Red2Black Collections’ Record Year
The debt recovery specialist has attracted on average three new clients per month since its re-brand in early 2008, and believes the secret to the company’s success is the investment in quality processes, quality people and industry-leading practices.
Contrary to popular belief, the economic downturn has not been the instigator of such phenomenal growth; recent reports by the Credit Services Association (CSA) indicates that the current climate doesn’t directly correlate with an increase in Debt Collection Agency (DCA) turnover; there are basically just more people less likely to be able to pay.
Nick Cherry, Director & General Manager at Red2Black Collections, co-ordinated the company’s re-brand and is the driving force behind its rapid rise. He explains: “The market is still as competitive as before the credit crunch, what we have found is that our unique ability to offer the reassurance of a superior outsourced solution at every stage of the debt collection life-cycle is proving increasingly popular with prospective clients.
Recent media reports and the government’s increased focus on DCA activity have put many inferior agency practices under the spotlight. More and more clients now understand the importance of working with a specialist who protects their brand and looks after their customers at every stage of the debt recovery process.”
Today’s harsh market conditions have not been the leading factor in Red2Black Collections record year, but Cherry agrees it has been a contributing force. He adds: “Clients are facing the increasing challenge of sustaining their collections performance and this requires levels of process innovation which are not possible without significant investment in both time and personnel.
“By offering high quality solutions across the debt collection life-cycle, our unique business model allows the client to choose one or all of our services to suit their needs and eliminates the need for them to maintain multiple servicer relationships, by providing one focal point for all client interaction.”
Red2Black Collections, whose services include early and late day collections, standard contingency collections, repossession, asset recovery, field collection and legal services is not sitting on its laurels anytime soon and plans to continue to expand its market presence in the coming months.
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- Kerry McCrink
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- De Winter PR
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