On-Site Associates, LLC offers a highly focused and wide-range of receivables collection and portfolio evaluation services designed to meet the ever-changing needs of Law Firms, Lenders and Insolvency Professionals.  We remain committed to maintaining the highest ethical standards in providing the very best in receivables collections and consulting services.

Please feel free to inquire about a representative list of our many satisfied clients by using our inquiry form.

Lenders often view the borrower’s accounts receivable portfolio as a primary source of loan repayment.  On-Site specializes in analyzing the borrower’s internal credit and collections processes “from A to Z” since their performance in these areas will impact the liquidity of the accounts receivable, and ultimately its highest net liquidated value.

From the due diligence phase to the collateral review phase and, if necessary, to the receivables liquidation phase, On-Site Associates, LLC provides quality receivables collection and portfolio evaluation services to the Lending Community.

Please feel free to inquire about a representative list of our many satisfied clients, by using our inquiry form.

On-Site Associates, LLC offers the following services:

• Accounts Receivable Portfolio Evaluation
• Receivables Liquidation and Collection Programs

Accounts Receivable Portfolio Evaluation

Lenders often view the borrower’s accounts receivable portfolio as a primary source of loan repayment.  Consequently, lenders should gain an understanding of how well the borrower administers their credit and collection functions since their performance in this area will have a direct impact on the short term liquidity of the accounts receivable portfolio, and ultimately its highest realizable value.

To provide you with this knowledge, On-Site Associates, LLC will visit your borrower in order to:

• Analyze current and historical receivables portfolio performance statistics and trends.
• Perform a detailed credit risk analysis of major receivable balances.
• Identify product and industry specific factors that may affect the net realizable value of the A/R portfolio, based on a variety of operating and non-operating scenarios.
• Assess the adequacy of credit screening, credit risk controls, staffing levels, systems capabilities and all operational areas that can impact the value of the receivables portfolio.
• Assign a liquidation value to the accounts receivable portfolio under various operating and non-operating scenarios.
• Identify the critical factors to be considered by the lender should they be forced to assume control of the receivables liquidation process, both in and out of bankruptcy

Our portfolio evaluation services are particularly useful when existing loans are scheduled for renewal, classified as non-performing or under-performing, or when a borrower files a bankruptcy protection.

Receivables Liquidation and Collection Services

These services are our firm’s preeminent area of expertise.  Our receivables liquidation and collection services are especially cost-effective. They are typically administered in one of two ways:

• We place our professionals on site at the borrower’s office to take possession and control of the cash receipts and receivables liquidation process.  We strive to develop a team comprised of our collection professionals and former key Company employees. Our experienced professionals will quickly and methodically assess the situation they are presented with and they design and administer a liquidation process that produces the highest possible net recovery rate.
• We have our professionals enter your borrower’s office to take physical possession of the most critical documentation and systems data needed to ensure a successful outcome for the receivables liquidation project.  We take steps to insure immediate control of the cash receipts process.  At the appropriate time we transport the receivables information to our offices and conduct the customer account notification and liquidation process on your behalf.

We issue detailed status reports on a regular basis to keep you informed of our results. Our professional staff is always available to answer any questions which arise during the course of the project.

These services have proven invaluable to lenders seeking a cost-effective alternative to the forced liquidation of accounts receivable.  On-Site Associates has liquidated hundreds of millions of dollars in receivables for our clients by using these proven approaches, and our recovery rate has consistently exceeded our clients’ expectations.

On-Site Associates has been providing quality receivables resolution services to numerous AM 100 law firms and professional services organizations since 1990 and our standards of excellence are unequaled.

Please feel free to inquire about a representative list of our many satisfied clients, by using our inquiry form.

On-Site Associates, LLC offers the following services:

• Receivables Resolution Services
• Diagnostic Review and Procedural Development – Client Intake, Billing and Collections Processes
• Law Firm Dissolution Services

Receivables Resolution Services

Many firms are trying to control costs during the current economic climate, but all too frequently they find themselves unable to maximize the realization of their client receivables and work-in-process portfolios.  Instead of hiring more staff, law firms can choose the cost-effective solution of placing one or more of our collection professionals on-site to perform receivables resolution services in the name of the law firm for the more challenging client/matter balances that all firms have on their books. Most often, our compensation is on a contingency fee basis based on performance.  We can also work on an hourly fee basis, upon request.

