debt collection strategies

Monarch Cares Announces Companywide Biggest Loser = Biggest Winner Weight Loss Challenge

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Philadelphia, PA  In an effort promote worksite health in 2013 and team building Monarch Recovery Management, an industry leading, next generation, accounts receivable management company, announces the launch of  its Annual Biggest Loser = Biggest Winner Company Weight Loss Challenge. 

This year Monarch’s ownership team is matching the entrance fee and doubling the grand prize. 

“Promoting weight loss and having healthy employees enables us to serve our clients better and is just good business, stated Bill Fuller, Monarch’s COO.  According to the CDC, work site health promotion programs can significantly reduce absenteeism and health care costs.” 

One of the most challenging aspects of losing weight is the motivation to start and continue a healthy diet and exercise program.  Monarch’s Biggest Loser = Biggest Winner Weight Loss Challenge is a fun and motivating way to lose weight as a group. Participants offer each other support, motivation and friendly competition that turns a humdrum diet and exercise program into a fun team building exercise. 

For more information about Monarch Recovery Management, Inc., Monarch’s Biggest Loser = Biggest Winner Weight Loss Challenge and Monarch Cares contact: 

Bill Fuller

Chief Operating Officer

866.227.0605

bfuller@monarchrm.com

 

Monarch Recovery Management Announces Monarch Cares Initiative

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Monarch Cares – An Accounts Receivable Management Company That Cares

Philadelphia, PA – Monarch Recovery Management, an industry leading accounts receivable management company, employing over 150 people in the Philadelphia area announces Monarch Cares.  Monarch Cares is an on-going program that supports a wide range of charitable organizations making local communities surrounding Monarch’s headquarters a better place to live and work.

“At Monarch, we believe it is important to have a positive impact and give back to our community. I am very proud of our commitment to this core value demonstrated by the numerous charities that we support. Our company wide goal is to increase our commitment to our community in the years to come”, stated Bill Fuller, President and CEO. 

Monarch Recovery Management has supported local communities by making donations to the following charitable organizations:

  • Business Leadership Organized for Catholic Schools, BLOCS, is an independent charitable organization supported by companies, firms, and foundations of all sizes in the five county Philadelphia region.
  • School supplies for needy children in the Philadelphia area. Fourth year outfitting students with backpacks filled with everything they need to start the school year off right.
  • Light The Night Walk raising money for the Leukemia and Lymphoma Society.
  • Sponsor Warrington Youth Baseball League.

Monarch Recovery Management Announces Qualities of A Next Generation Collection Agency

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Monarch Recovery Management, Inc., a collection agency with direct ownership involvement, combined with 77 years of industry experience announces the launch of their informative new website. The website illustrates how Monarch, a Next Generation Collection Agency generates success for organizations in today’s competitive business environment.

Next Generation Collection Agency Qualities include:

Knowledge–Industry experience to ensure maximum performance.

Technology– State-of-the-Art technology drives operational philosophy.

Compliance– Dedicated compliance team oversees all business operations.

Compassion– Proven collection strategies built on an empathetic approach, delivering long-term, consistent performance.

Collector U.– Cutting-edge staffing and development programs.

Innovative Incentives– Multiple compensation programs that are more than simply performance-based.

To learn more about how Monarch’s Next Generation qualities generate success and to receive a complimentary liquidation rate analysis that benchmarks results against industry standards

Visit Booth 602 at DCS or contact

866.227.0605 x2140

sales@monarchrm.com

Monarch Recovery Management Receives Prestigious ‘Agency Of The Year’ Award

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Monarch Recovery Management has been named Agency of the Year by a major retail lending company.

Everyone here at Monarch is proud of our achievement, but what makes it so rewarding is being able to deliver top performance while maintaining the highest level of compliance and integrity.

Click here to learn more about what we do, how we do it, and how we can put the right tools, the right people, and the right strategy to work for you.

Sending Interactive Collection Messages to Consumers

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Matt Edmunds at SoundBite wrote a interesting piece about the cost benefits of voice alerts and interactive messages:

“How can companies maintain their contact rate metrics and increase collection rates in their existing campaign strategies? Design a strategy that includes channel blending as your secret sauce.”

Of course, voice alerts and interactive messages – like texts or emails – can still be a bit of a risk for collection agencies. Any agency would always want to have explicit permission from the consumer to contact her through text and/or email. But Edmunds shared a lot of interesting data points:

  • Direct mail response rates are in the low single digits.
  • Emails have higher open rates at around 20% according to the DMA.
  • SMS/Text open rates are over 98%.
  • The US is 104.6% mobile phone penetrated
  • 31.6% homes being wireless only