage your position as effectively as possible.

Each commercial debt collector manages a daily queue and in that queue are hundreds of opportunities to produce a positive outcome. The phone calls are reinforced by certified collection demands using every available form of delivery possible, mail, fax, email, or website message.

Every delinquent account that does not resolve their balance will be worked by more than one collector and in many cases by three or more in an effort to find a positive resolution. Our collectors are trained to efficiently manage their routes and the situations that various customers present.

The fact that our entire commercial collection agency team is focused on one goal, to provide an elite level of service and results, makes us different from all the rest. The desire to succeed is a corporate culture at RMI, and we look forward to providing for your company the benefits of that commitment.

All debtor conversations are recorded and stored for review and training purposes. Training sessions and Saturday and evening shifts are normal scheduled events at RMI. Our recovery specialists are well compensated and are given the opportunity to exchange ideas freely throughout the day regarding particular strategies and tactics.

Inventory Ceiling for Recovery Specialists

RMI maintains each representative unit (desk) total inventory of 300-450 accounts. Unit maintenance assures every applicable account placed with RMI will be seen and worked every day. Each account is thoroughly reviewed, skipped, analyzed, and appropriately followed until all efforts are exhausted.

RMI’s Off-Site Network

RMI was established in 1989 with a mission to attract and retain the very best staff in the commercial and business debt collection industry. Our goal was to have unlimited access to staffing-nationwide-and provide a unique work environment for seasoned, veteran professionals.

Two years later, we launched our unique and original Off-Site Network, developing the necessary technologies, securities, and management tools to ensure that all of our business process outsourcing services were secure, compliant and effective.

Today, the RMI Off-Site Network, encompasses agents from coast-to-coast, border-to-border, in every geographic location in the United States. What began as a necessity to find talent has given our company a plethora of opportunities and advantages beyond our greatest expectations.

RMI’s staff is complimented by innovation and the use of leading-edge technology. By taking full advantage of telecommunications, hardware, software and internet technology, we have developed a one-of-a-kind Off-Site Network to provide superior business process outsourcing services to our clients.

Licensed & Bonded Private Investigators

RMI will not hesitate to involve a licensed and bonded private investigator to assist in the pursuit of information and to make demand on your customer based on jurisdiction and amount of the claim. This resource has proven to be an effective method, that when used properly, can instill a sense of urgency within the customer to resolve their debt as quickly as possible.

This service is part of our protocol in certain cases and is done at no additional cost to our clients. Many agencies claim to make onsite visits; however, in today’s “lawsuit happy” society the risk is far too great. Be very concerned if an agency says they will send someone out to your customer’s place of business. RMI uses only officers of the court or specified members of law enforcement to conduct an onsite visit.

Data Access, Storage & Network Compatibility

The RMI Client Portal allows our clients direct access to review accounts, place business, correspond instantaneously, add information, view statistics, develop/print reports, or conduct nearly any business function on a secure, reliable and user-friendly portal.

Our industry has evolved from the days of phone and fax to email and import/export data transfers. RMI has met the challenge of companies large and small to maintain compatibility standards allowing for the exchange of information and data easily through our multi-server based platform. For high volume clients RMI can access, with authorization of course, any company’s computer system to allow our personnel to download documentation of any debt such as invoice copies, contracts, credit applications, or proofs of delivery.

RMI has the ability to offer online access to our system so that you can review your accounts 24-hours a day. Accounts may be placed through our website or through various FTP sites utilized by many of our clients to place hundreds of claims each month. Our IT Department is happy to answer any questions regarding our systems and software packages. The security of your company’s information is protected by the most advanced commercial software security package that is constantly monitored to a zero tolerance level.

RMI offers endless flexibility in creating customized environments, while providing the security and technological resources required by the most ambitious clients. Our commercial debt collection programs are designed to be customized to any specification.

Call Monitoring

At RMI our philosophy has always been that we treat the customers we are trying to collect from with respect, while remaining firm but fair, in regard to accomplishing the task at hand. We have invested in the most modern tools available to monitor and record every customer conversation in order to protect our clients’ interests at all times. The fact is that we represent some of the largest and most respected corporations in the world. Our clients tell us that the peace of mind they have by knowing that they can listen to any conversation we have with their customer is a main reason they continue to rely on our service year after year.

RMI is confident in the fact that we conduct ourselves ethically and professionally at all times. The nature of our business is such that we sometimes have to interact with customers that are prone to engage in any tactic to delay payment, including filing frivolous lawsuits and making false accusations. These risks decrease dramatically when the customer knows that EVERY conversation is being recorded. Many of our competitors choose not to maintain records of customer conversations because of the significant time and expense involved with maintaining such a recording system. RMI has made the decision to invest in call monitoring because it is our sincere belief that collection results are maximized when this risk is eliminated.

All of our discussions with your customers are recorded and stored for our mutual protection. This enables us to provide complete transparency in our efforts, making any frivolous, baseless complaints impossible. In the event that you ever wish to listen to our discussion with one of your customers, we e-mail you the MP3 the same day. We know our work is completely ethical at all times and can prove it!

Compliance

RMI adheres to the highest ethical practices and complies with all Federal and State regulations covering commercial collection activity.

The state requirements that collection agencies must comply with vary in each state. In some only registration is required. Some states accept the filing of a letter of exemption or a certificate of compliance.

• RMI is licensed and bonded in all applicable states for Commercial and Consumer.

• All calls, both inbound and outbound, are recorded and stored indefinitely for review.

• All documentation is scanned and retained at our Corporate office, with staff having only the ability to view and provide to clients upon request.

Comprehensive Reporting

RMI provides 24/7 online access to real-time account information through our Client Access System. Upon request you will be assigned a password and be granted access through our website to view the status of your accounts while they are in collection. In addition, the RMI Client Access System allows you to access Performance Reports and Account Inventories at your convenience.

You need continuous access to the status of claims and prompt notice of new developments. That is why we provide a variety of secure on-line reports that are always available, plus provide electronic notification of developments. Reports and reporting processes can be customized for each client’s needs, including stratification based on status, timing of developments, and type of account.

Our clients absolutely love the ability to review their accounts at their convenience without having to call or email a request. A dedicated Portfolio Manager is accessible at all times to ensure that communication lines are always open and that each issue and request is addressed immediately. From 24-hour online access to your accounts to email or fax updates upon request, the way in which you monitor the accounts placed with RMI will be determined by YOU and not by us.

Comments are closed.