Bringing the Best Practices in U.S. Collections to Russia
Challenge
In 2007, Moscow-based Pristav Collection Agency saw signs that the Russian economy was in trouble. They knew that the key to surviving a downturn was to operate at maximum efficiency, but they didn’t have the in-house expertise to determine what the necessary improvements should be.
Solution
Pristav knew that the U.S. market led the way in developing best collection practices and that the basics for operating a collection agency in the U.S. would translate well to the Russian market. They researched U.S. consulting firms and hired Kaulkin Ginsberg for an operational consulting engagement. One of our operational consulting partners, Patti Dunn visited the site in Russia to identify opportunities to streamline the operation. She conducted an extensive review of their current processes, technologies, and procedures. After a thorough assessment, one of her recommendations was to purchase a dialer to better streamline the outbound calling process. She also recommended better reporting processes and that they implement a standardized letter process.
Result
When the Russian retail banking industry nearly ground to a halt in 2009 and other Russian collectors were retrenching, Pristav had the most successful year in its history. The company doubled its customer base; increased collections in ruble terms by 54 percent; and increased revenue by 63 percent in ruble terms. The company also grew substantially in dollar terms with record profits. These milestones were achieved while keeping employee headcount basically flat.
What can we do for you?
Learn more about our operational assesment services »
Or contact Michael Lamm at 240-499-3808 or by email to discuss your interests in confidence.