In an economic climate that can be described as post-recessionary yet in sluggish recovery, the accounts receivable management industry faces unprecedented challenges Regardless of payment medium, or collections market niche, the name of the game for ARM organizations remains the same: collect outstanding debt as efficiently and cost-effectively as possible while playing by the rules. [...]
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The survey was taken by 200 collection agency operational professionals and represents a very even cross section of company sizes. Some of the results when broken down by company size are particularly interesting.
While changes in the ARM operational environment often manifest in the back office environment, new pressures on debt collection agencies are forcing a shift in the actual physical layout of the collection floor.
With dialers, you have two options: (1) Premised, where you purchase a solution that’s off-the-shelf, requires an army of IT guys, and has very little room for error (“Did I assume the correct number of lines/ports? What happens if I didn’t? How much more will that cost me?”); and (2) Hosted, which grants an agency [...]
Is your agency thinking about utilizing a debt settlement solution as part of its business model? There are some important data points to keep in mind when thinking about beginning any kind of relationship with a debt settlement company. In this whitepaper from DS3, you’ll get a better picture of the debt settlement landscape. Regardless of what you or your organization thinks about debt settlement, incorporating strategies that address this population of accounts will affect your recovery rate and costs.
Higher contact rates – it’s the stat every collections operation strives for. More contacts means more promises. And more promises means more revenue. So it’s no surprise agencies, healthcare offices, asset purchasers, law firms, and every other collections operation under the sun are investing in technology that they hope will dial more lines and waste less time on the floor.
But performance matters to — and Ontario Systems will show you how to get there.
We’re all familiar with the constant challenge: being able to maximize payments while staying compliant and up to date with new rules and regulations. A solution? Speech analytics, which can help ease this challenge by analyzing every agent contact – either during or after the call – to eliminate compliance risk, improve agent performance, and [...]
It is the responsibility of a company’s leaders to set the tone for the entire organization. Monarch Recovery Management’s ownership and executive team is the reason it is a Next Generation Collection Agency. Hear from four leaders of Monarch as to how and why their agency is part of the Next Generation leading the industry.
Despite the tumultuous trends unfolding in the United States due to a presidential election, pending fiscal cliff and uncertain economic future, the outsourced business services (OBS) sector experienced a rather robust M&A market in 2012. In fact, it could be described as explosive compared to 2011.
In the results from the first debt settlement survey insideARM.com conducted in Q4 2011, collection agencies were clearly the early adopters when it came to working with debt settlement companies to collect consumer debts. In the current survey, availble now for free downloading, we observed a significant shift in adoption, most impressively among credit card issuers.