Accelerating Cash Flow through every stage of the recovery process!

Newly Minted Mission

Mike Zwach is the Executive Vice President and General Manager of Receivables Control.  Contact Mike at 763 315 9697 or email him at mzwach@rccmn.com.

Remarkable Achievements

Receivables Control recently held its annual Employee Appreciation Dinner.  Each year we take time during the holiday season to recognize special accomplishments and key milestones.  We take time to thank all of our staff for their tireless efforts throughout the year.  Following are a few noteworthy achievements from 2013:

Marty Bell was named by his peers as the Employee of the Year for 2013.  In addition to having his own accounts, Marty also manages a team of 5 account advisors.  Marty started his career at Receivables Control in 2004 and is now a two time winner of this award, having also won it in 2008.

Brittany Ritzer, Jack Powers, Isaac Hjermstad, & Charles Lakotas

The finalists for the Employee of the Year are an unstoppable force;  Brittany Ritzer, Jack Powers, Isaac Hjermstad, and Charles Lakotas.  This group has more than 70 years of combined collection experience and was recognized for their outstanding performance in collecting clients' accounts.  Each of our finalists has demonstrated production leadership this year.  This crew of collection professionals is the best in the business!

Laura Van Klei was named as the Ignitor of the Year for 2013.  She previously won this award in 2011.  This award is voted on by peers and awarded to an operations team member for outstanding performance.  Laura manages our Trust Accounting Department and is responsible for accurately posting and remitting tens of thousands of transactions and many millions of dollars.  Laura was also recognized for completing 10 years of service with Receivables Control. 

Jim Fritz was recognized for 20 years of service.  Jim began his career with Receivables Control June 1, 1993, splitting his time between selling and collecting.  Soon afterwards, Jim narrowed his focus and pursued sales full time.  Jim's passion for serving clients led to being named the Vice President of Sales.  Jim has been the sales production leader at Receivables Control for more than a decade!  

Gina Schillewaert completed 15 years of service in 2013.  Gina joined Receivables Control after managing a quick-serve restaurant.  Gina is a key member of our administrative staff and is the customer service representative for key clients.  Gina's work ethic is unstoppable and her efforts keep our collection floor focused on collecting money!

Deb Johnson was recognized for completing 5 years of service with Receivables Control.  Deb joined our administrative team to help support our collector staff.  Deb's key responsibilities are transferring data from our client's systems to collector's files.   Deb's work helps our account advisors spend more time collecting and less time searching for documents.

Thanks to all for making 2013 another successful year and we look forward to greater accomplishments in 2014!

From the front line:  Is your customer  holding a retirement sale?

We all dream of retirement.  What are your dreams?  Spending time with grandchildren?  Wintering in a warm climate?  Golf whenever you want?  Maybe you envision palm trees and a beach.  I envision skiing every day of the ski season!

Retirement is a good thing.  When a business has a retirement sale, you might think about a seasoned business person having one last sale to close their store, pay their creditors and head off into the sunset.  So what's wrong with a retirement sale? 

All too often we have found that around the end of the year "retirement sale" is a euphemism for "liquidating".  In the former, creditors think they will get paid and in the latter, they rarely get paid.  Some soon to be retired businesses actually increase their holiday and year-end buys knowing they don't intend to do anything other than liquidate after Christmas.

What's a credit manager to do?  Be on alert, know your high risk customers, and use the tools and information you have at your disposal:

• Look for customers with marginal credit that are making significant buys for the holiday season.
• Talk to your sales force.  Countless times I have had sales people tell me they know about customers who are having "retirement" sales, but they fail to relay that information to the credit department.  Your sales force often provides your first warning that there is a problem.  Ask them what they are seeing out in the field.
• Actively monitor credit holds and customers wanting credit increases.
• Look for warning signs when calling customers, do they have voice mails announcing a year end retirement sale or liquidation sale?
• Is your customer non-responsive?  They often don't want to talk to any creditors.
• Use the web!  Google your customer's name to find out what they are doing.  Look for announcements of retirement and liquidation sales.

Protect your company's exposure on the front end.  If you have marginal accounts, cash is best.  If you have already extended credit terms, then do everything you can to make contact and arrange for payment on a specific date.  If you are nervous that the customer isn't going to cooperate with you, then we are happy to help you. 

I am sure you have great customers that occasionally hold a retirement sale.  We wish them the best and for everyone else, keep your guard up and be cautious!

Kelly Cronan is the Vice President of Collection Operations.  Kelly can be reached at 763 315 9660 and his email is kcronan@rccmn.com.

Quick Links

Executive Team

Luke Vidor, Chairman

Our Core Values

Integrity

Long-term Partnerships

Professionalism

Innovation

Responsiveness

Industry

Results 

The Commercial Collection Agency Association released 3rd quarter placement results.

For the twelve month period ending September 2013, when compared to the twelve months ending September 2012, gross dollars placed to collection declined more than 27%, while the average size of collection placements grew more than 7%.

B2B collection placements have fallen every year since 2009.  

Looking for Answers?

Have you ever been put on the spot to answer tough questions about a delinquent account?  Perhaps you are asked about standard industry practices.  Maybe you need to find someone in a like industry to talk about best practices.

These are all areas where Receivables Control can assist you. 

We love to help clients research challenging accounts whether they are placed for collection or not.  We have the ability to check the track record of a company and provide you information that will help your company make decisions.

We have broad industry knowledge and can share how other clients manage accounts and we can provide an introduction to one of your industry peers.

Feel free to contact us anytime.  We are here to help!

Receivables Control

7373 Kirkwood Ct,

Suite 200,

Maple Grove, MN 55369

763 315 9600

www.RCCmn.com