At GRG, we take care to refer to our work as “recovery management” as opposed to “debt collections” and we believe that this distinction is fundamental to how we conduct our business. Due to the nature of the assets that GRG handles, which are large, internationally-oriented and related to complex and diverse commercial transactions, GRG’s approach must be thoughtful and tailored to the particular requirements of the assigned claims.
Recovery management describes a collection approach that is strategic, analytical, dynamic, and results oriented. During the recovery management process, Asset Recovery Managers collect and analyze the specifics of each case; they analyze alternative recovery strategies and develop a strategy recommendation based on the potential recoveries and risks; and they implement the strategy to achieve maximum results for GRG’s clients.
Cases are typically assigned to individual recovery managers based on the geographic location of the case. This is important in that it determines the collection context including the required linguistic and cultural skills, the litigation environment, and the relationships that can be leveraged to effectuate a recovery.
Through our network, we have access to additional resources that can be utilized on an as-needed basis. GRG recognizes that there are risks associated with overreliance on third-party providers. These risks primarily revolve around issues of governance, quality control, and accountability. While GRG makes frequent use of local attorney, investigator, and local agent services, GRG is careful in selecting team members and maintains supervisory control over all strategic decisions. At no point does GRG relinquish managerial or administrative control of a recovery case to a collection subcontractor. The assigned GRG Asset Recovery Manager (“ARM”) continues to monitor progress of the case, complete the reporting requirements, and determine whether to follow the local agent’s recommendations with respect to the handling of the asset.