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Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a third-party service provider. Today, BPO typically refers to the outsourcing of “back office” functions such as software or systems coding, billing, payment processing, debt collection, customer relationship management, technical support, and even accounting or finance functions.

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Former NCO Head Gets Back into Debt Collection

Michael Barrist – formerly the CEO, President, and Chairman of ARM/BPO giant NCO Group – announced today a transaction that will jumpstart his reentry into the debt collection space.

Barrist is partnering with Jim Eccleston to recapitalize and combine collection agency Central Credit Services, Inc. and ARM technology provider Radius Solutions, Inc., businesses owned by Eccleston. The new company will be called Radius Global Solutions LLC.

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HOW, WHAT, WHERE, WHEN, WHO?: Process Serving and Collections

Put yourself in the shoes for a moment of a large national creditor. You spend millions of dollars a year reimbursing your legal network firms for process serving expenses but you are completely blind as to HOW, WHAT, WHERE, WHEN and best of all WHO are the process servers. You know that the FTC looked at process serving in 2009 and this February the head of the CFPB’s Enforcement Department uttered the words “process serving” as an area of interest in his speech at the DBA conference. You realize that you have to establish compliance standards for process serving but you really do not know much about process serving as you do not have any direct relationships with collection industry process servers.