Morgan, Cohen & Bach (“MCB”) is founded on the principle belief of helping our clients achieve the three most important aspects of growth:
1. Securing new customers.
2. Client retention.
3. Reducing delinquency.
1. Securing new customers.
2. Client retention.
3. Reducing delinquency.
How do we help you secure new customers?
Staying competitive in a marketplace is hard and competitive advantages are critical to obtaining new customers. With cutting edge technology, the best equipment, a great sales force, or effective advertising, companies can maintain that advantage for developing new potential business. The one thing all of these advantages have in common is in order to obtain them, you must have strong cash flow. History has proven time and time again that delinquent accounts weaken your financial position and ultimately inhibit a company’s ability to grow. Most fortune 1000 companies limit this by implementing in-house procedures that recovers 97-98% of their total receivables, but have also learned to outsource the small 2-3% left unresolved to a 3rd party, who can secure the largest recovery of what can equate to 5-20% of their profits. This influx of additional cash flow fuels those competitive advantages.
Morgan, Cohen & Bach has built a specialized procedure ensuring maximum recovery keeping your losses to a minimum.
How do we help you improve your customer retention?
Any time a customer's account becomes delinquent you are at risk of losing them to a competitor. Often, companies think they can maintain loyalty from a customer by extending them additional time, giving them smaller payment arrangements or even allowing them to buy on COD (cash on delivery), until they gradually pay off their obligation. These philosophies have been proven over time to ultimately cost you the customer more often than saving future business.
Eventually, your customer will need your products or service again, but the fact is they cannot come back to you - embarrassed of their delinquency. It’s much easier to buy from a new vendor than disclose to a current vendor they cannot pay a bill already past due.
The most effective way to mitigate these losses is having experienced mediators in place who can evaluate each scenario and efficiently work with your customers to resolve their unpaid debts while mending the business relationship before your customer’s next order.
Eventually, your customer will need your products or service again, but the fact is they cannot come back to you - embarrassed of their delinquency. It’s much easier to buy from a new vendor than disclose to a current vendor they cannot pay a bill already past due.
The most effective way to mitigate these losses is having experienced mediators in place who can evaluate each scenario and efficiently work with your customers to resolve their unpaid debts while mending the business relationship before your customer’s next order.
Morgan, Cohen & Bach is built around understanding the value of this to our clients.
How do we ensure the best results to keep your losses to a minimum?
We understand the old paradigm of recovering money solely from phone calls and letters is no longer as effective. The plain truth is 95% of the companies who specialize in collections do nothing more than this and most of your customers have figured this out. These companies are no longer the most effective process available.
What sets our process apart from standard collection agencies is the network of attorneys and investigators created to have a local presence in all 50 states and 75 countries. This, coupled with our comprehensive financial investigations into these delinquent companies, utilizes the full spectrum of available measures as compiled by our experts, who've spent years in the field perfecting the best method for our clients to secure the largest percent of delinquencies. This process provides superior results than our competition, while helping keep our client’s out of the courtroom, yet still identifying the companies that have no intention of honoring their agreements.
Lastly, with those debts where litigation is necessary and our investigation proves it a viable option, we will have litigation imposed through counsel in the governing venue - who will seek to enforce repayment for you on an involuntary basis, predicated upon your approval.
What sets our process apart from standard collection agencies is the network of attorneys and investigators created to have a local presence in all 50 states and 75 countries. This, coupled with our comprehensive financial investigations into these delinquent companies, utilizes the full spectrum of available measures as compiled by our experts, who've spent years in the field perfecting the best method for our clients to secure the largest percent of delinquencies. This process provides superior results than our competition, while helping keep our client’s out of the courtroom, yet still identifying the companies that have no intention of honoring their agreements.
Lastly, with those debts where litigation is necessary and our investigation proves it a viable option, we will have litigation imposed through counsel in the governing venue - who will seek to enforce repayment for you on an involuntary basis, predicated upon your approval.
Syncing an upfront mediation and investigations with effective legal action when needed is the key to our success.
