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Best Practices

The business of accounts receivable management is dynamic and rigorously demanding. To achieve its Vision of being the most effective debt collection service provider in the United States, MRG is constantly innovating methodologies, improving processes and upgrading technology.

 

All services are predicated on a commitment to maximizing the yield ("Netback") on each client portfolio. We achieve optimal results by having dedicated collection client services and customer service staff, consistently motivated and constantly advancing their skills with MRG training and development programs. Our objective is to continuously improve our efficiency, accuracy, and quality of customer care.

 

Best practices information management, legal strategies and expense control ensure our clients maximize their ROI on all risk management disciplines. Our staff is highly incentivized to perform while concurrently maintaining the highest level of ethical conduct, representing MRG corporate values. Most importantly, we have a company culture that makes MRG the easiest company in the industry to do business with.

 

Human Resource Management

MRG seeks to hire and retain highly qualified and motivated employees. Our recruiting program spans the country. Most new employees have significant prior experience in the accounts receivable management business. MRG conducts a thorough background check on each employee.

 

Being the "collection employer of choice" and offering a generous employee referral program helps us to build a committed, loyal staff. Ongoing training reinforces the high standard of ethical values that MRG considers to be the foundation of the company's business culture. Each employee is encouraged to feel part of an extended family. MRG - and our clients - benefit from an exceptionally high employee retention rate.

 

Training and Development

MRG maintains two training facilities and can conduct new hire and/or ongoing training for over eighty representatives simultaneously. In addition to systems training, MRG focuses on the following:

Technology Management
MRG utilizes leading-edge technology and data management processes to validate and improve account information, determine which accounts are most likely to offer the highest return and automatically connect collectors with the most promising accounts. Multi-attribute account scrubbing ensures that data are accurate and actionable. We employ sophisticated data mining techniques, using internal and external databases, to create a unique profile for each customer, including:

MRG acquires substantial data about each client's portfolios that are potentially valuable to that credit grantor. We routinely provide information back to credit grantors that helps them improve their acquisition strategies and credit and risk policies.

 

State-of-the-Art Technology
MRG uses a leading-edge integrated enterprise collections solution which offers multiple modules designed specifically to meet the full spectrum of collection agency requirements. The system's collection functions offer management greater flexibility and control – properly managing accounts, identifying trends before they become problems and ensuring that all accounts are worked comprehensively. This platform also provides MRG with database management, advanced metrics, tracking analysis and cost control.

 

The flexibility of the collections solutions allow MRG to prioritize and create an efficient business workflow. It maximizes the volume of collectible accounts that can be delivered automatically to account representatives, allowing them first to work accounts with the best probability of obtaining payments. Information flows through the system based on specified business rules and is displayed in a customizable graphical user interface, which minimizes account representatives' training time.

 

The collections solution also has management tools to generate reports and search for information easily. The system is integrated with a contact management system and state-of-the-art Interactive Voice Response system (IVR), which together provide the power to automate and monitor telephony activity.

 

Process Management
MRG assigns a dedicated project team, led by an MRG senior manager, to each client portfolio. Because collectors work a dedicated portfolio, they are incentivized to maximize the collections on that portfolio ensuring each client's portfolio receives committed focus and attention.

 

MRG maintains a span of control and account to collector ratios that are significantly lower than industry standards, which means that each team and each collector can concentrate their efforts to maximize the netback on each portfolio

 

Skip Tracing and Right Party Contacts

MRG uses automated skip tracing technology combined with manual skip tracing methods to locate the maximum number of skips as quickly as possible. Because our collection associates have instantaneous access to actionable, relevant data regarding each specific debt, they are able to expedite the debt collections process and maximize the netback on each portfolio. MRG employs manual skip tracing teams that can be dedicated to each client. System controls and telephone techniques allow us to target and reach right party contacts.

 

Expense Management

MRG is able to offer its clients flexible and unique pricing structures due to our stringent and disciplined cost management policies. We rigorously examine each client's portfolio to identify the best possible combination of tools, skills and resources in order to maximize collections. We are completely focused on the ultimate return to each client.

 

Compliance

MRG is committed to 100% regulatory compliance. MRG has a dedicated compliance staff, which, along the collection management team, employs sophisticated tools and systems to monitor compliance by all employees involved in communication with customers. Each employee must formally agree to full compliance with FDCPA regulations as a condition of employment by MRG. Collection representatives are tested on a regular basis and must meet the highest scoring standards.