The Benefits of Hiring On-Site’s Professionals:

The Senior Associate managing the project will have a proven record of success in resolving receivables for law firms.  While we completely understand the sensitive nature of the attorney/client relationship, we also understand that you deserve to be paid for your services. We can provide you with a level of expertise and professionalism that will improve your cash flow without resorting to inappropriate collection tactics or alienating clients.

In addition to the on site receivables resolution programs discussed above, On-Site Associates also handles individual matters on a direct assignment basis.

Diagnostic Review and Procedural Development – Client Intake, Billing, and Collections Processes

On-Site Associates can perform an in-depth diagnostic review and assessment of your firm’s client/matter intake, billing, and collections processes.  We can also focus our analysis towards any specific area of these processes which may require enhancement in order to improve cash flow and increase profits.

We typically conduct a thorough examination and assessment of the following key operational areas:

• Client/matter intake and credit risk review
• Organizational structure of the departments responsible for client billing and collections
• Internal collection follow-up practices
• Approval authority policies for write-offs, write-downs, payment plans, and compromise settlement arrangements
• Stop work review or notification programs
• Malpractice and risk management review policies
• Automated billing and collection systems capabilities

We issue a comprehensive report of our findings and our recommendations on how to enhance your existing intake, billing, and collections process. Giving special consideration to your firm’s overall goals for growth and profitability, we draft new and enhanced policies. We can also give substantial assistance with employee training, as well as assisting in implementing the firm’s new policies.

Law Firm Dissolution Services

When the decision was made by fourteen (14) law firms, including Dewey & LeBoeuf LLP, to undergo dissolution (either in and out of bankruptcy), each of them placed their trust in On-Site Associates to handle the liquidation of their client receivables portfolio.

On-Site Associates believes that the most successful dissolution projects have the following characteristics:

• Early Intervention – is the most important factor to consider when designing a receivables liquidation program.  Designing the optimal program while the majority of attorneys and staff are still present; the client accounting and document management systems are fully functional; and the client files are still available will insure the best results. On-Site Associates has the experience to design a receivables resolution strategy that insures the best possible billed/collected realization rate from the firm’s receivables portfolio.
• Professional Due Diligence – the most crucial information needed to insure the highest possible realization rates is not always located in the Accounting Department.  Most often, it is background information obtained directly from the attorneys that proves invaluable.  Our legal industry experts will conduct attorney interviews to “ask the right questions” and obtain the information needed to help insure a successful outcome.  Based on our experience, the majority of the outstanding receivables and work in process balances will relate to active client relationships that will continue at the attorney’s new firm.  This creates a unique “competing for payment” dynamic with the attorney’s new firm that must be considered when designing and executing upon the resolution strategy.
• Control – no two law firm dissolution projects are exactly alike.  We go to great lengths to learn as much as we can about the manner in which the firm had been administered in the past.  We will then develop and present a resolution strategy that is agreed upon, in advance, by our client.  While this extra level of due diligence might appear to slow down the process; we have found from experience that a jointly developed “billing & collections game plan” actually makes the process more efficient in the long run, and with better results.
• Objectivity – once the dissolution announcement is made, the former active clients can be expected to protect their own interests, so the uncertainty of the situation can result in their withholding payment.  The attorney, understandably, wants to preserve the relationship, but also understands that the “old” receivable needs to be addressed.  This makes it difficult for many attorneys to remain objective in such an environment.  Our professional and objective approach to resolving these issues is reflected in the positive results we have achieved.  We can proudly state that we are able to amicably resolve these issues in well over 90% of the cases, even in situations which seemed insurmountable.
• Reporting – our detailed status report provides our clients with concise information on each of their client accounts and the overall status of the dissolution project.
• Cost Effectiveness – we often perform our dissolution services on a performance driven, commission rate basis. The rate charged is a function of the size, age and dollar concentration of the portfolio in question. We can also design alternative compensation structures that meet our client’s needs.

On-Site Associates supports the efforts of Trustees, Receivers, Turnaround Specialists, and Wind Down Committees by taking control of the receivables liquidation process in an effort to accelerate cash flow to the maximum extent possible. We can also provide receivables portfolio evaluation services and act as expert witnesses in the field of receivables management and collections. Some of our more notable engagements include:

References are available upon request.