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Company Background
When founded in 1981, the company’s main purpose was to provide expert credit management services to companies which, because of size or other reasons, chose not to invest in a professional, full time in-house credit management staff. This was one of the first instances in the nation of the outsourcing model for business processes (BPO) that would grow to be a  veritable torrent in coming decades. The Collection Agency Division would be added in 1993, and now accounts for approximately 70% of company revenues.
Consulting services were also offered, including writing of credit policies and procedures, setting of credit limits, recruiting and/or training new credit staff, and training sales staffs to work with (not against) credit management. Assignments have included creation of an entire national credit department, employing all of the above listed services.
The Rand collection philosophy is to rehabilitate the debtor if at all possible, helping them to find a way to pay their debt, allowing our client to preserve their customer relationship. When tougher measures are needed, they are used without delay. But, a surprising percentage of debtors respond well to more creative, “velvet glove” techniques. Testimony to the effectiveness of the Rand approach is that, while on average the commercial collection agency industry collects 25% of dollars placed, Rand consistently collects anywhere from 30% to over 80%, depending on the industry, and the age of the debt. Individual claims Rand has successfully collected range in size from under $500 to well over $150,000..
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