Arrow is a leading, full-service accounts receivable management company that purchases charged-off debt, conducts contingency collection work and performs third-party receivables servicing. We chose Parthenon as a partner because we appreciated their vision for Arrow and Arrow's management team. That shared vision helped us to complete the company's transition to a firm with formal processes for underwriting debt purchases and operational management.
We needed to develop a more robust infrastructure capable of supporting the company's rapid growth. We implemented this vision by developing and executing a full potential strategy with four key elements:
- Improve inventory management in order to optimize efficiency and profitability
- Expand operating capacity through outsourcing, acquisitions and greenfield expansion
- Improve Operating and Financial Reporting in order to improve accountability and margins
- Develop alternative business lines including financing other receivable management and collections businesses
With the assistance and leadership of the Parthenon team, we built four task forces responsible for implementing each of these strategies. Each task force was accountable to the company's executive management team. Each group did a fantastic job of making Arrow be all it could be. As a result of these efforts, our company more than doubled in revenue and profitability between 2002 and 2004 and continues to grow robustly today.
Left - Jack Lavin, President and CEO, Arrow Financial Services
Right - Brian Golson, Partner, Parthenon Capital Partners