This is part one of a three-part series. Read part two here. Read part three here. The articles first appeared on the Ontario Systems Blog and are republished here with permission.
It’s true: When it comes to efficient receivables management, consumer web portals are all the rage. While web-based interactions with consumers are second nature to most businesses, the ARM industry has been slow to adapt. That’s changing, as many outsourcers have begun to embrace newer tools to manage consumer communications and collect payments.
Consumer preferences are the reason for this shift. Web portals present the communication options consumers want and demand. They function as live associates, available 24/7 to take payments. They provide consumers with the means to pay; the documents they need; the reminders they want; and the voice they demand to express consent, ask questions or even register a complaint.
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